Green climate finance in focus at Hanoi conference
During 12-13 March 2014 in Hanoi, policy-makers and climate finance experts from South-East Asia gathered at a conference on "Accessing Finance for Green Growth and Low Emission Development Strategies" to discuss how low-carbon "Green Growth" could be financed. The conference was organized by the Asia LEDS Partnership. The SWITCH-Asia Programme supported this dialogue in cooperation with USAID, the World Bank, Climate & Development Knowledge Network, UNDP and UN-ESCAP.
Government officials from Cambodia, Indonesia, Malaysia, Philippines, Thailand, and Vietnam met with representatives of global climate change funds, state and private banks, and businesses including representatives from 12 SWITCH-Asia grant projects. They discussed options for funding green investments in sectors ranging from energy and transport to agriculture and manufacturing.
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 investments. The discussions held during the conference confirmed that key challenges remain in the identification of and access to new sources of climate change funding. Opportunities exist in mainstreaming climate and environmental aspects into SME financing products that are set up to enable SMEs' access to finance in general. This offers substantial opportunities to green the SME investment in Asia.
'Vietnam 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,' said Vietnam's Deputy Minister of Planning and Investment Nguyen Van Trung during the conference, 'and all of these investments will require funding from the government, non-State sector, and international community.'
In conjunction with this conference, SWITCH-Asia Network Facility also organized SWITCH-Asia sessions on green investment for SMEs as well as the first SWITCH-Asia Networking Event in Vietnam.
The presentations of the conference are available here.
To view a photogallery of the event click here.