Governments in Asia and the Pacific are navigating fiscal reforms and enhancing governance to align finance with climate action. This includes using national adaptation plans, climate-inclusive fiscal frameworks, and green budget tagging initiatives.
Addressing the climate emergency will require all the funding possible from as many diverse sources as possible. Islamic climate finance instruments could help in Asia and in many other parts of the world.
Transition finance, which provides financing to high carbon-emitting industries, should be part of a broad range of innovative financing options to address climate change.