Day 1 highlights from the Asia LEDS Forum 2016
Day 1 of the Asia LEDS Forum 2016: Mobilizing Finance for Priority Actions highlighted the weak ‘enabling environments’ and the technical capacity that limits investment in Nationally Determined Contributions (NDCs). Read an overview of the event here, or access Day 2 highlights.
The day included a panel discussion on existing policy frameworks and financing needs in certain countries, parallel sessions on the scale of financing required and suitable sources, and country roundtable discussions on policy and regulatory instruments for mobilizing finance for Nationally Determined Contributions (NDCs).
In the day’s keynote address, Dr. Stephen Hammer of the World Bank echoed the Forum’s objectives in describing his organization’s outlook on climate action.
“We’re trying to move from the ‘conversation’ on [the] Paris [Agreement] to a full-blown focus on implementation, [including] collaboration with groups such as the Asia LEDS Partnership and the LEDS GP,” he said.
In the opening panel, it was noted that while certain policy frameworks were already in place, in Asia, implementation infrastructures and engagement with the private and other non-government sectors for mobilizing finance remain to be a work in progress.
Mr. Ali T. Sheikh of the Climate and Development Knowledge Network, moderating the panel, observed that the ‘discourse’ on climate finance was mostly limited to the public sector. He likewise suggested a shift from ‘supply-side’ questions on finance to the consideration of ‘bottom-up’ approaches to finance mobilization from the sectoral and municipal levels.
In the parallel sessions, it was noted that weaknesses in the ‘enabling environment’ fostered by governments limits investment in renewable energy and green growth. This enabling environment includes, among others, regulatory frameworks supported by effective government institutions, and technical capacity for measurement, reporting, and verification (MRV).
Tracking of public and private climate expenditure was, though ‘difficult’, likewise pointed out as an imperative to ensure transparency and effective implementation of NDCs.
The weaknesses in these and in other similar aspects serve to limit investment on NDC implementation, especially domestic investment – particularly crucial given its dominant share within a country – including such avenues as public-private partnerships and joint-venture agreements.
This report was originally posted on the Asia LEDS Forum 2016 website here.