Initiative goal

A short- to medium-term investment framework to identify, align, and scale-up investment in mountain-specific climate priorities in the HKH

Regional programme
Special initiative
  • Directorate
Deepshikha Sharma

Deepshikha Sharma arrow

Initiative lead


Mountain-specific and climate-resilient investment framework

Mountain communities and governments across the HKH have identified ambitious actions to address climate change and ensure the actions align with COVID-19 recovery to climate action.

All eight countries have policies and plans in place to address climate impacts and build the resilience of mountain communities. However, there are challenges around implementation, policy coherence, and monitoring of the effectiveness of these plans.

The total cost of mitigation for seven HKH countries – Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, and Pakistan – is estimated at around USD 1,153 billion till 2030, and includes costs of energy transition, carbon sinks, and transportation. The cumulative cost of adaptation, as outlined in the Nationally Determined Contributions (NDCs) of Afghanistan, Bangladesh, India, and Pakistan, and Nepal’s National Adaptation Plan, is an estimated USD 354 billion till 2030. This estimate includes agriculture, and loss and damage.

This special initiative aims to develop and promote an investment framework in the HKH region to:

  • Identify and propose target bound investment opportunities for climate actions in the HKH region.
  • Establish an Investors Alliance to promote and attract investment in the HKH region.
  • Develop a management framework to operationalize the mechanism to deliver the investment framework.
  • Promote the investment framework at COP27 in Sharm El Sheikh in Egypt in November 2022.


Mountains of Opportunity Investment Framework for the HKH

This investment framework will enable investment partners – including HKH governments, mountain communities, financial institutions, private sector actors, and development partners – to identify, align, and scale-up investment in mountain-specific climate priorities in the near to medium-term. It identifies six investment priorities aligned to climate action and COVID-19 recovery that will contribute to climate-resilient, carbon-neutral mountain societies.

investment framework


The HKH and climate action

The decade spanning 2020–2030 is critical for climate action. 2021 was a key year since parties in the United Nations Framework Convention on Climate Change (UNFCCC) communicated their updated Nationally Determined Contributions (NDCs) to limit warming to well below 2°C above pre-industrial levels; increase their ability to adapt to the adverse impacts of climate change; and make finance flows consistent with climate-resilient and low-carbon development pathways. The year 2030 will also be an important milestone in achieving the Sustainable Development Goals (SDGs), which provides a shared blueprint for peace and prosperity for people and the planet, now and into the future.

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FEBA Annual Newsletter


What we want to achieve

This special initiative will build on the work initiated in 2020/2021 to identify and promote ambitious climate action in the HKH. In 2022, we aim to deliver three outputs:

Robust evidence and knowledge to support enhancing and mobilizing investments for ambitious climate action in the HKH

Policy engagement to shape the investment framework and investors alliance

Strategic communication and partner engagement to promote the investment framework at national, regional, and global levels



Building on the three key messages promoted during COP26 last year through our #HKH2Glasgow campaign, we aim to focus this year particularly on the second key message: Mountains of Opportunity.

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Knowledge products

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