Climate change and biodiversity loss are two of the biggest global challenges this century and arguably the greatest regional challenge in the Asia-Pacific region. Moreover, the COVID-19 pandemic highlights the critical connection between human health and the health of nature. The pandemic continues to result in significant health, economic and social costs for small island developing states (SIDS), least developed countries (LDCs), and middle-income countries across urban and rural settings from the large megacities of Dhaka and Bangkok to the smallest island atolls in the Pacific.

Nature-based solutions (NbSs) are critical to climate action and one of the most requested areas of support to enhance nationally determined contributions (NDCs). Importantly, NbSs in NDCs can support climate mitigation and adaptation, as well as slow biodiversity loss, in a cost-effective manner. These intertwined crises require an integrated approach and unprecedented cooperation to achieve a nature-positive economic recovery and an equitable carbon-neutral and sustainable future. NbSs can play a critical role is this approach.

This report offers reference material and inspiration for UNDP and interested stakeholders to further support the design and implementation of NBSs in NDCs by enabling countries and local stakeholders to access various financing streams. It presents the importance of financing NBSs for NDCs through public, private and philanthropic foundations. The report also provides a non-exhaustive regional mapping of existing examples of financing NBSs at scale across climate change mitigation (e.g., REDD+), climate change adaptation (CCA), biodiversity, and disaster risk reduction (DRR) in Asia-Pacific. UNDP’s work in the nature, climate and energy portfolio has employed several of these options. Five case studies illustrate lessons for Asia[1]Pacific in financing NbSs for NDCs - Public-Private Partnership Approach; Debt-for-Nature Swap; Sustainable Tourism in Protected Natural Areas; Sustainable Cities; Agriculture, Forestry and Other Land Use sector.