Regional : ADB-Korea Climate Technology Hub

Project Name

ADB-Korea Climate Technology Hub

Project Number

57263-001

Country / Economy

• Regional

Project Status

Active

Project Type / Modality of Assistance

• Technical Assistance

Source of Funding / Amount

TA 10287-REG: ADB-Korea Climate Technology Hub

Source	Amount
Republic of Korea e-Asia and Knowledge Partnership Fund	US$ 5.00 million

Operational Priorities

• OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability

Sector / Subsector

• Multisector / ADB's corporate management, policy and strategy development

Gender

No gender elements

Description

The TA will finance the establishment and operation of the ADB-Korea Climate Technology Hub (K-Hub) in Seoul, Republic of Korea, for the benefit of all developing member countries (DMCs) of ADB. The K-Hub will connect ADB's DMCs to global cutting-edge climate technology, experts, service providers, and other stakeholders in the climate technology ecosystem; serve as a think tank to share and disseminate climate technology-related policies and knowledge; serve as a platform where DMCs and technology providers can interact and explore cooperation; enable DMCs to keep abreast of the latest climate technology development to address their demand for food, energy and water security, disaster management, and smart infrastructure and mobility; and make informed decisions on the technology solutions. It will focus on mapping out and introducing the climate technologies that respond to the DMCs' needs; studying and comparing the technology ecosystems for the supply and demand side including recommending improvements; connecting the technology providers and those in demand in the DMCs; strengthening DMCs' science and technology ecosystems; and fostering climate technology policy dialogue and accelerated application and deployment of climate technologies in the DMCs. The K-Hub will work closely with ADB's OMDP, RDs, SG, PSOD including ADB Ventures, and Innovation Hub; explore novel business models; and contribute to ADB's sovereign and nonsovereign operations and low-cost technology solutions for the DMCs.

Project Rationale and Linkage to Country/Regional Strategy

Climate change including increases in frequency, magnitude, and intensity of extreme events resulting from global warming is one of the most pressing challenges facing the world. The Asian and the Pacific region accounts for more than 50% of the GHG emissions and has been experiencing widespread damages and losses to infrastructure, ecosystems, and human lives; worsening of food and water security; and erosion of development gains caused by extreme heat waves, floods, and droughts. There is an urgency for countries and the international community to intensify their efforts to reduce GHG emissions and increase resilience to the devastating climate change impacts.

Climate smart technologies play a crucial role in transitioning to low-carbon economies and building climate disaster resilience. A wide range of innovative solutions and technological advancement to provide clean energy, improve energy efficiency, green transport and agriculture, and conserve water has become available, but they are with a few countries, and deployment in ADB DMCs is not fast enough to help them decarbonize and cope with the consequences of the climate change. Major barriers facing many of the DMCs are: (i) inadequate policy and regulatory requirements to drive technological development; (ii) weak national science, technology, and innovation systems; (iii) gaps between technology supply and demand and lack of trust; and (iv) financing and investment recovery. The design of the TA has drawn from the work of the UN Technology Mechanism and the lessons and experiences learned from the Global Environment Facility and Green Climate Fund--the two operating entities of the UNFCCC's Financial Mechanism and ADB's experiences in setting up similar hubs or centers, which include (i) quality private sector engagement and leverage, (ii) development of facilitating policies and legislation as a priority, (iii) a clear focus and scope in supporting operations departments, (iv) strengthening of climate technology ecosystems, (v) promotion of interest in climate mitigation and adaptation technologies, and (vi) adequate dissemination of the TA activities. The TA will focus on increasing awareness of the proven climate technologies and related conducive ecosystems, generating demand, contributing to the business development for ADB's both sovereign and nonsovereign operations, and supporting climate technology providers to succeed in deploying their technologies in the DMCs.

The TA aligns with the ADB's Strategy 2030 that promotes advanced technologies and private sector development and Climate Change Action Plan 2023-2030 which includes establishing and operationalizing the K-Hub as a climate action. It also aligns with the Paris Agreement that highlights the importance of technology for the implementation of mitigation and adaptation actions under the Agreement, and the priorities of the DMCs that recognize the critical role of technology in combating the climate crises, advancing their economic and social development, and improving living standards, as reflected in the G20 New Delhi Leaders' Declaration and G77's declaration of September 16 as the annual "Day of Science, Technology, and Innovation in the South."

Impact

DMCs' climate mitigation and adaptive capacity strengthened.

Project Outcome

Description of Outcome

The K-Hub established as a demand-driven center of excellence for climate change technological solutions.

Progress Toward Outcome

Implementation Progress

Description of Project Outputs

Climate technologies responding to DMCs' needs disseminated.

Policy options supporting climate technology deployment in DMCs recommended.

Climate technology application and deployment in the DMCs facilitated.

K-Hub office established and operationalized.

Status of Implementation Progress (Outputs, Activities, and Issues)

Geographical Location

Regional

Summary of Environmental and Social Aspects

Environmental Aspects

Involuntary Resettlement

Indigenous Peoples

Stakeholder Communication, Participation, and Consultation

During Project Design

Thirty one (31) stakeholders in the Republic of Korea (government offices, research institutes, technology associations and companies, international organizations, embassies, and nongovernment organizations) were consulted during 18 September to 13 October 2023.

During Project Implementation

Business Opportunities

Consulting Services

Four or five individual consultants with expertise in climate technology, public policy or economics, private sector investment, and research and office administration will be recruited in 2024

Procurement

A turnkey contract for the office fit-out will be procured and implemented in 2024

Contact

Responsible ADB Officer

Cai, Li

Responsible ADB Department

Climate Change and Sustainable Development Department

Responsible ADB Division

Partner Funds Division (CCPF)

Executing Agencies

Asian Development Bank

Timetable

Concept Clearance

01 Dec 2023

Fact Finding

18 Sep 2023 to 13 Oct 2023

MRM

-

Approval

12 Mar 2024

Last Review Mission

-

Last PDS Update

12 Mar 2024

Funding

TA 10287-REG