Global Public Investment Network’s Post

🌍📢 STATEMENT: Edward Davey, Head of World Resources Institute’s UK Office, offers insights on the recent assessment of the UK government’s progress towards its international climate finance commitment by the Independent Commission for Aid Impact (ICAI). While strides have been made, the report underscores the imperative for the UK to uphold its £11.6 billion GBP commitment in full, with just two years remaining. Davey emphasizes the need for cross-party consensus and a clear action plan to ensure timely and effective disbursement of remaining funds, highlighting the UK's crucial role in global climate action. 🌱 With the global climate crisis escalating, the UK's commitment to international #ClimateFinance holds immense significance. Davey stresses the importance of equitable distribution and integrity in fund allocation, advocating for the UK to lead by example in supporting nations vulnerable to climate impacts. A timely call for the UK to fulfill its pledge for global #ClimateJustice. Read more: https://bit.ly/3IkF6Hx Read the full assessment: https://lnkd.in/efvA5kp9

Adaptation finance is a critical but underfunded element in dealing with the climate emergency. The private sector can seize this opportunity to bridge the adaptation finance gap, overcoming barriers with innovative financial solutions to support global adaptation efforts. What will it take for private finance to succeed? Read our report: https://bmcknz.ie/4fxqcfR

Adaptation finance is a critical but underfunded element in dealing with the climate emergency. The private sector can seize this opportunity to bridge the adaptation finance gap, overcoming barriers with innovative financial solutions to support global adaptation efforts. What will it take for private finance to succeed? Read our report: https://bmcknz.ie/4fxqcfR

Securing investment to support #ClimateAdaptation is an ongoing challenge but this inaction is becoming increasingly costly. Supportive policies and regulations as well as credible government spending plans will help to accelerate investment in adaptation.   Mott MacDonald’s climate finance specialist, Virginie Fayolle advocates for a more systemic approach to financing adaptation: https://mottm.ac/3tbQTnq #ClimateFinance  

The OECD now claims that the $100 billion per year climate finance target was met in 2022, while Oxfam credibly shows that the "real value" of support provided by rich countries was only between $28 billion and $35 billion. Our article explains the different approaches. We set out the problems with the target itself and with the OECD's flawed methodology for measuring "concessionality"/donor effort. And we explain how this creates damaging incentives for donors to provide loans instead of grants and to provide finance bilaterally instead of through multilateral funds. Finally, we set out 5 recommendations that should be followed at COP 29 later this year: 1.      Any new agreement on targets for climate finance needs clarity on definitions, measurement, accounting methodology and reporting. 2.      Future financial targets must include agreements on burden-sharing by countries, and not be expressed merely as “global aspirations”.  3.      Donor reporting on financial effort in non-grant instruments should follow the robust Oxfam methodology, not the self-serving and inaccurate DAC methodology. 4.      Debt forgiveness should not be counted towards climate finance targets. 5.      The international community should divest the OECD/DAC of its role in setting the rules for measuring ODA and, by extension, the financial effort in climate loans and equity investments. Read More: https://lnkd.in/egJ-f7r7

In this latest paper on stakeholder perceptions of effective climate finance coordination in Kenya, Millicent Omala, Eric M. Kioko, PhD, and Marie Gravesen (Kenyatta University, DIIS - Danish Institute for International Studies) call on policy actors to reconcile political issues of contention for recipient countries to institute coordination mechanisms that gain ownership and widespread legitimacy from climate change stakeholders. More ⤵

Will the debt concerns inhibit national decisions to ratify the new #BBNJ legal agreement with associated financial obligations if no credible path is found for supporting developing countries implementation? Unlocking this challenge for developing countries seems like a no regret measure to instilling confidence and accelerating ratifications! Debt concerns are not just an issue for small island countries - it should be everyone’s urgent concern as we collectively strive to tackle the biodiversity and climate crises through nature based solutions in the Ocean Commons.

Adaptation finance is a critical but underfunded element in dealing with the climate emergency. The private sector can seize this opportunity to bridge the adaptation finance gap, overcoming barriers with innovative financial solutions to support global adaptation efforts. What will it take for private finance to succeed? Read our report: https://bmcknz.ie/4fxqcfR

Adaptation finance is a critical but underfunded element in dealing with the climate emergency. The private sector can seize this opportunity to bridge the adaptation finance gap, overcoming barriers with innovative financial solutions to support global adaptation efforts. What will it take for private finance to succeed? Read our report: https://bmcknz.ie/4fxqcfR

Adaptation finance is a critical but underfunded element in dealing with the climate emergency. The private sector can seize this opportunity to bridge the adaptation finance gap, overcoming barriers with innovative financial solutions to support global adaptation efforts. What will it take for private finance to succeed? Read our report: https://bmcknz.ie/4fxqcfR