Ground-Breaking Guidance Released on Improving Climate Change Finance To Reach Those Who Need It Most
This week during Asia Pacific Climate Week, UNDP launched a Guidance Note on how to create and refine Climate Change Financing Frameworks – the flagship product of UNDP’s Strengthening the Governance of Climate Change Finance Programme (GCCF).
The product, which guides Asia Pacific governments in the better management of climate finance and can increase the effectiveness of these growing resources in a region at risk – is a world first in providing advice and assistance for governments of the new frameworks.
Domestic and international resources to respond to and mitigate climate challenges are increasing in the region. The Climate Policy Initiative’s Global Climate Finance Landscape report estimates that in East Asia, South Asia, and the Pacific from 2015-2016 public investments for climate change reached USD 154 billion, and of this, 79% of finance was spent in the same country in which it was spent.
As these resources (particularly domestic resources) scale up, it is critical that governments have integrated whole-of-government strategies that ensure they are used efficiently and effectively to reach those who need them most.
To achieve this, specifically tailored Climate Change Financing Frameworks (CCFF’s) outline the policies and processes to better manage, mobilize and target climate finance. UNDP has assisted the governments of Cambodia, Nepal, Indonesia and Pakistan create CCFF’s and the new Guidance Note – Hard Choices, Integrated Responses - has drawn from the practical knowledge and lessons learned from that implementation.
“Increasing the effectiveness, efficiency, and equity of how climate finance is delivered will play a key role in how countries can move towards realising the Paris Agreement and the 2030 Agenda for Sustainable Development,” said Tom Beloe, UNDP’s Governance, Climate Change Finance and Development Effectiveness Advisor.
“Looking forward, climate financing strategies and CCFFs also present unique opportunities to integrate gender equality and other social development concerns to the mutual benefit of all agendas,” he added.
The note contains direct, tailored advice for Line Ministries, Climate Policy Bodies and Ministries of Finance and Planning including how to coordinate a CCFF programme of work.
Accompanying methodological notes will be issued that provide more detailed step-by-step guidance on building blocks within within a CCFF.
Date: Thursday, December 14, 2017