Recently, there has been a proliferation of climate fund initiatives
(multilateral and bilateral), which seek to mitigate climate risks and help the most vulnerable adapt to climate change. Although not specifically devoted
to transport, several of the existing climate funds can be used for the mitigation of GHG emissions or to reduce the negative effect of impacts activities in
the transport sector. These include, for example, the Global Environment Facilities, the Clean Technology Fund, the Global Climate Change Alliance, the Inter-
American Development Bank (IDB) Sustainable
Environmental Climate Change Initiative, the ADB
Climate Change Fund, and the ADB Clean Energy
Fund. Many of the funds include a sunset clause that
stipulates the necessary steps that will be taken to
conclude operations once a new UNFCC financial
architecture takes effect (see box 6.2). It is, however,
far from clear what the future funding landscape will
look like in the post-2012 regime.