Climate forum considers innovative finance, technology

This article first appeared on SciDev.net.

A regional forum on climate change adaptation, co-hosted by the Asian Development Bank (ADB), provided an opportunity to discuss innovative technology and financing to build resilience to disasters and climate adversities.

Participants of the 6th Asia-Pacific Climate Change Adaptation Forum (17—19 October) discussed, for example, the merits and demerits of using improved hydraulic rams or hydrams, which are devices capable of pumping water up heights without using electricity or fossil fuels.

“With the help of a hydraulic ram, you can pump water up to 100 meters without any energy,” said Vivek Dhar Sharma, national programme assistant at the Global Environment Facility’s small grants programme in Nepal. “This kind of technology can be especially useful in highland areas,” adding that hydrams have the advantage of being able to be manufactured locally and parts, such as valves, are readily available in most countries of the region.

While solar-powered water pumps are also environment-friendly, they are comparatively costlier to install and maintain and many countries of the Asia Pacific region have to import them.

Hydrams, which are powered by the kinetic energy of flowing water, gravity and hydraulic pressure, easily justify the theme of the forum — ‘Enabling Resilience for All: Avoiding the Worst Impacts’.

The forum, co-hosted by the Climate Change Commission of the Government of the Philippines, the Government of the Republic of Palau, and the ADB, also considered innovative financing to tackle the effects of climate change.

Ananya Basu, principal economist at the ADB, discussed a relatively new funding model that is suitable for dealing with natural disasters. In 2016, ADB introduced contingent financing, which is organised in advance and can be spent at the sole discretion of the borrowing country up to a pre-arranged maximum amount.

“Many of our countries don’t have resources set aside for a disaster so they have to rely on budgetary allocations, which takes money away from existing programmes and priorities,” Basu told SciDev.Net. “We don’t want that and they don’t want that either. Insurance can be expensive. Our assistance fills the gap for immediate money needs.”

Post a comment