Eco-Business 
Climate-focused infrastructure: The new frontier for green financing?
Adaptation financing has traditionally garnered low private-sector interest as it does not present clear revenue-earning opportunities. Yet, in recent years, we are seeing transformative shifts with the development of new financing tools and models that could potentially close the current funding gap.
Across Asia Pacific, there is an annual shortfall of about US$800 billion in climate finance, of which around US$170 billion falls in the adaptation category, according to the International Monetary Fund.
Multilateral financiers are now championing “blended finance” models, where they commit part of the funds needed for climate projects which face bankability issues. The understanding of what is a good business model for adaptation might be an emerging concept for the private sector but increasingly financiers see the demand for more support in climate-resilient infrastructure, from water and sanitation, coastal resilience-building to energy and transport-related projects.
On a global scale, there is also now growing momentum to get wealthier countries to provide “loss and damage” funding to vulnerable nations to recover faster from climate disasters. The issue will be at the forefront of upcoming talks at the COP29 climate summit, but it remains to be seen if sufficient capital can be made available.
This opening plenary puts the spotlight on financing models and partnerships that could provide Asia’s cities with the ammunition it needs to adapt to urgent climate risks. It also explores crucial questions such as how to move from financing to implementation and ensure that resources are channelled to local city governments and cash-strapped provinces through a faster route.
Speakers
Victoria Rigby Delmon
Regional Pre-Investment Head, Infrastructure, Asia Pacific, International Finance Corporation
Yvonne Huang
Lead Representative, Asia, GRESB
Jasper Wong
Head of Real Estate & Hospitality and Construction & Infrastructure, Sector Solutions Group, UOB
Moderator:
Meaghan See
Director of Partnerships, Eco-Business
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