In order to understand where the climate finance agenda is likely to go, it is first necessary to grasp where it stands today. To that end, Overseas Development Institute, WRI, and IGES – in partnership with the Open Climate Network – have conducted the first in-depth examination of Fast Start Finance (FSF), the period from 2010-2012 in which developed nations pledged to deliver US$ 30 billion in climate finance. As of September 2013, countries reported providing $35 billion in public FSF from 2010 through 2012, exceeding their pledge. Just five countries – Germany, Japan, Norway, the United Kingdom and the United States— provided US$ 27 billion of this finance.
Lessons from the Fast-Start Finance Period
Developed countries report that they mobilised $35 billion in international climate finance for developing countries through the “fast-start finance” period from 2010 through 2012. This study examines the reported contribution in detail, revealing lessons for mobilising and targeting climate...
Accountability, Transparency, and Accessibility at the Local Level
Adaptation is local but reaching the local level is not always easy. This paper explores the challenges of reaching the most vulnerable people with adaptation finance. It identifies opportunities for improvement and proposes a framework to assess delivery of adaptation finance focusing on...
Parties to the UNFCCC established the Adaptation Fund in 2008[^1] to help developing countries adapt to the impacts of climate change. The Fund has gradually evolved since then, and it’s about to embark on its newest development: a safeguard policy to ensure that its investments do not have unintended negative consequences for people or the environment.
The move represents potential progress in the effort to promote climate justice and adaptation. The Adaptation Fund holds a small but important share of global climate finance, distributing more than US$ 180 million to adaptation activities spanning 28 countries. An Environmental and Social Policy—which the Board recently released a draft of—can help ensure that that these funds do not support projects that generate unintended environmental or social impacts.
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.
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.
Expectations are running high as the Board of the Green Climate Fund prepares for its fifth meeting in Paris this week. The GCF must make progress towards five key issues at next week’s meeting in Paris.
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.
Focus on OPIC and Ex-Im Bank's Use of Financial Instruments...
WRI’s “Climate Finance” series tackles a broad range of issues relevant to public contributors, intermediaries, and recipients of climate finance—that is, financial flows to developing countries to mitigate greenhouse gas emissions and adapt to climate change impacts. A subset of this series,...
Five-country comparison on solar photovoltaic and on-shore wind energy policies and progress.