Africa Adaptation Initiative’s Post

🌿 Honored to represent IFAD/ARCAFIM at the third Technical Committee meeting on Uganda’s National Green Taxonomy, hosted by the Climate Finance Unit (CFU) of the Ministry of Finance, Planning, and Economic Development. 🌍 Today’s discussions at the Protoea Skyz Hotel were pivotal, focusing on the draft of the National Green Taxonomy, a critical framework for directing investments into sustainable and climate-resilient projects. The NGT aims to align Uganda’s financial flows with its ambitious climate goals, as outlined in the updated Nationally Determined Contribution (NDC) and Vision 2040. Key takeaways from the session include: 🔹 Strengthening the role of the AFOLU sector, which is expected to deliver 82.7% of Uganda's mitigation efforts. 🔹 Uganda’s commitment to reducing GHG emissions by 24.7% by 2030, with a focus on both unconditional and conditional actions. 🔹 The importance of creating a robust green finance ecosystem through international collaboration, private sector engagement, and clear regulatory frameworks. It was great to collaborate with incredible minds in the climate finance space, and we captured the moment with a group photo 📸. Exciting times ahead as Uganda continues to build a resilient, low-carbon future! I look forward to contributing to the advancement of this framework and supporting sustainable development across sectors. 🌱 #ClimateFinance #GreenTaxonomy #SustainableDevelopment #ClimateAction #GreenEconomy #Uganda #GreenInvestments

Excited to highlight #AfCFTA particularly through the innovative provisions of the #InvestmentProtocol. Proud to discuss the promotion and facilitation of climate-friendly investments at the OECD 9th Investment Treaty Conference #InvestmentTreaties Key Highlights: - The AfCFTA agreement emphasizes the importance of sustainable development and includes provisions and mechanisms for environmental protection and conservation. - consider and recognise the need for investments to be guided by the national objectives and interests of the host state e.g. 24 on the Right to Regulate - policy case for investment instruments to differentiate between climate-harmful and climate-friendly investments more explicitly and to focus promotion and facilitation. - clear need to think critically about the availability financing and mobilizing capital for quality investment and achieving climate change commitments. - facilitate the transfer of climate-friendly technologies from developed to developing countries and capacity-building support to ensure their effective implementation. - Political will as seen by the commitments in the Nairobi Declaration on Climate Change and Call to Action 2023. e.g. continental collaboration and regional and continental grid interconnectivity, and further accelerating the operationalization of the AfCFTA Agreement; and developing and implementing climate related policies, regulations and incentives. - AfCFTA Protocol on Investment has best practice and innovative provisions that can be considered in developing climate investment friendly provisions. 

"Nature-Based Infrastructure is a really worthwhile investment. The NBI Global Resource Centre is working to communicate this to investors." Alec Crawford on a very thought-provoking panel today in the Finance for Biodiversity Pavilion on NbS investment, highlighting the work of the Nature-Based Infrastructure Global Resource Centre and the #SUNCASA project at the International Institute for Sustainable Development. Great contributions from panelists at the Blue Action Fund, World Resources Institute, Coalition of Finance Ministers for Climate Action, and organizers WWF Africa Adaptation Hub. Thanks the pavilions hosts Finance for Biodiversity Foundation, United Nations Environment Programme Finance Initiative (UNEP FI) and UNDP. #NbS #GreenFinance #AdaptationFinance #NatureFinance #Biodiversity

WE MADE IT! The great team from Ministry of Water managed to submit 22 Climate Resilient Proposals to Africa Development Fund - Climate Action Window on Mitigation. We started with 24 draft proposals, but we comfortably managed to submit 22 by 00:40 (+3GMT) just two hours before deadline – after spending 8 consecutive days and draining numerous pots of coffee. The total value of the 22 projects is USD 77.9million. It was indeed an honour to provide technical lead and facilitate such an amazing process.   WAIT A MINUTE: Assuming our facilitator (GIZ) invested USD 50,000 (not sure) to facilitate the process of drafting the 22 proposals (USD 77.9million) – what a great value for investment! Even if only one proposal was funded; say valued at USD 3million, the value for investment is rather HUGE! I urge all other partners to support such an amazing process! It’s a paradigm shift. This is what the Africa Water Investment Programme (Continental Africa Water Investment Programme - AIP) is all about –partnering to leverage more resources for a water climate resilient Africa! IN THE PICTURE The remnant team cheering the submission of the LAST proposal @00:40 (+3GMT)   Global Water Partnership Global Water Partnership Southern Africa Global Water Partnership Tanzania Continental Africa Water Investment Programme - AIP Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH African Ministers' Council on Water (AMCOW) International Water Management Institute (IWMI) 2030 Water Resources Group The World Bank World Resources Institute UNDP IHE Delft Institute for Water Education SEI — Stockholm Environment Institute Japan International Cooperation Agency (JICA) KOICA Agence Française de Développement Development Bank of Southern Africa (DBSA) WRC South Africa USAID Southern African Development Community Secretariat African Development Bank Group KfW

Development funding for biodiversity grew significantly in 2022, but the money came mostly in the form of loans rather than grants, according to new figures from the Organisation for Economic Cooperation and Development (OECD - OCDE). The report shows that efforts to protect and restore nature grew from $11.1 billion in 2021 to $15.4 billion in 2022. The increase came largely from multilateral institutions – mainly development banks – through concessional loans, which are cheaper than borrowing on commercial terms. The issue of whether loan finance should be provided to already debt-strapped developing countries for action on climate and nature is hotly debated, with poorer countries and climate justice activists calling for more money to be disbursed as grants. Read the full story here 👉 https://lnkd.in/ezXvKRMZ

🌿 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐅𝐨𝐫𝐞𝐬𝐭 𝐂𝐚𝐫𝐛𝐨𝐧 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐏𝐞𝐨𝐩𝐥𝐞, 𝐏𝐥𝐚𝐧𝐞𝐭, 𝐚𝐧𝐝 𝐍𝐚𝐭𝐮𝐫𝐞 This Ministerial-level event will bring together representatives from governments, private sector and civil society to reaffirm our shared commitment to growing high integrity forest carbon markets, to showcase progress and identify areas where further action is needed. This event is hosted by the governments of Ghana 🇬🇭, Guyana 🇬🇾 and the UK 🇬🇧 as part of the Carbon Markets and Results workstream of the Forest and Climate Leaders’ Partnership (FCLP), a coalition of governments committed to accelerating delivery of the of goal of halting and reversing forest loss by 2030.🌳🌴 The event will focus on: ➡️ Publicly reaffirming the commitment of governments and other key players to scaling finance for high-integrity forest results ➡️ Showcasing examples of progress on catalyzing demand through results-based payments, voluntary, and compliance markets and through generating high-quality supply of forest carbon results and credits 🍁 Keynotes: 🔹️Minister Kerry McCarthy, UK 🔹️Richard Duke, Deputy Special Envoy for Climate US Department of State 🔹️Professor Biman Prasad, Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics, Fiji 🎙Moderation: ROSELYN FOSUAH ADJEI - Director, Climate Change at Ghana's Forestry Commission and National REDD 🗓️ Thursday, 14 November 2024 ⏰ 13:00 – 14:30 (Azerbaijan Time) 📍 COP29 DRC Pavilion H14, Blue Zone, Baku, Azerbaijan 💬 Translation: English to Spanish and French. ✏ Register: https://lnkd.in/eryq6yhN #COP29 #CarbonFinance #CarbonMarkets #ForestClimateAction

How can we mobilise finance and investment to reach climate goals? 🎯 Two new rapid evidence reviews explore financing solutions to build a more sustainable world, each addressing unique challenges and opportunities in different regions. 🌍In ‘Senegal's Carbon Finance and Article 6: Current Standing, Opportunities, and Challenges in Mobilising Carbon Markets’ André van der Hoven and Nick Rahier explore the progress towards mobilising carbon markets in Senegal. The report finds that Senegal is making strides in leveraging carbon markets, and has secured agreements with Switzerland and Norway to monetise emissions reductions. These efforts are crucial in providing financial support to climate mitigation and adaptation efforts. Despite this progress, Senegal faces challenges in scaling up its carbon market activities, due to high costs associated with Monitoring, Reporting and Verification (MRV) systems. 🌏In ‘Leveraging Private Investment in the Pacific’, Rachel V Cooper looks at the investment opportunities and needs in Pacific Small Island Developing States (SIDS). The report finds that Pacific SIDS are some of the world’s most vulnerable to climate change, but lack sufficient funding to support needs, especially in funds for climate adaptation. Although Pacific SIDS have ambitious renewable energy targets, they require significant private sector investment to mobilise towards these targets. To date, the investment has been limited. Mobilising investment into blue economy, and exploring blended finance initiatives, green bonds and regional financing facilities could provide pathways to support climate adaptation in the region. Curious about how finance can drive sustainable development? Click here to read both reports in full 👇 https://linktr.ee/k4dd #COP29 #ClimateFinance #CleanEnergy #RenewableEnergy #BlueEconomy #ClimateAdaptation #BlendedFinance #ImpactInvesting #SIDS Sustainology High-Level Climate Champions United Nations Global Compact Sagar Kalra Pacific Islands Development Program Sustainable Finance in the Indo-Pacific Development Network (SUFIP DN) Neha Khanna Joliba Institute Adjaratou Toutane W. Adja Fatou Ndiaye DIENG

What Climate-Vulnerable Developing Countries Need Right Now

Climate action in #Armenia 🇦🇲 can bring about a 'double dividend'—a boost in productivity growth and enhanced sustainability. By scaling up solar, energy storage, critical infrastructure, promoting climate-smart agriculture, and investing in water conservation, Armenia can improve energy and food security and eliminate future water deficits in agriculture. Additionally, embracing green 🍀 growth strategies can help the private sector lead the way toward a more innovative and sustainable economy. IFC - International Finance Corporation can help accelerate this shift. 👉Read more in the World Bank Group Country Climate and Development Report: http://wrld.bg/Bc9Q50U471m IFC Europe #IFCGreeningEurope, #ArmeniaCCDR Rolande Pryce Ivana Fernandes Duarte

The Development Guarantee Group’s (DGG) Chief Executive Officer, Lasitha Perera, will be participating in a panel on Harnessing the Power of Ocean-Climate Finance for Sustainable and Equitable Development as organised by USAID during COP29 Azerbaijan on Ocean Day (21st November) where he will be speaking about the establishment of Nautilus, the Blue Guarantee Company, through partnerships with the Ocean Risk and Resilience Action Alliance (ORRAA), USAID and UK Department for Environment, Food and Rural Affairs.   #SDG14 (Life below water) is among the least funded of the United Nations Sustainable Development Goals. The amount of climate finance received for the ocean is less than 1 percent of the total with the annual funding gap for ocean conservation estimated at USD 150 billion.   Nautilus is being set up to de-risk and mobilise regenerative and sustainable blue economy sector investments through the provision of guarantees. For more information, please contact https://lnkd.in/e3Fb-RZD   #climatefinance #climateaction