Climate Finance Fundamentals 8: Regional Briefing - Asia

CFU data shows that for 18 countries in Asia1 a total of USD 4.9 billion for 530 projects and programmes have been approved by 18 multilateral climate funds and initiatives. The diversity of active funds in the region is not matched in the distribution of finance. Considerable amounts of finance have flowed to fast-growing economies such as India and Indonesia, primarily for mitigation projects. On the other hand, a number of nations at considerable risk to climate change, such as Sri Lanka, have received relatively little. This year saw USD 400 million in new approvals, with adaptation and cross-cutting projects both higher in value of funding approvals than for mitigation. The Green Climate Fund (GCF) was the biggest contributor in the region in 2019, accounting for 62% of new approvals.