CLIMATE-RESILIENTFISCALMANAGEMENTNOVEMBER2024EXPERIENCEFROMSOUTHEASTASIACLIMATE-RESILIENTFISCALMANAGEMENTNOVEMBER2024EXPERIENCEFROMSOUTHEASTASIACreativeCommonsAttribution3.0IGOlicense(CCBY3.0IGO)©2024AsianDevelopmentBank(ADB)6ADBAvenue,MandaluyongCity,1550MetroManila,PhilippinesTel+63286324444;Fax+63286362444www.adb.orgSomerightsreserved.Publishedin2024.ISBN978-92-9277-007-5(print);978-92-9277-008-2(PDF);978-92-9277-009-9(ebook)PublicationStockNo.TCS240523-2DOI:http://dx.doi.org/10.22617/TCS240523-2TheviewsexpressedinthispublicationarethoseoftheauthorsanddonotnecessarilyreflecttheviewsandpoliciesoftheAsianDevelopmentBank(ADB)oritsBoardofGovernorsorthegovernmentstheyrepresent.ADBdoesnotguaranteetheaccuracyofthedataincludedinthispublicationandacceptsnoresponsibilityforanyconsequenceoftheiruse.ThementionofspecificcompaniesorproductsofmanufacturersdoesnotimplythattheyareendorsedorrecommendedbyADBinpreferencetoothersofasimilarnaturethatarenotmentioned.Bymakinganydesignationoforreferencetoaparticularterritoryorgeographicareainthisdocument,ADBdoesnotintendtomakeanyjudgmentsastothelegalorotherstatusofanyterritoryorarea.ThisworkisavailableundertheCreativeCommonsAttribution3.0IGOlicense(CCBY3.0IGO)https://creativecommons.org/licenses/by/3.0/igo/.Byusingthecontentofthispublication,youagreetobeboundbythetermsofthislicense.Forattribution,translations,adaptations,andpermissions,pleasereadtheprovisionsandtermsofuseathttps://www.adb.org/terms-use#openaccess.ThisCClicensedoesnotapplytonon-ADBcopyrightmaterialsinthispublication.Ifthematerialisattributedtoanothersource,pleasecontactthecopyrightownerorpublisherofthatsourceforpermissiontoreproduceit.ADBcannotbeheldliableforanyclaimsthatariseasaresultofyouruseofthematerial.Pleasecontactpubsmarketing@adb.orgifyouhavequestionsorcommentswithrespecttocontent,orifyouwishtoobtaincopyrightpermissionforyourintendedusethatdoesnotfallwithintheseterms,orforpermissiontousetheADBlogo.CorrigendatoADBpublicationsmaybefoundathttp://www.adb.org/publications/corrigenda.Notes:Inthispublication,“$”referstoUnitedStatesdollars.ADBrecognizes“China”asthePeople’sRepublicofChinaand“Vietnam”asVietNam.CoverdesignbyRossLocsinLaccay.PrintedonrecycledpaperFiguresandBoxesivForewordviAcknowledgmentsviiAbbreviationsviiiExecutiveSummaryix1Introduction12Climate-RelatedFiscalRiskAssessment7ClimateRiskIdentification7ClimateRiskImpactAssessment9Climate-RelatedFiscalRiskDisclosureandIntegrationintoFiscalPlanningFrameworks123Climate-RelatedFiscalRiskManagement15RiskAssignment15ClimateInvestmentandFinancingStrategy17EnsuringaSustainableFiscalTrajectory21BuildingupFiscalResilienceAgainstClimate-RelatedShocks264ClimateFinanceMobilization30MobilizingandDeployingPublicFunds30MobilizingandDeployingPrivateCapitalandInternationalFunds345Conclusions37AppendixesICaseStudies:Climate-RelatedFiscalRiskAssessment40IICaseStudies:Climate-RelatedFiscalRiskManagement46IIICaseStudies:ClimateFinanceMobilization62ContentsFiguresandBoxesFIGURESBOXESE1FrameworkforClimate-ResilientFiscalManagementandClimateFinanceMobilizationxE2GoodPracticesinClimate-ResilientFiscalManagementandClimateFinanceMobilizationxiE3OpportunitiesforClimate-ResilientFiscalManagementandClimateFinanceMobilizationxii1FunctionsofCentralFinanceAgencies22FiscalRisksRelatedtothePhysicalImpactsofClimateChange33FiscalRisksRelatedtot...
