Mobilizing Carbon Finance through ADB’s Climate Action Catalyst Fund

Description

The Asian Development Bank (ADB) has established the Climate Action Catalyst Fund (CACF) to mobilize carbon finance to incentivize investments in low carbon technologies and scale up climate action in Asia and the Pacific for meeting the objectives of the Paris Agreement and the Sustainable Development Goals

CACF will provide innovative carbon finance to enhance the financial viability of actions that reduce greenhouse gas emissions and catalyze private sector investment in Asia and the Pacific. It will do so by purchasing carbon credits generated through cooperative approaches under Article 6 of the Paris Agreement. CACF will prioritize high-quality mitigation actions with sustainable development impacts for the local communities and beyond. It will support cooperating countries to achieve their respective NDC targets cost effectively and raise ambition over time. CACF will generate examples and lessons from early-stage Article 6 transactions and send a valuable price signal for the development of new international carbon markets under the Paris Agreement.

In this event, ADB will present the salient features of this first-of-its-kind carbon fund designed under Article 6. A panel of experts will then deliberate upon the catalytic role of carbon finance to promote investments in low carbon technologies and solutions and thereby enhancing climate action.

Objectives

The objectives of this event are to:

• Introduce CACF and present its salient features.
• Highlight the catalytic role of international carbon markets to mobilize much-needed carbon finance and diffuse low carbon technologies and solutions.

Target participants

This event will target governments interested in participating under Article 6, including both buyer and host countries, private sector investors, project developers, and development partners working on operationalizing Article 6 of the Paris Agreement.

Speakers

• Bruno Carrasco, Director General, Climate Change and Sustainable Development Department, ADB
• VK Duggal, Principal Climate Change Specialist, ADB
• Robert Andrén, Director General, Swedish Energy Agency
• Sandra Lindström, Head of International Climate Cooperation, Swedish Energy Agency
• Dida Gardera, Deputy Coordinating Minister for Food and Agribusiness, Coordinating Ministry for Economic Affairs, Indonesia
• Tashi Pem, Director General, Department of Energy and Climate Change, Ministry of Energy and Natural Resources
• Moderator: Sugar Gonzales, Climate Change Officer (Climate Change Adaptation, ADB