行动呼吁：发展可持续资本市场，为能源转型融资，建设项目管道

Developing Sustainable Capital Markets, FinancingEnergy Transitions, and Building Project Pipelines The Economic and Social Commission for Asia and the Pacific (ESCAP) is the most inclusive intergovernmentalplatform in the Asia-Pacific region. The Commission promotes cooperation among its 53 member States and 9associate members in pursuit of solutions to sustainable development challenges. ESCAP is one of the five regionalcommissions of the United Nations. The ESCAP secretariat supports inclusive, resilient, and sustainable development in the region by generatingaction-oriented knowledge, and by providing technical assistance and capacity-building services in support ofnational development objectives, regional agreements, and the implementation of the 2030 Agenda for SustainableDevelopment. *The designations employed and the presentation of material on this map do not imply the expression of any opinionwhatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city orarea or of its authorities, or concerning the delimitation of its frontiers or boundaries. A Call to Action: Developing Sustainable Capital Markets,Financing Energy Transitions and Building Project Pipelines Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) United Nations publicationSales No.: E.25.II.F.7© United Nations 2025PRINT ISBN: 9789211543117PDF ISBN: 9789211587807Print ISSN: 2522-798XOnline ISSN: 2522-7998 Cover design: Dilucidar This publication was led by ESCAP and jointly prepared with the Asian Development Bank (ADB), Climate Bonds Initiative(hereafter Climate Bonds), the International Renewable Energy Agency (IRENA) and the United Nations FrameworkConvention on Climate Change Regional Collaboration Centre for Asia and the Pacific (UNFCCC RCC Asia-Pacific). This publication is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)https://creativecommons.org/licenses/by/3.0/igo/. By using the content of this publication, you agree to be boundby the terms of this license. This publication should be cited as: ESCAP, UNFCCC RCC Asia-Pacific, ADB, Climate Bonds and IRENA (2025).A Callto Action: Developing Sustainable Capital Markets, Financing Energy Transitions, and Building Project Pipelines. ESCAPFinancing for Development Series, No. 6. Bangkok: ESCAP. This publication and the material herein are provided “as is”. All reasonable precautions have been taken by ADB, ClimateBonds, IRENA, UNFCCC RCC Asia-Pacific and ESCAP to verify the reliability of the material in this publication. However,neither ADB, Climate Bonds, IRENA, UNFCCC RCC Asia-Pacific and ESCAP, nor any of their officials, agents, data- or otherthird-party content suppliers provide a warranty of any kind, either expressed or implied, and accept no responsibility orliability for any consequence of use of the publication or material herein. Material in this publication that is attributedto third parties may be subject to separate terms of use and restrictions, and appropriate permissions from these thirdparties need to be secured before any use of such material. The Creative Commons license does not apply to materialsattributed to third parties. The information contained herein does not necessarily represent the views of Climate Bonds and the views of allMembers of ADB, IRENA and UNFCCC RCC Asia-Pacific. The mention of specific companies or certain projects orproducts does not imply that they are endorsed or recommended by ADB, Climate Bonds, IRENA, UNFCCC RCC Asia-Pacific or ESCAP in preference to others of a similar nature that are not mentioned. The designations employed and thepresentation of material herein do not imply the expression of any opinion on the part of ADB, Climate Bonds, IRENA,UNFCCC RCC Asia-Pacific or ESCAP concerning the legal status of any region, country, territory, city or area or of itsauthorities, or concerning the delimitation of frontiers or boundaries. FOREWORD and accelerating climate change impacts– Asia and the Pacific was already off track to achieve the SDGs. Thewidening SDG financing gap, now estimated at between $2.5 trillion and 4.0 trillion annually for developingcountries globally, underscores the urgency of action. To address these challenges, the region needs to transformits financing approaches. Ten years after the Addis Ababa Action Agenda, the road to 2030 and beyond remains difficult but navigable,provided that we act collectively and with ambition, urgency and resolve. The Fourth International Conference onFinancing for Development (FFD4) in Seville in July 2025 aims to reaffirm the global commitment to mobilizingand aligning all sources of finance for sustainable development. The conference calls for systemic reform of theinternational financial architecture and the creation of new development pathways. This sixth edition of ESCAP’s biennial Financing for Development series supports the conference’s call toaction, and