The financing needs for climate change adaptation in developing countries for 2010-2050 are estimated at $100B per year, equivalent to current official development assistance levels across all sectors. As part of the 2009 Copenhagen Accord, Parties to the United Nations Framework Convention on Climate Change agreed to provide eligible countries worldwide $30 billion in "fast-start" financing for 2010-2012, while setting a goal of moblizing $100 billion per year by 2020. Developing countries, however, face major capacity challenges in preparing project proposals to access these funds. An urgent task for the development community, therefore, is to assist developing countries in preparing high-quality adaptation projects. At present there is no adaptation mechanism in Asia meeting this need.
Principal Objectives and Activities:
The principal objective of Adapt Asia-Pacific is to establish a fully functional and self-sustaining adaptation project preparation facility that will not only support preparation of specific projects, but also build the capacity of the region’s governments to independently access climate adaptation funds. To establish a sustainable project preparation facility, Adapt Asia-Pacific works closely with funding organizations and government agencies from countries across the region in focused activities in five key areas: (1) sustainable regional knowledge sharing platform; (2) annual forum to bring adaptation funds and project proponents together; (3) climate change adaptation project capacity building program; (4) technical assistance in preparing funding proposals; and (5) overarching program management and coordination for the aforementioned four technical tasks. As cross-cutting themes, Adapt Asia-Pacific will promote regional networking, gender and other social equity issues.
Adapt Asia-Pacific focus countries include Bangladesh, Cambodia, India, Indonesia, Laos, Maldives, Mongolia, Nepal, Philippines, Sri Lanka, Thailand, Timor-Leste, and Vietnam. Eligible nations in the Pacific include: Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.