Regional: Adaptation Metrics to Scale Up and Align Investment with Climate-Resilient Development
The knowledge and support technical assistance (TA) will improve the capacity of the public and private sector in developing member countries (DMCs) to apply adaptation metrics in developing adaptation plans and linking these to public and private sources of finance. The TA will deliver two outputs to improve the capacity of public and private sector actors to apply adaptation metrics to support investment planning, namely: (i) evidence base on adaptation metrics expanded, and (ii) tools to apply adaptation metrics developed.
Sustainable Development and Climate Change Department
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- Public sector management
|Project Name||Adaptation Metrics to Scale Up and Align Investment with Climate-Resilient Development|
|Country / Economy||Regional
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Environmentally sustainable growth
Inclusive economic growth
|Drivers of Change||Gender Equity and Mainstreaming
Governance and capacity development
Private sector development
|Sector / Subsector||
Public sector management / Public expenditure and fiscal management
|Gender Equity and Mainstreaming||Some gender elements|
|Description||The knowledge and support technical assistance (TA) will improve the capacity of the public and private sector in developing member countries (DMCs) to apply adaptation metrics in developing adaptation plans and linking these to public and private sources of finance. The TA will deliver two outputs to improve the capacity of public and private sector actors to apply adaptation metrics to support investment planning, namely: (i) evidence base on adaptation metrics expanded, and (ii) tools to apply adaptation metrics developed.|
|Project Rationale and Linkage to Country/Regional Strategy||
Countries in Asia Pacific are highly vulnerable to observed and projected climate change.
While local communities and governments have started to invest in climate adaptation, the recent Intergovernmental Panel on Climate Change assessment highlights that these efforts are fragmented, short-term and incremental and will not be enough to address increasing climate risks. It calls for adaptation action that enables system transitions and transformation.
These investments will cost $155-330 billion annually by 2030, which is much higher than the current $46 billion invested in adaptation globally. In recognition of the financing gap, the Paris Goal on Finance recognizes the need to not only "scale-up billions of financial flows for adaptation, but to fundamentally align the trillions of public and private financial flows and investment with adaptation and resilience".
To develop robust adaptation plans and link them to public and private sources of finance, DMCs have started to focus on adaptation metrics to improve adaptation investment planning systems. For instance, adaptation targets and taxonomies can guide investment in adaptation, and adaptation impact indicators can enable investors to assess and manage investment in adaptation. The governments of Bangladesh, Pakistan and the Philippines have developed climate fiscal frameworks which include adaptation taxonomies and budget tagging systems to link adaptation plans to public budget and expenditure frameworks. Similarly, financial institutions in these countries are considering resilience principles and climate disclosure frameworks to guide private investment in adaptation.
This TA will collate evolving evidence on adaptation metrics and support design and learning dialogues to improve the knowledge and tools available to public and private sector actors for investment in adaptation.
It will add value by supporting DMCs efforts to move from adaptation planning to implementation. It will also contribute to ADB efforts to align and scale-up investment in climate adaptation by supporting upstream planning, the corporate results framework, and future work on Task Force for Climate-Related Financial Disclosures reporting.
Climate change measures integrated into national policies, strategies, and planning
Effectiveness and durability of adaptation actions improved
Financial flows for investment scaled up and aligned with climate-resilient development
|Description of Outcome||
DMCs' capacity to apply adaptation metrics improved
|Progress Toward Outcome|
|Description of Project Outputs||
Evidence base on adaptation metrics expanded
Tools to apply adaptation metrics developed
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Geographical Location||Bangladesh - Nation-wide; Pakistan - Nation-wide; Philippines - Nation-wide|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Consulting Services||Individual consultant will be recruited to provide national consulting inputs. A firm will be recruited using quality- and cost-based selection using 90:10 quality-cost ratio. ADB will engage consultants and carry out procurement following the ADB Procurement Policy (2017, as amended from time to time) and its associated project administration instructions and/or staff instructions.|
|Responsible ADB Officer||Kaur, Nanki|
|Responsible ADB Department||Sustainable Development and Climate Change Department|
|Responsible ADB Division||SDCD|
Asian Development Bank
|Concept Clearance||14 Sep 2022|
|Fact Finding||01 Feb 2022 to 11 Feb 2022|
|Approval||14 Dec 2022|
|Last Review Mission||-|
|Last PDS Update||15 Dec 2022|
|Approval||Signing Date||Effectivity Date||Closing|
|14 Dec 2022||-||14 Dec 2022||31 Dec 2025||-||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|1,000,000.00||0.00||0.00||0.00||0.00||0.00||1,000,000.00||04 Jan 2023||0.00|
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|Title||Document Type||Document Date|
|Adaptation Metrics to Scale Up and Align Investment with Climate-Resilient Development: Technical Assistance Report||Technical Assistance Reports||Dec 2022|
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