Learning with Partner CSO 4: Equitable Climate Finance for Asia and Pacific: How can Civil Society Promote Transparency, Accountability, and Participation?

Event: The 56th ADB Annual Meeting: Civil Society Program

Learning with Partner CSO 4: Equitable Climate Finance for Asia and Pacific: How can Civil Society Promote Transparency, Accountability, and Participation?

05 May 2023

by the Partnership for Transparency and Oxfam in Asia.

The session discussed the challenges and status of climate finance in Asia and the Pacific, ADB’s support and scale-up plans for climate action, and how CSOs can help improve equity and governance in climate finance operations by increasing transparency, accountability, and participation, and reducing leakages due to inefficiency and corruption. Oxfam in Asia highlighted that the climate finance being delivered is only a fraction of what is needed. Further, what is being delivered is mainly loans for mitigation, whereas concessional funds for adaptation are needed more. ADB is the largest financier of climate action in the region, thus, the CSO panelists highlighted the importance of enhancing people’s access to information on how climate finance is being allocated, spent, and for what purpose. A youth representative from Solutions for Development Impact offered ideas on how CSOs and youth can play roles in the design, implementation, and monitoring of climate finance projects; and how CSOs can constructively engage with governments and ADB to improve climate finance governance. Transparency International – Sri Lanka highlighted that many countries in the region lack effective transparency and accountability systems to prevent leakages due to waste, fraud, and corruption. This poses a high risk of leakages in climate finance which in turn would reduce impact. Partnership for Transparency noted that ADB and other donors have good systems for assuring integrity in projects supported by them. However, they could improve these systems by involving CSOs in independent monitoring and other oversight activities. This would require fit-for-purpose financing instruments and proactive support for expanded CSO engagement.

ADB’s chief of climate change thematic group Noelle O’Brien clarified that 41% of ADB’s US$6.7 billion climate financing in 2022 supported adaptation. She also announced that ADB launched at this 56th ADB Annual Meeting the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), inviting donors to provide guarantees for a portfolio of sovereign loans to free up additional lending headroom for ADB.

CSO Panelists:

Sunil Acharya, Regional Policy and Campaigns Coordinator, Oxfam in Asia
Nadishani Perera, Executive Director, Transparency International Sri Lanka
Lara Jean Salaysay, Educator, Solutions for Development Impact

ADB Panelist: Noelle O’Brien, Chief of Climate Change and Disaster Risk Management Thematic Group, Concurrently Director, Climate Change and Disaster Risk Management Division

Moderator: Vinay Bhargava, Chief Technical Adviser, Partnership for Transparency

Type of Content:

Learning Event

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