Catalyzing climate finance: lessons learned from the Shandong Green Development Fund

This paper examines the establishment of the Shandong Green Development Fund; reviews its design, implementation, and impact; and assesses if this can be further developed and extended to other countries in the Asia and Pacific. This paper sets out the Asian Development Bank's (ADB) experience in establishing scalable institutional structures for climate finance and presents current and prospective ADB roles in support of such structures and resultant value addition. The paper also discusses key considerations in designing the operational systems of such institutions and provides policy rationale for government action.