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Growing enthusiasm buoys second day of GCF’s Asian Dialogue

Denpasar,
Signs of growing ambition in Asian countries to tackle climate change have laid the groundwork for the second day of GCF’s regional event to boost climate finance.

Participants at GCF’s Structured Dialogue on Asia today explore synergies on climate responses after hearing on Wednesday how 19 countries plan to deal with this global challenge.

While the geographical diversity of Asia means countries such as the island nation of the Philippines and landlocked Laos face different climate challenges, the 19 country plans shared a common enthusiasm to move ahead.

Enhanced livelihoods, health and well-being, and low-emission energy were three of the most common areas where Asian countries intend to focus their climate efforts.

In addition to sharing climate finance knowledge, another major goal of the four-day Dialogue is to enhance an understanding of how GCF can help.

Asian countries have already shown a strong intent to seek GCF assistance in pursuing country-driven climate plans. They have signalled a demand of a total of USD 2.6 billion from the Fund for a range of climate initiatives.

Opening the Dialogue, Syarif Hidayat, regional head of the Indonesian Ministry of Finance, said climate finance is necessary as “developing countries in Asia only have limited resources in mitigating and adapting to climate change.”

“We as developing countries need to play our fair share,” added the representative of the ministry, a GCF National Designed Authority, reflecting a sentiment shared by many that Asian nations are determined to chart their own climate courses.

In response, Clifford Polycarp, interim Head of GCF’s Country Programming Division, said “this meeting is exciting because we are on the verge of unleashing a promising potential in the Asian region.”

Today’s Dialogue will focus on sharing information about GCF’s support programmes, its focus on accountability, and global experiences in setting up green banking models.

The day will conclude with discussions on developing a roadmap for the region. A key anticipated outcome of the Dialogue, the roadmap will articulate Asian priorities and opportunities in ongoing engagement with GCF.