HANOI, March 12, 2014 – The Asia LEDS Partnership Workshop on Accessing Finance for Green Growth and LEDS in Southeast Asia opened today in Vietnam. Policymakers and climate change experts from around Southeast Asia are discussing how to finance low-carbon “green growth”. Government officials from Cambodia, Indonesia, Malaysia, Philippines, Thailand, and Vietnam are meeting representatives of global climate change funds, state and private banks, and businesses to discuss options for funding green investments in sectors ranging from energy and transport to agriculture and manufacturing. The workshop runs through March 14 and is organized by the Asia LEDS Partnership, in cooperation with the Vietnam Ministry of Planning and Investment, USAID, the SWITCH-Asia Network Facility, the World Bank, Climate and Development Knowledge Network (CDKN), and United Nations Development Programme (UNDP).
“Investment in low-carbon technologies, businesses, and infrastructure are central to achieving green growth, and can simultaneously help reduce poverty, increase economic competitiveness and energy security, and reduce the emissions that contribute to climate change,” says Mr. Orestes Anastasia, Co-Chair of the Asia Low Emission Development Strategies Partnership (Asia LEDS Partnership) and a senior climate change advisor with the US Agency for International Development (USAID) regional mission in Bangkok, Thailand.
In response to accelerating environmental degradation and the growing threat of climate change, an increasing number of countries in Asia are beginning the transformation of their economies towards a more sustainable, low-carbon development model. Achieving green growth requires a significant shift in investment, and identifying and accessing new sources of climate change funding, as well as mainstreaming climate and environmental aspects into business financing strategies, remain key challenges for governments, businesses, and other organizations that seek to implement low-carbon strategies, plans, and projects.
“Vietnam has developed a national Green Growth Strategy to help improve people’s living standards through employment in green industries, agriculture and services, investment in natural capital, and development of green infrastructure,” says Vietnam’s Deputy Minister of Planning and Investment Nguyen Van Trung, “and all of these investments will require funding from the government, non-State sector, and international community.”
Workshop sessions will cover a variety of financing mechanisms – from public climate investment funds to programs for small and medium sized enterprises – as well as sharing of effective models and processes to accelerate scale-up and replication of low-carbon initiatives. Topics include determining finance needs, how to incentivize private sector investment, comprehensive investment planning approaches, and monitoring and evaluation of dedicated finance to support green growth.
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