Following the launch of the ESCAP Regional Cooperation Mechanism on Low Carbon Transport in August 2022, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) has conducted a series of subregional consultation and capacity building workshops to mobilize transport ministries and key stakeholders in the Asia-Pacific region to engage in the transport and climate change policy process and to help advance the goals of the Paris Agreement through transport strategies. In each of these workshops, representatives from ESCAP member States shared their national low carbon transport goals, policy priorities and implementation action, as well as their experience in the development of their Nationally Determined Contributions (NDCs) and long-term low greenhouse gas emission development strategies. Discussions have led to the emergence of several common areas of priority and needs across the Asia Pacific region. This Regional Meeting will focus on one of these common priorities, which is the identification of climate financing mechanisms for low carbon transport. This topic was identified by ESCAP member States for in-depth analysis and technical assistance due to existing gaps in the technical, institutional and financial support that they are currently experiencing in the transition to low or zero carbon transport.
This regional meeting provides an opportunity for ESCAP member States and other stakeholders to present low carbon transport financing challenges, needs, as well as solutions. It also serves as a platform for multistakeholder engagement and to identify climate financing mechanisms best suited for low carbon transport in Asia and the Pacific through possible regional coordinated action.
