Making climate finance work for agrifood systems in Asia and the Pacific

A recent workshop in Phnom Penh, Cambodia, tackled how to improve climate funding for agriculture across Asia and the Pacific.

The event, organized by the ASEAN Climate Resilience Network (ASEAN-CRN) and the Food and Agriculture Organization (FAO), together with partners including CGIAR and International Rice Research Institute, brought together participants from across the region. The participants discussed the current state of climate finance for agriculture and explored the many funding options available. Workshops helped match these resources with specific needs, highlighting the importance of regional collaboration.

The workshop served as a platform for countries to reflect on their existing national climate change policies and strategies for the agriculture sector. It also identified technical needs that could be addressed through dedicated climate finance mechanisms. Looking beyond traditional funding models, the participants delved deeper into innovative options. Participants explored private and blended finance structures, carbon markets, risk-based financing approaches, and public models specifically designed for climate-resilient agrifood systems.

Furthermore, the workshop fostered regional collaboration by encouraging participants to build networks and identify potential partnerships. These partnerships aim to further investigate and develop investment opportunities that can propel the transformation towards a more sustainable, low-emission future for Asia-Pacific agriculture.

The workshop also marked the launch of a groundbreaking new grant program. The Southeast Asia Readiness Grant will provide several countries with support to access the Green Climate Fund (GCF) and implement the Koronivia Joint Work Programme for Agriculture. This is the first time such a grant has been used specifically for agriculture, and it’s a major achievement for ASEAN-CRN and FAO.

This activity is part of the CGIAR Initiatives on Asian Mega-Deltas and Low-Emission Food Systems.