Fast Out of the Gate: How Developing Asian Countries Can Prepare to Access International Green Growth Financing - Executive Summary
Globally, estimates of existing public and private funds allocated for climate finance range from just over USD 200 billion to USD 364 billion annually. Yet this amounts to only between 20-30 percent of the approximately USD 1 trillion required annually over the next decade to finance the transition to a low-carbon economy. The "Fast Out of the Gate" report reviews the main public and private sector funds and mechanisms for financing low emission projects, businesses, and infrastructure in the Asia region that mitigate emissions of greenhouse gases and thereby address climate change. It is based on a review of more than 200 climate-related funds and financing mechanisms in the Asian region, along with interviews with 27 development financing institutions, banks, and private sector fund managers across seven countries.
The report aims to (a) help prepare developing Asian countries to access available financing, and (b) identify necessary elements of such preparations, among them improved GHG inventory systems and accounting, participation in carbon markets, and measurement, reporting, and verification (MRV) of emissions reductions. The report is aimed to help a wide range of stakeholders, including Asian governments and policymakers, public and private fund managers, project developers and proponents, and local communities.
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