SDG National Commitments Form: Submission #67

Title of commitment: UK support to the Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP).
Name of submitting Member State or Government: United Kingdom of Great Britain and Northern Ireland
Please indicate whether your commitment is intended to address SDG Progress at a national, regional or global level: Regional
Please outline briefly the commitment(s) made in the areas outlined above :
The UK is providing a guarantee of up to $300 million to the Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP). We estimate this will unlock up to $1.8 billion in additional, affordable, effective climate finance in the region over the next 5 years, meaning up to 6 times leverage of increased climate finance compared to our guarantee commitment.  Unlocked funding will enable a greater level of both adaptation and mitigation investments: IFCAP will support vulnerable populations to adapt to the impacts of climate change by increasing their resilience to natural disasters; IFCAP will also support the ADB’s work in financing renewable energy projects, energy efficiency programmes, and policy and regulatory measures to accelerate a clean and just transition from fossil fuels to low carbon energy sources. The Innovative Finance Facility for Climate in Asia and the Pacific (IFCAP) is a multi-donor financing partnership facility set up by the Asian Development Bank (ADB) with the goal of scaling-up finance for accelerated action against climate change in Asia and the Pacific. 

Does the commitment include a new national benchmark for reducing poverty and inequality by 2027? If yes, please indicate the benchmark below: :
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Please explain how national planning and institutional frameworks will be strengthened to support progress of the commitment: :
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Which of the following, if any do your strengthened institutional frameworks seek to address?: Making SDG achievement a more central focus in national planning and oversight mechanisms, Aligning domestic budgets and financing with the SDGs
If you have any further information to share please upload the information here, or provide a link to applicable site or document below: {Empty}
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Please provide the full name, title and email address of contact person::
Grace Wood, Sustainable Development, UK Mission 

Please provide the official email address of your country’s Permanent Mission in New York, for verification purposes.: grace.wood@fcdo.gov.uk
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