This report examines the trends, challenges, and opportunities that policymakers, regulators, and private finance (banks, issuers, and investors) in Asia and the Pacific face in mobilizing and deploying financing for key Sustainable Development Goals (SDGs), particularly around climate action. Its aims are to spur a more robust and informed debate amongst member States on key measures to move the region towards sustainability and to bring greater clarity regarding the benefits and consequences of selected policy and financing choices in the short and the long- term.
The report proposes ten Principles for Action in Sustainable Finance for further deliberation and dialogue among ESCAP member States:
- new climate finance partnerships are developed;
- effective NDC financing strategies are developed;
- policy coherence and capacities are developed across key government ministries;
- decisive regulatory action takes place to shift capital in Asia and the Pacific towards the net zero transition;
- investment in the capacities of financial personnel;
- investment in much-needed sectoral and project-based financial data is undertaken;
- commitments to net zero pledges for 2050 with credible transition pathways including 2030 goals are made;
- local-currency financing of energy transition projects as well as green technologies and other net-zero investments is increased;
- concessional financing and risk-sharing by multilateral development banks, bilateral development financial institutions, and public development banks is expanded and accelerated; and
- investment of time and effort with partners in project preparation is increased.