Forum seeks to unlock finance for priority climate actions in Asia

Practitioners and advocates of low emission, climate resilient development in Asia – including state policymakers, officials from development agencies and financial institutions, and potential investors – convened at the Sheraton Hanoi Hotel for the Asia Low Emission Development Strategies (LEDS) Forum 2016: Mobilizing Finance for Priority Actions from 27th-29th June, and for the Asia LEDS regional workshop. Check out the highlights from day 1 and day 2.

Organized by the Asia LEDS Partnership and hosted by the Vietnam Ministry of Planning and Investment (MPI), the Forum aimed to support countries in mobilizing finance to implement LEDS aligned with their Nationally Determined Contributions (NDCs), which outline their commitments on climate action to be undertaken under the Paris Agreement.

“We are honored to host this significant event, one that could dramatically accelerate the implementation of priority climate actions across Asia,” said Deputy Minister of Planning and Investment Nguyen The Phuong. “Taking action now will put Vietnam and its developing Asian neighbors on a path of sustainable development and reaffirm our contributions to the global drive to tackle climate change.”

In the three-day forum, sessions focused on determining the scale of financing necessary to implement priority actions, and identifying suitable financing sources and the means to access them. In turn, ‘deep dive’ training tracks studied available policy and financing instruments to drive public and private investment, behavior change, and decision-making by stakeholders to support low-emission development priorities. The consideration of sub-national and local needs in national financial planning was also be scrutinized.

An ‘open space session’ set up where organizations can showcase best practices and ongoing initiatives on LEDS, particularly in relation to accessing climate finance and technical assistance.

Asia LEDS Forum 2016 is supported by the United States Agency for International Development (USAID), United Nations Development Programme (UNDP), Climate and Development Knowledge Network (CDKN), LEDS GP, German Federal Ministry for Economic Cooperation and Development (BMZ), and GIZ.

Other participating organizations include the United Nations Framework Convention on Climate Change (UNFCCC) Regional Collaboration Centre (RCC) for the Asia-Pacific, Institute for Global Environmental Strategies (IGES), United Nations Environment Programme – Technical University of Denmark (UNEP DTU) Partnership, and ICLEI – Local Governments for Sustainability.

Regional workshop

Following the Forum, the Asia LEDS Partnership Regional Workshop, “Mechanisms that Catalyze Finance for Grid-Connected Clean Energy in Asia” was held on June 30 to July 1, also at the Sheraton Hanoi.

This regional workshop served as a platform for officials, experts, and potential investors, to exchange how countries are designing and implementing policy measures and financial mechanisms to accelerate investment for grid-connected, renewable energy projects – key to the development of sustainable energy solutions.

Also organized by the Asia LEDS Partnership and hosted by MPI, the workshop was co-hosted by the Ministry of Industry and Trade (MOIT) and sponsored by USAID, UNDP, LEDS GP, and the European Chamber of Commerce in Vietnam.

The workshop complemented the theme of the Asia LEDS Forum and built on regional momentum to spur private investment in LEDS and green growth, seeking to come up with general recommendations for governments and identify measures and activities in which the Asia LEDS Partnership could be of assistance.

The update was originally posted on the Asia LEDS 2016 forum page and can be found here.