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Adequate Funding, Capacity, Key To Accessing Climate Change Funds – UNFCCC

By Faridat Salifu

Adequate funding and national capacity are essential to accessing available resources for climate change mitigation projects. This was the main takeaway from a recent virtual dialogue of the UNFCCC Climate Change Adaptation Committee.

The virtual dialogue meeting hosted by the UNFCCC Climate Change Adaptation Committee underscored the pressing need for countries to access funding and bolster their capacities for climate adaptation even as climate change impacts intensifies.

Mariam Allam, Co-Chair of the UNFCCC’s Adaptation Committee, emphasized the need for more financial resources and enhanced capacities to access diverse funding sources through long-term strategies developed by each country.

He said countries require funding for various adaptation measures such as constructing seawalls against rising sea levels and strengthening the resilience of communities facing severe weather events

According to the Committee, national climate action pledges and adaptation plans play crucial roles in defining adaptation priorities.

Ministries must align their efforts to enhance access to finance for adaptation by valuing resilience in decision-making, interpreting climate data effectively, and fostering collaboration among stakeholders.

For instance, Fiji’s national climate finance strategy involves consultation with government ministries and development partners to identify projects that protect at-risk communities.

In Peru, Colombia, and Brazil, collaborative projects have helped ministries invest public resources in climate-resilient infrastructure.

Improving capacity to interpret and apply climate data is vital for drafting funding proposals and enabling the flow of finance aligned with resilience goals.

Frameworks such as the OECD’s climate adaptation investment framework and the Green Climate Fund’s Climate Investment Planning and Mobilisation Framework offer guidance for countries to analyze their situations and develop finance and investment strategies.

The GCF’s new readiness strategy for 2024-2027 aims to enhance national capacities by providing longer-term support and specific windows for direct access entities to make a case for adaptation funding.

Consultations and knowledge exchanges will be critical to bridging adaptation finance gaps as more countries work towards implementing climate adaptation plans.


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