Results achieved as of December 2024 include: (1) allocated US$105.6 million in concessional loans. This is achieved through 8 private sector-led initiatives that promote sustainable, inclusive, low-carbon, and climate-resilient development across Indo-Pacific developing countries; (2) helped reduce an estimated 2.02 million tons of greenhouse gas emissions through renewable energy projects in Afghanistan, Cambodia, Indonesia, Uzbekistan, and Vietnam. This is equivalent to removing over 561,000 cars off the road for one year; (3) installed an estimated 289.1 megawatts of renewable energy capacity; (4) produced over 3,900 gigawatt hours of renewable energy; (5) created over 7,300 jobs; and (6) increased gender equality and women’s empowerment in 90% of all funded projects. This is done through initiatives helping to create jobs, providing training, promoting gender-responsive workplaces and corporate policies (e.g., anti-sexual exploitation, abuse and harassment policies), gender-inclusive procurement, and support for local women’s entrepreneurship. To date, CFPS II is on track to exceed its climate mitigation targets over the fund’s 28-year lifespan. Since the beginning of this fund to date, Canada’s Concessional financing has contributed to several landmark climate projects in the Indo-Pacific region. This includes the first privately developed large scale solar projects in Afghanistan, Indonesia and Uzbekistan. It has also supported Southeast Asia’s first and largest floating solar project in Vietnam, Southeast Asia’s largest cross border wind power plant in the Lao People’s Democratic Republic that provides power to neighbouring Vietnam, and Nepal’s first private sector-led hydropower project.
