Increasing Country Capacity for Climate Finance in Asia and the Pacific - Side Event Remarks

Mr. Ye, the Permanent Representative of the People's Republic of China to UNESCAP,

Excellencies,

Distinguished Guests, 

Colleagues and Friends.

I am pleased to join you today for this side event on increasing country capacity for climate finance in Asia and the Pacific. I would like to thank our co-organizers, the Rockefeller Foundation, the Stockholm Environment Institute, and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), for their invaluable partnership in convening this important discussion.

I would also like to express our particular gratitude to the Rockefeller Foundation for its long-standing collaboration with the UN Resident Coordinator’s Office in China. Since 2021, their support has enabled us to deepen our collective efforts to mobilize solutions to accelerate progress towards the Sustainable Development Goals in China and abroad.

We gather today at a critical time of challenges. The Asia-Pacific region is on the frontline of climate crisis, confronting rising sea levels, intensifying extreme weather events, and increasing economic disruptions. According to UNESCAP, Asia and the Pacific account for over 60% of global greenhouse gas emissions, while simultaneously being one of the most vulnerable regions to climate-induced disasters. In 2024 alone, the region experienced unprecedented heatwaves, floods, and cyclones, displacing millions and causing economic losses amounting to billions of dollars.

Yet, despite the urgent need, climate finance flows remain insufficient, uneven, and often inaccessible to those who need it most. At last year’s COP29 Climate Conference in Baku, nations recognized the imperative to scale up finance for developing countries, committing to a target of USD 1.3 trillion annually by 2035 to achieve the Sustainable Development Goals (SDGs). To close this gap, we must broaden access to climate finance, strengthen institutional capacity, and foster multi-stakeholder collaboration to ensure resources reach the communities most vulnerable to climate change.

This session is particularly relevant in the broader context of global commitments, directly contributing to the realization of the 2030 Agenda for Sustainable Development and aligning with the vision of the Pact for the Future, which seeks to accelerate progress on the SDGs. Moreover, it comes at a crucial moment as we look ahead to the Fourth International Conference on Financing for Development Forum in Spain later this year. We must seize these opportunities to drive systemic changes that scale up, enhance, and broaden the inclusivity of climate finance, while ensuring that countries have the institutional capacity to effectively implement mitigation and adaptation projects and policies. 

As UN Secretary-General António Guterres stated at this year’s World Economic Forum, “We need a surge in finance for climate action in developing countries, to adapt to global heating, slash emissions and seize the benefits of the renewable revolution. We need to tackle high capital costs that are leaving developing countries behind.” 

The UN Country Team in China is actively advancing climate finance solutions by supporting national partners in strengthening policy frameworks, facilitating South-South cooperation, and promoting innovative financial instruments. The UN in China is fostering multi-stakeholder dialogues and collaborations between the government, private sector, and civil society to mobilize finance for nature-based solutions, green infrastructure, and sustainable development initiatives, models that can be shared with other countries in need.

Today’s discussion presents an opportunity to exchange insights, share best practices, and identify practical steps to enhance climate finance capacity across the region. I encourage all of us to consider how we can carry forward the lessons learned here to drive systemic change in the climate finance landscape. Let us commit to strengthening the mechanisms that will ensure climate finance is accessible, transparent, and impactful. Together, we can forge pathways that will not only mitigate climate risks but also promote resilience and sustainable prosperity for future generations.

Thank you.