Third Roundtable of the ADBI-ADB Asian Climate Finance Dialogue

Time of Event

Day 1: 09:30–17:30 Singapore time
Day 2: 09:30–14:00 Singapore time

Summary

In November 2023, ADBI in collaboration with the Asian Development Bank (ADB), launched the ADBI-ADB Asian Climate Finance Dialogue to promote policy actions by governments, financial regulators, and central banks and deepen understanding of climate-related information disclosure to scale up climate finance while ensuring financial sustainability.

The Third Roundtable of this project will focus on climate finance, particularly transition finance approaches. Transition finance is an emerging concept, and while it aims at supporting the whole-of-economy transition, it is important to increase finance for decarbonization efforts of entities that (i) are emissions-intensive and hard-to-abate sectors (such as steel, aluminum, cement, and aviation),  (ii) may not currently have a low- or zero-emission substitute that is economically available or credible in all relevant contexts, but (iii) are important for future socioeconomic development. To date, there is no consensual definition of transition finance, and countries and some subregions have tended to develop their own contextual approach. The roundtable will provide an overview of existing frameworks and stimulate dialogue among jurisdictions on challenges related to scaling up transition finance. It will also cover taxonomies, especially focusing on transitional activities, which are increasingly being adopted by some Asian economies to increase credibility and transparency for investors.

Objectives

• Raise awareness on the importance of transition finance and promote appropriate policy actions by governments and financial regulators
• Gather data on current practices, challenges, and implementation plans from each regulator
• Stimulate policy dialogue on these topics and sharing of international best practices

Target Participants

• Policy makers and regulators from Asian Development Bank member economies.
• Experts from ADB and ADBI

Output

• Increased information on countries' approaches to transition finance and taxonomies through a questionnaire before the event and the subsequent discussions
• Increased awareness of the importance and challenges of transition finance to scale up climate finance and build financial stability in the future
• Strengthen policy dialogue with exchange on good practices and areas to be improved

Partners

Asian Development Bank (ADB)