Strengthening the Asian City Climate Project Pipeline
This resource guide provides best practice and knowledge on climate finance access and implementation for cities in the Asia Pacific (APAC) region, based on 2024 activities.


The climate finance landscape in APAC: overview
Across Asia and the Pacific, an estimated US$2 trillion in annual investment is needed to meet NDC targets for 2022 to 2030. This demand for investment far exceeds the annual global climate finance of US$1.27 trillion for 2021 to 2022 [5].
Current climate finance represents only 1% of global GDP, while some estimates for emerging markets and developing economies (EMDEs) suggest that specific countries might have to allocate around 6.5% of their GDP by 2030 [6].
Emerging and developing Asia will need at least US$1.1 trillion annually for climate mitigation and adaptation investments. Actual investment falls short by US$800 billion. Under an optimal scenario for carbon reduction, EMDEs here would need more than US$1.1 trillion per year to finance investments in both climate change mitigation and adaptation [7].
APAC pipeline of city climate projects 2024: key findings
Our regional pipeline of city climate projects provides actionable insights on urban investment needs and priorities across the APAC region. It offers valuable information on the types of projects that cities here are seeking to advance for climate action, as well as key areas for private and public investment, and regional and sector needs.
In 2024, 188 APAC cities disclosed through CDP-ICLEI Track – see the key takeaways below:
cities disclosed 262 climate projects worth US$34.6 billion, seeking US$12.7 billion in investment for these.
These cities spanned 16 countries.
new cities reported 82 projects, primarily in Thailand and Australia.
of total reported projects are at an early stage of development (ie they’ve not yet reached the structuring phase).
Many are potentially eligible for preparation support to advance towards implementation.
is where demand for preparation support is most evident (at a subregional level).
62% of early-stage projects (79 projects) were reported by cities here.
of projects are relatively small-scale at less than US$500,000 (out of the 167 projects with cost estimates).
These were largely disclosed by small- and medium size cities, highlighting the need to mainstream aggregation strategies with the support from national governments.
projects (212) are seeking financing or funding (out of the 259 projects with a reported financing status).
Nearly half of these projects (47%) – mainly from Southeast Asia – have yet to secure any financing.
Meanwhile, the renewable energy and waste management sectors have the most reported projects, with 50 projects each. The renewable energy sector reportedly requires US$3.3 billion in total investment, while the waste management sector needs US$703 million. Meanwhile, the transport sector has 39 projects seeking a total of US$3.2 billion.
Read our APAC City Climate Finance Snapshot 2022 and Global Infrastructure Snapshot 2023.

Disclosing sustainable infrastructure projects through CDP-ICLEI Track
Data from CDP-ICLEI Track shows that while cities’ demand for climate finance is increasing year on year, cities around the world continue to struggle to finance their climate actions and infrastructure projects.
As the main provider of data for financial institutions, CDP allows cities to disclose their climate infrastructure projects for which they are seeking funding or financing through question 9.3 in the CDP-ICLEI Track Questionnaire. The question is 90% aligned with the Cities Climate Finance Leadership Alliance’s (CCFLA) Harmonized Application Form for Technical Assistance and the Gap Fund Expression of Interest (EoL) form – this ensures that CDP’s data is valuable for key Project Preparation facilities (ie organizations that support cities in preparing investment-ready projects).
Project disclosure gives cities:
A platform to showcase project support and investment needs;
Access to learning and networking opportunities; and
Opportunities to influence advocacy and policy.
In 2024, CDP integrated the opportunity to report projects into questions 9.1 or 9.2 of our questionnaire, whether it is related to an adaptation or mitigation action. Identifying the link between a mitigation or adaptation action and a specific project can help jurisdictions identify a clear action plan for investment or budgeting. It also provides vital context to data users on the link between a jurisdiction’s targets, actions, and investable projects.
Learn more about how project disclosure can help your city.

Bank of America (BofA) and CDP capacity-building: 2024 program summary
In 2024, CDP conducted a capacity-building program supported by the Bank of America Charitable Foundation to help local government representatives build their knowledge and understanding of data gaps in the implementation and financing of climate adaptation and resilience action.
This program is the latest in four years of capacity-building activities between both parties.
The 2024 program consisted of:
Training workshops for selected cities with city climate finance expert speakers;
Peer-to-peer knowledge exchange between cities; and
The exchange of resources and opportunities for city climate finance.
Key learnings
CDP focused on bridging the climate resilience implementation gap in Asian cities.
We conducted a series of five workshops with the objective of:
Enhancing urban resilience;
Increasing the quality and quantity of sustainable infrastructure projects reported by Asian cities;
Bridging implementation and financing gaps, to help prepare projects for funding;
Strengthening the project pipeline of climate-smart urban projects, to ensure eligible projects could be linked to potential technical assistance;
Disseminating knowledge resources and best practices among participating cities, to foster regional cooperation and shared learning (in order to accelerate climate action); and
Building capacity for financial viability, with city officials gaining insights and skills to improve access to technical assistance (that in turn advance project-to-project implementation).
The workshops featured a diverse group of speakers working on issues related to climate change adaptation, such as the private sector, NGOs, project preparation facilities, and other local authorities:
Best practice guidance and resources for APAC cities
Key barriers and solutions to accessing climate finance for cities
Barrier | Solution |
---|---|
Insufficient awareness and understanding of climate change impacts and responses at the local level | Build sustainable climate change expertise through training-of-trainers (TOT) programs, to ensure knowledge retention and dissemination |
Low capacity to prepare and pitch bankable projects | Institutionalize capacity-building programs that provide a structured and ongoing approach to developing these skills |
Complicated processes and poor coordination | Enhance interdepartmental coordination at the city level to streamline climate finance processes |
Limited support for local implementation of national goals | Establish stronger institutional frameworks to support local-level alignment with national climate policies |
Unclear regulations governing climate finance | Offer targeted training programs to build knowledge of regulatory processes and compliance requirements |
Lack of access to structured support for project preparation at the national level | Create Project Preparation Facilities (PPFs) anchored in national institutions to provide technical assistance for project development |
Limited knowledge of climate finance mechanisms | Localize climate finance information plus establish dedicated liaison officers at local, regional, and national levels |
Limited political autonomy | Introduce legal reforms to enhance decentralization and empower local governments |
Indirect access to finance | Promote a multilevel governance approach to ensure direct access to funding at the subnational level |
Weak enabling framework conditions | Strengthen enabling environments through legal, policy, and institutional reforms |
Cities lack the skills to develop project concept notes for financing | Strengthen municipal capacities for project identification and concept note development |
Lack of expertise in climate impact assessments, climate action planning, and project identification | Provide targeted technical training and workshops to build these skills |
Cities operate in isolation, missing opportunities to learn from each other | Foster inter-city networks and partnerships to facilitate knowledge exchange and best practices |
Poor inter-ministerial coordination | Establish mechanisms for better communication and coordination among sectors and government levels |
Complex legal and regulatory environments | Simplify regulatory requirements and conduct capacity-building programs to help cities navigate them |
Lack of expertise in engaging with funders | Train cities on building partnerships and pitching projects to climate finance providers |
Many city projects are too small to attract significant investment | Aggregate small-scale projects into larger, bankable programs to appeal to funders |
Resistance to change | Develop targeted communication strategies to improve awareness and education on climate science and its implications |
Project Preparation Process
Project Preparation is the process of defining, studying, refining, and developing an infrastructure project concept to the point that it becomes bankable, raising implementation financing from public or private sources.
The process involves the following steps:

Furthermore, Project Preparation Facilities (PPFs) can simplify the process by providing precise support. PPFs are organizations that support cities in developing investment ready projects. See our resources below to learn more about PPFs available to APAC cities.
Project finance: sources and instruments
Project finance may come from a variety of sources, the main ones being equity, debt, and government grants. Financing from these sources has important implications on a project's overall cost, cash flow, ultimate liability, and claims to project incomes and assets.

Selecting an adequate instrument and/or finance provider will depend on the type of asset recycling project, as well as the type of concessionaire/private partner selected. To learn more about the financial instrument for urban climate projects, please refer to the CCLFA Financial Instrument Toolkit.
Country-specific guidance
Guide to Climate Finance for Local Governments
This guide acts as a preparedness tool for Indonesian city officials as they develop climate resilient and sustainable infrastructure projects.
Case studies

Jambi City, Indonesia
Read our case study on Green Urban Transportation in Jambi City.

Tagum City, Philippines
Read our case study on the Carport Roof Mounted Solar and Retrofitting of Trade Center projects in Tagum City.
Footnotes
Adaptation Committee launches regional work to prepare ground for new era of strengthening climate resilience - UNFCCC (22 September, 2023)
A disaster emergency is underway in Asia and the Pacific as risks outpace resilience, warns new UN study [Press Release] - UNESCAP (25 July, 2023)
100 Climate Actions from Cities in Asia and the Pacific - ADB (2021)
2023 Highlights presentation - UNFCCC (2023)
Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions - ADB (2024)
Global Landscape of Climate Finance 2024: Insights for COP29 - CPI (2024)
Unlocking Climate Finance in Asia-Pacific: Transitioning to a Sustainable Future - IMF (2024)