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Project

Inclusive Climate Finance for Vulnerable Communities in the Asia Pacific (ICCAP)

The Inclusive Climate Finance for Vulnerable Communities in the Asia-Pacific (ICCAP) project is funded by the International Climate Initiative (IKI) and will be implemented from 2024 to 2029. It is designed to enhance economic, social, and environmental resilience in vulnerable regions across Asia and the Pacific by channelling national and international public and private climate adaptation finance flows to vulnerable communities and marginalized groups affected by climate change. 

It supports the development and scaling of green financial products that are aligned with countries’ Nationally Determined Contributions (NDCs) and meet the needs of rural smallholders and climate-vulnerable populations, including women, Indigenous Peoples, persons with disabilities, and those who are economically and socially excluded.

Grounded in a strong commitment to inclusion and equity, ICCAP promotes locally led solutions, strengthens private sector engagement, and supports climate-resilient, sustainable development across the Asia-Pacific region. 

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Photo: Noah Buscher / Unsplash.

Active project

2024–2029

ICCAP is focused on advancing climate adaptation by achieving a triple bottom line:

Graphic: SEI Asia

Focus areas and key interventions

Policy Analysis, Cooperation, and Engagement

Objective:
To create an enabling environment for inclusive green finance by identifying policy gaps, promoting best practices, and strengthening policymaker capacity across Asia-Pacific.

Scope:

The project will undertake an in-depth analysis of policy and regulatory frameworks to support the adoption of inclusive climate finance policies. It will produce evidence-based, gender-responsive policy recommendations, best practices in green finance, and stakeholder engagement strategies to ensure that climate finance systems are inclusive, locally grounded, and responsive to the needs of vulnerable communities. 

Stakeholders:

National and local governments, financial regulators, private sector stakeholders, and civil society organizations.

Capacity Development for Financial Service Providers

 Objective:
To support financial service providers (FSPs) in delivering client-centric green financial products tailored to the needs of vulnerable populations.

Scope:

The project will offer technical assistance to at least 14 FSPs across six countries, enabling them to design, pilot, and scale inclusive green credit products. It will help FSPs align with sustainability principles, improve investment readiness, and build systems for tracking the performance of their green finance portfolios. 

Stakeholders:
FSPs and their clients, as well as green technology providers, investors, and policymakers who support inclusive finance innovation.

Regional Adaptation Investment Facility (RAIF)

Objective:
To catalyse private investment in local climate adaptation strategies by establishing a regional finance platform.

Scope:

The project will establish the RAIF—an innovative facility that channels public and private capital for climate adaptation through FSPs. It will back instruments like blended finance, hedging, and green bonds, with a flexible design to adapt to markets and scale long-term resilience investments.

Stakeholders:
Institutional investors, development banks, national governments, and FSPs seeking to expand their adaptation finance offerings.

Multi-Stakeholder Action Labs (MALs)

Objective:
To co-create locally relevant, innovative, and bankable adaptation solutions in partnership with communities and climate finance pipeline stakeholders.

Scope:

The project will pilot six Multi-stakeholder Action Labs using a participatory, beneficiary-centred approach to develop and test innovative and needs-responsive adaptation solutions. These labs will bring together climate-vulnerable communities and marginalised groups, private sector actors, policymakers, and technical experts. The co-developed adaptation solutions will be linked to financial products designed by FSPs and scaled through financing catalysed by the RAIF. 

Stakeholders:
Local climate-vulnerable communities and marginalized groups, FSPs, local policymakers, technical experts, and private sector actors.

Gender Equity and Social Inclusion (GESI)

Objective:
To ensure that all ICCAP activities are inclusive and responsive to the needs of marginalised and climate-vulnerable populations.

Scope:

The project will mainstream GESI across the project by applying intersectional analysis, integrating inclusive MEL frameworks, and supporting gender-responsive financial design. It will help ensure ICCAP advances inclusive climate finance through the development of GESI toolkits, capacity strengthening for FSPs and partners, and implementation of a gender-transformative pilot that addresses root causes of financial exclusion by co-developing financial solutions at the local level. 

Stakeholders:
Historically marginalised groups (including women, Indigenous Peoples, ethnic minorities, persons with disabilities), FSPs, local stakeholders, civil society organisations, and ICCAP implementing partners.

Where we work and who we support

ICCAP targets six high-risk countries in Asia-Pacific, selected for their climate vulnerability and urgent need for adaptation finance:

Graphic: SEI Asia

Beneficiaries:

  • Low-income, rural, and climate-vulnerable communities
  • Women, Indigenous Peoples, and persons with disabilities
  • Those reliant on natural resources for food security and livelihoods

Climate finance stakeholders

  • Financial service providers (FSPs)
  • Government agencies, ministries, and central banks
  • Institutional investors (public, private, and impact investors)
  • Green technology service providers
  • Civil society organisations

Target impact at a glance

  • Graphic: SEI Asia

    250 million EUR of public and private finance catalysed for climate adaptation

  • 14,000 direct beneficiaries across six countries
  • 50% will be women, Indigenous Peoples, or rural poor
  • Financial products tailored to local climate risks and country NDCs
  • Regional financing scheme to mobilise private capital 

Stockholm Environment Institute Asia Centre

For over 20 years, SEI Asia has played a leading role in research and policy engagement on sustainable development across Asia and the Pacific. The Centre is strengthening its focus on addressing the interconnected crises of climate change, biodiversity loss, and pollution—recognising finance, policy, and institutions as critical enablers of systemic transformation.

Based in Bangkok, Thailand, and hosted by Chulalongkorn University, SEI Asia bridges knowledge and action to support just and equitable transitions. Climate and sustainable finance are increasingly central to the Centre’s work, with a strong emphasis on designing and mobilising inclusive financing solutions that enable climate adaptation, resilience, and low-carbon development, particularly for vulnerable and underserved communities.

SEI Asia is the consortium lead for the ICCAP project and leads the Regional Adaptation Investment Facility, Multi-stakeholder Action Labs, and the cross-cutting theme of Gender Equity and Social Inclusion.

Appui au Développement Autonome (ADA)

ADA (Appui au développement autonome) is a Luxembourgish, non-governmental organisation that has been increasing the autonomy of vulnerable people in Africa, Central America and South-East Asia with inclusive finance since 1994, thereby contributing to achieving the sustainable development goals.

ADA leverages its resources and expertise to innovate, support local partners, implement technical support programmes, give investment advice and manage knowledge to positively and sustainably impact targeted populations.  

For the ICCAP project, ADA provides support for financial service providers (FSPs) in delivering client-centric green financial products tailored to the needs of vulnerable populations.

Asia-Pacific Rural and Agricultural Credit Association (APRACA)

APRACA is a regional organisation focused on rural and agricultural finance, working to advance productivity, inclusive growth, self-reliance, and the well-being of rural communities across the Asia-Pacific region. It seeks to enhance the efficiency and effectiveness of rural finance systems and expand access to financial services by fostering knowledge sharing and learning, strengthening institutional and human capacities, undertaking applied research, and facilitating the exchange of expertise among its members and partners.

For the ICCAP project, APRACA identifies policy gaps, promotes best practices, and strengthens policymaker capacity across Asia-Pacific to create an enabling environment for inclusive green finance.

Climate Finance for Professionals Online Courses

As part of the “Enabling inclusive climate finance in Asia through fit-for-purpose capacity development planning and action” project, the Center for Ecological Economics (CEE), Faculty of Economics, Chulalongkorn University, in collaboration with the Stockholm Environment Institute (SEI), is offering the Climate Finance for Professionals Course in 2026. The course is available in English and Thai.

Learn more about the project


IKI’s independent complaint mechanism and SEI’s anti-corruption, ethics and whistleblowing policies will guide ICCAP. All program participants must give free and prior informed consent as part of these policies. 
 
To report any incidence of misconduct, visit this website.
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SEI Asia
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Asia