Day 2 highlights from the Asia LEDS Forum 2016
Day 2 of Asia LEDS Forum 2016: Mobilizing Finance for Priority Actions highlighted ‘deep dive’ training tracks on instruments available to drive investment, behavior change, and decision-making by stakeholders. Read an overview of the event here, or access Day 1 highlights.
The day’s keynote address was delivered by Mr. Romell Antonio Cuenca, Deputy Executive Director of the Climate Change Commission of the Philippines, who called the Forum a “crucial, integral step in our efforts to achieve our respective INDCs [Intended Nationally Determined Contributions] and priority actions.”
“Someone, to put it bluntly, has to pay the bill [for implementing INDCs], and we have to find ways to pay the bill,” he said.
In Track 1, “Developing and Using Policy Instruments to Mitigate Risk and Mobilize Investments,” organized by the USAID Building Low Emission Alternatives to Develop Economic Resilience and Sustainability (B-LEADERS) program from the Philippines, the concept of B-LEADERS’ Mentoring Portfolio was suggested for further study as potentially replicable in other countries. The Mentoring Portfolio was designed specifically for the Philippines to help startups and new players in the renewable energy industry to navigate the system of obtaining business permits, finding a lending bank, securing equity funding, etc.
B-LEADERS also presented the concept and framework of its Energy Virtual One Shared System (EVOSS) and the One-Stop Facilitation and Monitoring Center as potential models for upscaling within the region.
Track 2, “Climate Finance Readiness: From Theory to Practice,” organized by GIZ, presented the concept of climate finance readiness and its comprehensive approach in taking account of legal foundations, institutional arrangements, financial governance, and other factors for the development of a ‘coherent’ climate finance strategy.
A good analysis of strengths and weaknesses, needs assessment, ‘clear vision’ of goals and targets, and a good overview of the ‘diverse donor landscape’ in many countries are essential for climate finance readiness, noted Mr. Lars Andersen of GIZ.
Track 3, “Developing and Using Market Mechanisms” for NDC implementation, was organized by the UNFCCC Regional Collaboration Centre for the Asia-Pacific (RCC Bangkok). RCC Bangkok introduced the Institute for Global Environmental Strategies’ (IGES) INDC Tracker, a comprehensive database including information on market mechanisms, finance, technology transfer, and climate change mitigation and adaptation.
In Track 4, “How to Attract Sustainable Energy Investments,” organized by the LEDS GP’s Energy Work Group, participants discussed key features and methods to mobilize government and private investments on sustainable energy development. The discussion included the role of governments in ‘de-risking’ investments, institutional investors in financing and what they are looking for, and private-sector perspectives on how to attract corporate investments.
Track 5, “How to Convert Sub-national Level Priority Actions into Bankable Projects,” organized by ICLEI–Local Governments for Sustainability and USAID Low Emissions Asian Development (LEAD), discussed institutional, policy, and regulatory frameworks to ensure the financial viability of priority projects by sub-national governments. Using Thanh Hoa Province of Viet Nam as a case study, some potential areas for follow-up suggested by the participants include: opportunities to work with major corporations to get purchase commitments for renewable energy, pre-feasibility assessment support for local government projects, and assistance on policy guidelines to help governments design effective power purchase agreements.
Each training track also yielded recommendations on what the Asia LEDS Partnership can do to assist national and sub-national governments based on the assessed needs and challenges.
Day 2 also included an Open Space Session where organizations showcases best practices and ongoing initiatives on LEDS, particularly in relation to accessing climate finance and technical assistance.
This report was originally posted on the Asia LEDS Forum 2016 website here.