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Climate finance in the Asia-Pacific region: trends and innovative approaches

Author

Listed:
  • Ilaria Carrozza

    (PhD candidate in International Relations, The London School of Economics and Political Science (LSE), United Kingdom)

Abstract

Asia and the Pacific1 is one of the most disaster-prone regions and the possibility that climate change may exacerbate the frequency and severity of extreme weather events is a real threat to progress made towards achieving sustainable development. To secure sustainable development gains and build resilience in the region, there is an urgent need to undertake climate mitigation and adaptation action. Despite an estimated $391 billion in climate finance flows internationally in 2014, the gap between available climate finance and the financing required to limit global warming to two degrees Celsius and adapt to unavoidable impacts of climate change is growing. The present paper offers an overview of the climate finance landscape with a focus on the Asia-Pacific region, and of finance flows from international climate funds, multilateral development banks and subregional and national climate finance initiatives. The ultimate goal of the discussion is to provide policymakers in the region with an understanding of the state of climate finance and recommendations on approaches for mobilizing climate finance in the light of global efforts, regional trends and successful initiatives.

Suggested Citation

  • Ilaria Carrozza, 2015. "Climate finance in the Asia-Pacific region: trends and innovative approaches," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 22(2), pages 71-102, December.
    • Handle: RePEc:unt:jnapdj:v:22:y:2015:i:2:p:71-102
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    File URL: http://www.unescap.org/sites/default/files/Paper%203-Carrozza.pdf
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    References listed on IDEAS

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    1. Yang Gu & James McCalley & Ming Ni & Rui Bo, 2013. "Economic Modeling of Compressed Air Energy Storage," Energies, MDPI, vol. 6(4), pages 1-21, April.
    2. Stopa, Justin E. & Filipot, Jean-François & Li, Ning & Cheung, Kwok Fai & Chen, Yi-Leng & Vega, Luis, 2013. "Wave energy resources along the Hawaiian Island chain," Renewable Energy, Elsevier, vol. 55(C), pages 305-321.
    3. Li, J.S. & Chen, G.Q., 2013. "Energy and greenhouse gas emissions review for Macao," Renewable and Sustainable Energy Reviews, Elsevier, vol. 22(C), pages 23-32.
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    Cited by:

    1. Jale Samuwai & Jeremy Maxwell Hills, 2018. "Assessing Climate Finance Readiness in the Asia-Pacific Region," Sustainability, MDPI, vol. 10(4), pages 1-18, April.

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    More about this item

    Keywords

    Asia-Pacific; climate change; climate finance; mitigation; adaptation;
    All these keywords.

    JEL classification:

    • F39 - International Economics - - International Finance - - - Other
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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