Locations
While technology and a range of climate solutions have become more accessible, financing for climate action remains insufficient globally, particularly in Asia. As of 2024, of USD 1.3 trillion climate finance flows globally, only USD 584 million benefitted Asia and the Pacific for mitigation and adaptation initiatives.[1] Bridging this gap requires meeting financing needs where philanthropy could contribute to narrowing the finance gap. Against this backdrop, the United Nations Development Programme Bangkok Regional Hub under the Climate Finance Network (CFN) organized a two-day training course from February 27 to 28 in Bangkok, Thailand on philanthropy for climate action. The programme was facilitated by The Centre for Asian Philanthropy and Society (CAPS).
Under the access to climate finance workstream of UNDP’s CFN, the training brought together senior government officials from 12 countries to engender and increase domestic and foreign philanthropic capital for climate action. Participants engaged in peer-to-peer learning about the crucial interplay between policy, legal frameworks, and the practical steps needed to unlock the potential of philanthropy in addressing each country’s climate priorities.
The comprehensive program covered a wide range of topics, from the current state of climate finance and philanthropy in Asia-Pacific, to the role of governments in enabling such programs, and the diverse funding mechanisms to be leveraged, incentive structures, and areas for possible reform among others. Particular emphasis was made on entry points for philanthropy and synergies with sustainable and green finance through a range of instruments and structures.
In 2023, philanthropic funders from foundations and individuals worldwide contributed an estimated USD 9.3 billion to USD 15.8 billion to climate mitigation efforts alone in contrast to overall giving amounting to USD 885 billion. While 2023 figures reflect an increase of 10-20% from 2022, overall, only 2% of philanthropic giving has benefitted climate action.[2] At least between 2017 and 2021, Asia only received about 12% of philanthropic giving in contrast to about 30% benefitting north American and 15% for Europe.[3] This presents immense opportunity for foundations and individuals to contribute to mitigating the impacts of climate change.
The Climate Finance Network (CFN) is a regional program of UNDP, supported by the Government of Sweden and the UK Foreign, Commonwealth & Development Office (FCDO), and falls under the broader UK-funded Climate Action for Resilient Asia (CARA) program. The CFN facilitates strategic investments, solutions, and collaborative partnerships to make climate finance impactful and meet the urgent climate challenges while paving the way for a more sustainable and inclusive future.
[1] Climate policy initiative
[2] Climate works
[3] World Economic Forum - Catalysing Climate Action in Asia: Unlocking the Power of Philanthropic-Public-Private Partnerships
