ASEAN Climate Finance Policy Platform

ASEAN Climate Finance Policy Platform Launch (Manila, August 2024)
ADB organized the inaugural meeting of the ASEAN Climate Finance Policy Platform in Manila on 27 August 2024, which will equip officials with the tools and knowledge to address climate risks in fiscal and economic planning.

By fostering collaboration and enhancing skills, the platform aims to ensure that new climate policies have long-lasting impact.

ASEAN Climate Finance Policy Platform Launch
By fostering collaboration and enhancing skills, the platform aims to ensure that new climate policies have long-lasting impact.

Then ADB Southeast Asia Department Director General Winfried Wicklein and Lao PDR Deputy Finance Minister Phouthanouphet Saysombath chaired the meeting.

ASEAN Climate Finance Policy Platform Launch
Then ADB Southeast Asia Department Director General Winfried Wicklein and Lao PDR Deputy Finance Minister Phouthanouphet Saysombath chaired the meeting.

Cambodia Minister of Economy and Finance Pen Thirong highlighted the need to strengthen institutional and technical capacity of ASEAN finance ministries to mainstream climate action and mobilize climate finance.

ASEAN Climate Finance Policy Platform Launch
Cambodia Minister of Economy and Finance Pen Thirong highlighted the need to strengthen institutional and technical capacity of ASEAN finance ministries to mainstream climate action and mobilize climate finance.

Philippines Finance Undersecretary Luwalhati Tiuseco lauded efforts of ASEAN 2024 Chair Lao PDR and ADB in initiating the ASEAN Climate Finance Policy Platform, which will facilitate policy dialogues, research, and capacity building.

ASEAN Climate Finance Policy Platform Launch
Philippines Finance Undersecretary Luwalhati Tiuseco lauded efforts of ASEAN 2024 Chair Lao PDR and ADB in initiating the ASEAN Climate Finance Policy Platform, which will facilitate policy dialogues, research, and capacity building.

Advancing climate finance through ASEAN Ministries of Finance

The ASEAN Climate Finance Policy Platform (ACFPP) is an ADB-supported regional initiative that brings together Ministries of Finance across Southeast Asia to strengthen policy frameworks, build institutional capacity, and mobilize finance for climate action. It is operating on a pilot basis from 2025 to 2027.

The platform supports ASEAN cooperation in finance by convening policy dialogues, generating knowledge, and delivering targeted capacity building—helping countries integrate climate considerations into fiscal and financial decision-making and scale up investment for climate priorities.

Focus areas (2025–2027)

Climate-related fiscal risk and resilience
Environmental taxes and carbon pricing
Carbon markets and sustainable finance
Climate-responsive public financial management

Learn more.

Why It Matters

Climate change is placing increasing pressure on ASEAN economies, with rising investment needs for mitigation, adaptation, and resilience—while fiscal space remains constrained.

Ministries of Finance play a central role in addressing this challenge. Through fiscal policy, budgeting, taxation, and debt management, they shape how public resources are allocated and how private investment is mobilized. Across ASEAN, countries are advancing reforms such as climate budgeting, green bonds, and carbon pricing. However, capacity, tools, and experience vary significantly, and opportunities for structured peer learning remain limited.

The ACFPP provides a platform for ASEAN finance ministries to share experience, develop policy approaches, and strengthen their ability to align financial systems with climate and development goals.

Women and children evacuate their homes because of severe flooding in their area. Photo credit: ADB.

Events

Climate-Responsive Public Financial Management Dialogue 2026

In-country Climate Finance Training 2026

Past Events

Resources

ASEAN Climate Finance Policy Platform 2026

This brochure provides an overview of the ADB-supported initiative to strengthen the role of ASEAN finance ministries and policymakers in addressing climate change.

Accelerating Green Bonds for Municipalities in Southeast Asia

This report examines how green, social, and sustainable bonds can help municipalities raise capital to finance climate-resilient infrastructure and drive green, inclusive growth.

Climate-Resilient Fiscal Management: Experience from Southeast Asia

This report considers how finance ministries can respond strategically to climate risk, highlighting good practices from the region.

All Publications

Articles

The Independent High-Level Expert Group on Climate Finance estimates that $6.3 trillion–$6.7 trillion in global investment is required annually by 2030 to deliver the Paris Agreement. Photo credit: ADB.

Climate Risks and Fiscal Health: Three Takeaways for Southeast Asia

With enhanced tools, inter-agency coordination, and capacity building, finance ministries can significantly accelerate the development of climate-resilient fiscal systems.

About $7.4 trillion in climate finance is needed annually through 2030, according to CPI estimates. Photo credit: iStock/Jason T. Mulvaney.

Leveraging NDC Climate Pledge Updates to Bridge the Finance Gap

While climate finance has grown at unprecedented rates in recent years, reaching $1.46 trillion in 2022, these flows still fall short of global needs.