HANOI, June 29, 2016 – ‘Deep dive’ training tracks on instruments available to drive investment, behavior change, and decision-making by stakeholders in support of low-emission development priorities highlighted yesterday’s Day 2 of Asia LEDS Forum 2016: Mobilizing Finance for Priority Actions.
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 NDCs and priority actions.”
“Someone, to put it bluntly, has to pay the bill [for implementing NDCs], 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, B-LEADERS reviewed how its Mentoring Portfolio is potentially replicable in other countries. The Mentoring Portfolio in the Philippines helps startups and new players in the renewable energy industry navigate the system of obtaining business permits, finding a lending bank, and securing equity funding, among other requirements.
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 (CFR) 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 CFR, it was noted.
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 Global Partnership Energy and Working Groups, participants discussed key features and methods to mobilize government and private investments on sustainable energy development. The discussion included the steps that governments can take to prioritize and de-risk sustainable energy investments to attract donor support and unlock private capital, the perspectives of institutional and private investors in sustainable energy financing, approaches by governments towards setting up robust project pipelines, and effective investment environments.
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), provided an overview of the technical and financial concepts that are useful in the development and financing of bankable priority projects. Experts presented case studies on sub-national programs, including the Green Growth Action Plan developed for Thanh Hoa Province, Vietnam, and the Green City Action Plan of Melaka, Malaysia.
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 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.
More on Asia LEDS Forum 2016:
Management of Asia LEDS Partnership Secretariat formally transitions to ICLEI
Day 1 Highlights: Weak ‘enabling environments’, technical capacity limit investment on NDCs
Forum seeks to unlock finance for priority climate actions in Asia