A year after its inaugural meeting, the Board of the Green Climate Fund (GCF) left its fifth meeting in Paris earlier this month with a collective sense of urgency. The GCF is expected to become the main vehicle for disbursing climate finance to developing nations, so the decisions made at this most recent meeting significantly impact the future of climate change mitigation and adaptation. Encouragingly, Board members stepped up to the important task before them, making progress across several key issues. Their decisions made it clear: The GCF’s inception phase (referred to officially as "the interim period") is over—the focus now is on funding it and launching its operations.
While leaders in Washington, D.C. grapple with a potential national economic crisis, in Florida, mayors and citizens are taking action—on climate change and sea-level rise, that is. Florida Atlantic University (FAU) will host its second annual Sea Level Rise Summit this week, bringing together national and international experts to discuss the impacts of sea-level rise and storm surge on local and national economies.
Communities across the world continue to experience weather-induced food shortages due to drought, floods, devastating wildfires, and other climate change impacts. This week, the Board of the Green Climate Fund (GCF)is meeting to discuss how the GCF will receive and disburse money through various financial inputs and instruments.
While working on tracking adaptation finance for our Adaptation Finance Accountability Initiative project, we often get the question “What is adaptation finance?” or “What counts as adaptation finance?” To our embarrassment, we still don’t have a clear answer to either question, other than “Well… finance that funds efforts to adapt to the impacts of climate change qualifies as adaptation finance.”
We aren’t the only ones who struggle to define the very issue on which we work. Even some of the definitions that the Organisation for Economic Cooperation and Development (OECD) and multilateral development banks are developing do not provide a complete answer to the question of what types of investment are considered to be adaptation finance.
We decided to do some soul-searching on this subject. While it’s still too complicated to provide a cut-and-dry definition of adaptation finance, we identified three common traits surrounding the issue: Adaptation finance is context-specific, dynamic, and not just about finance.
“The time to act is now… We cannot afford to do nothing.”
This was the message of Mayor Will Sessoms from Virginia Beach, VA, delivered last Friday at a conference on "Adaptive Planning for Flooding and Coastal Change." Like so many cities along the Atlantic coast, Virginia Beach is at the frontlines of climate change, experiencing impacts like sea-level rise and recurrent coastal flooding. But as we learned at the event, the city and its surrounding communities are emerging as leaders in engaging in initiatives to address these issues.
“We are not as well prepared as we need to be to address the full scope of projected realities in the year 2100” Mayor Sessoms stated, “and we can, and must, make continued improvements.” His message was echoed by a group of bipartisan mayors and state delegates, city planners, legal experts, and university scientists. They stressed that while state and federal governments often struggle to move beyond the political debate of whether manmade climate change is happening, residents of the Tidewater area of Virginia are focused on developing a robust response to rising seas and recurrent coastal flooding.
Mayor Sessoms’ sentiments paralleled the earlier statements of Democratic Mayor Paul Fraim from Norfolk, VA that "[t]his is one of the greatest threats of our lifetime,” and “a threat that we can no longer afford to ignore."
If you want to know how to grow crops in the face of climate change, drought, and land degradation, ask Ousséni Kindo, Ousséni Zoromé, or Yacouba Sawadogo—three farmers in Burkina Faso’s Yatenga region.
Policy makers, researchers, and NGO representatives gathered earlier this year at a workshop in Ouagadougou, Burkina Faso to discuss strategies on combating food insecurity and adapting to climate change. Attendees at the event—organized by the group Network for Participatory Approaches to Research and Planning (Réseau MARP Burkina)—heard from several of Burkina Faso’s farmers on how they produce food on degraded lands. The farmers and participants provided interesting insights into climate-smart agriculture methods—including how to scale up these practices throughout the nation.
As I prepare to take part in an event on hurricanes and extreme weather in Miami, Florida later today, it’s clear just how much climate change threatens the state’s local communities. Florida is the most vulnerable U.S. state to sea-level rise, with seas projected to rise along the state’s coast by as much as 2 feet by 2060--threatening valuable infrastructure, homes, and communities. Even Superstorm Sandy--which had the greatest impacts in New York and New Jersey--caused significant damages along Florida’s east coast while centered miles offshore. Rising seas contributed to Sandy’s storm surge and tidal surges, causing flooding throughout Miami-Dade County and sweeping away portions of State Road A1A in Fort Lauderdale.
But as overly concerned as I am of the climate change impacts Florida faces, I’m also encouraged. Florida has something that few other states have: A bipartisan collaboration to address global warming’s disastrous impacts.
Reducing the vulnerability of local communities exposed to climate change by increasing the volume and effectiveness of finance directed towards adaptation.
Delegates at the April UNFCCC intersessional in Bonn, Germany made some encouraging progress. As negotiators gather again this week, it’s important that they build on this progress and take action on two key topics: raising ambition, and establishing core elements of the 2015 international climate action agreement.
Indeed, there’s an even greater sense of urgency since delegates met for the April intersessional. The world crossed a perilous and alarming threshold, with atmospheric carbon dioxide levels exceeding 400 ppm, a level that has not been experienced in at least 800,000 years and possibly not for millions of years. Plus, this may be the last intersessional before COP 19 in Warsaw in November. Negotiators must move forward on raising ambition and establishing the 2015 Agreement if COP 19 is to have a successful outcome.
Raising Ambition Now
The need for countries to make more ambitious emissions-reduction commitments remains self-evident—even more so, now that the world has exceeded 400 ppm of atmospheric carbon dioxide. In Bonn, negotiators are set to focus on the transformation of the energy system.
The Climate Investment Funds (CIFs), one of the world’s largest dedicated funding facilities for climate change mitigation/adaptation projects, have now been in operation for five years. It’s a good time to step back and evaluate what lessons we’re learning from these important sources of climate finance.
WRI recently did just that, inviting a group of representatives from countries accessing CIFs funding to speak at our offices. It became clear from the discussions that while some valuable progress has been made, there is still plenty of room for improvement. In particular, lending institutions involved with the CIFs could deploy climate finance more effectively by fostering a stronger sense of country ownership over mitigation/adaptation projects.
The Good News: Climate Investment Funds Are Contributing to Change on the Ground
We’re starting to see some countries make progress on implementing climate change mitigation and adaptation projects with funds from CIFs programs (see text box). Panelists at the WRI event highlighted a few examples: