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Legal Readiness to Attract Climate Finance: Towards a Low-Carbon Asia and the Pacific

DOI https://doi.org/10.21552/cclr/2018/1/4

Takako Morita, Christina Pak


The Parties to the Paris Agreement have made ambitious commitments to combat climate change - both in terms of greenhouse gas emissions and climate resilience targets as well as financial targets. In their Nationally Determined Contributions, most developing countries have made their commitments conditional on receiving international financial support. Developed countries and international organisations, in turn, have responded by offering various types of capacity development support. However, not enough attention has been paid to assessing the legal frameworks of the developing countries to identify legal barriers and opportunities for legal modernisation to optimise options for climate finance to fund their Nationally Determined Contributions. This article highlights some of these legal barriers and showcases examples from the Lao People’s Democratic Republic and the Republic of Fiji where the countries have embarked on legal modernisation.

Takako Morita, Counsel, and Christina Pak, Senior Counsel, Asian Development Bank. For correspondence: <mailto:tmorita@adb.org>, <mailto:cpak@adb.org>. The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area, or by using the term ‘country’ in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. ADB recognises ‘Laos’ as the Lao People’s Democratic Republic.

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