ADAPTATION FINANCE BULLETIN | |
UNFCCC Adaptation Committee | |
News from the Green Climate Fund (GCF) | | |
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Pictured above: GCF Financial Flows in USD Billions
Figure extracted from the GCF's Annual Results Report 2021
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GCF holds first Board Meeting of 2022 | |
The GCF Board held its thirty-first meeting - the first meeting of 2022 - from 28 to 31 March. The Board approved major changes to its accreditation framework, aiming to streamline access to finance by developing countries including through a new, one-step process to fund climate projects.
During the meeting, the Board also approved the accreditation of one new entity and the re-accreditation of four entities, and approved two cross-cutting projects (i.e. addressing both adaptation and mitigation) for USD 187.7 million in GCF resources.
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Annual Results Report 2021 Published | |
The GCF has published its 2021 Annual Results Report, which showcases the Fund's milestones and achievements. By the close of 2021, the GCF portfolio stood at a record USD 10 billion for approved projects, with nearly USD 3 billion approved for 32 projects in 2021 alone.
Specific to adaptation, the report highlights the regional breakdown of readiness funding for national adaptation plans (NAPs); the value and proportion of approved projects for adaptation in 2021, which amounted to USD 720 million or 43.4% in grant equivalent terms; various new projects advancing adaptation action in developing countries; and more.
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News from the Global Environment Facility (GEF) | |
Photo by the Ines Alvarez Fdez on Unsplash | More than USD 5 billion pledged to GEF for climate and environmental action | |
Twenty-nine countries have jointly pledged a record USD 5.25 billion for the GEF-8 funding cycle to advance efforts to tackle climate change, biodiversity loss, and pollution. As compared with the previous funding cycle, this amount represents a nearly 30 per cent increase.
The GEF-8 cycle will run from July 2022 to June 2026. Biodiversity protection will account for the largest share of this cycle; other priorities include addressing threats from climate change, land degradation, and chemicals and waste, and alleviating pressures on the ocean and international waters. Much of the funding in this cycle will be delivered through a set of 11 integrated programmes that address multiple threats at once. Additionally, the GEF will continue to prioritize private sector engagement and blended finance solutions.
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Highlights from the Resilient Food Systems Programme in 2021 | |
In 2021, the Resilient Food Systems programme (RFS) - one of three Integrated Approach Pilot programmes financed by the GEF during the GEF-6 cycle - made significant progress towards enhancing the long-term resilience and sustainability of smallholder farming systems in sub-Saharan Africa.
The programme's annual report for 2021 highlights various key facts and figures about activities and achievements as at June 2021. For example, USD 65.6 million of USD 96 million in GEF grant funds were disbursed to RFS projects; 484,547 hectares of previously degraded land was restored; RFS country projects targeted over 1.5 million women beneficiaries; 200,819 farmers were trained in sustainable land management practices; and more.
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Figure extracted from the Resilient Food Systems Programme Highlights 2021 Report | |
News from the Adaptation Fund | |
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Figure extracted from the Adaptation Fund's Annual Performance Report 2021
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38th Meeting of the Adaptation Fund Board approves new projects and advances development of next 5-year strategy | |
Adaptation Fund releases Annual Performance Report 2021 | |
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Meeting in Bonn, Germany from 4 to 8 April 2022, the 38th meeting of the Adaptation Fund Board saw the approval of USD 34.37 million in new projects. This includes USD 14 million for integrated water management in Chad and Sudan, USD 10 million for multisectoral adaptation measures for flood relief in Trinidad and Tobago, USD 10 million for building resilience among pastoral communities in Kyrgyzstan, and more.
In addition, the Board further developed the Fund's next five-year Medium-Term Strategy, which will build on the achievements and strategic framework of the Fund's first such strategy while working to optimize its impact and consolidate its success and comparative advantage. The Board also approved a new evaluation policy aimed at enabling evaluation to contribute to achieving the mission, goal and vision of the Fund and the Paris Agreement, and its global goal on adaptation in particular.
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The Adaptation Fund has published its most recent Annual Performance Report, showcasing the Fund's activities and achievements from 1 July 2019 to 30 June 2021.
The report highlights that, as at 30 June 2021 a total of 121 projects totaling USD 830.6 million had been approved for funding; 76 projects were under implementation totaling USD 523.2 million in grants; and 80 Project Formulation Grants and four Project Formulation Assistance grants had been approved.
Further, the report provides breakdowns of funding by financial years, regions, sector, and results framework outcome areas. It also includes preliminary aggregations of Fund indicators, such as the number of early warning systems, metres of coastline protected, and more.
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USD 2.2 million in grants for local innovators announced by UNDP and the Adaptation Fund Climate Innovation Accelerator | |
In April 2022, the United Nations Development Programme (UNDP) and the Adaptation Fund Climate Innovation Accelerator announced USD 2.2 million in climate action grants for 22 local innovators in 19 countries. Half of these innovators will receive USD 125,000 small grants while the other half will receive USD 60,000 micro-grants.
The grants will support a wide range of adaptation initiatives, such as creating alternative livelihoods for women, youth and persons with disabilities by establishing dry season gardens; establishing an incubator and accelerator to catalyze green entrepreneurship and innovation; advancing aquaculture and hydroponics; and more.
This was the first round of funding through the Adaptation Fund Climate Innovation Accelerator window; the second call for proposals is set to open in June 2022.
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Photo by Mick Haupt on Unsplash | |
Latest from the Least Developed Countries Expert Group (LEG) | |
Photo by Gaddafi Rusli on Unsplash | |
41st Meeting of the LEG considers status of and further work related to adaptation finance for LDCs | |
The 41st meeting of the LEG took place in Nairobi from 21 to 23 March 2022. Among a wide range of topics, the Group discussed the status of funding allocated and disbursed to the LDCs under the Financial Mechanism.
The LEG noted, for example, that seven LDCs had not yet accessed GCF NAP readiness support for formulating NAPs and agreed to liaise with those countries to determine whether they are facing any challenges in accessing readiness support from the GCF.
Related to support under the Least Developed Countries Fund (LDCF), the LEG noted that all of the LDCs that had not yet accessed funding from the LDCF in the seventh replenishment cycle (July 2018 to June 2022) of the GEF as at 31 March 2021 have since submitted proposals for accessing funding. This is a result of additional efforts by the GEF secretariat to raise awareness among the LDCs, including with the involvement of the LEG and the Chair of the LDC Group. The LEG agreed to continue to support the LDCs in accessing funding from the LDCF for implementing adaptation priorities identified in NAPAs and related strategies and plans.
Further details, including upcoming activities in the LEG work programme for 2022-2023 related to supporting the LDCs in accessing adaptation finance, are highlighted in the meeting report.
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News from the Standing Committee on Finance (SCF) | |
Calls for input and evidence to inform the work of the SCF | |
The SCF is currently inviting submissions of input and evidence to inform two important areas of its work.
First is a call for inputs of information and data for the preparation of the report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency of implementation. Second is a call for evidence seeking information and data for the preparation of the fifth Biennial Assessment and Overview of Climate Finance Flows.
Information and data for both calls should be submitted by 31 July 2022 via email to [email protected].
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Photo by Wesley Tingey on Unsplash | |
New Collective Quantified Goal on Climate Finance | |
Picture above: Participants of the first Technical Expert Dialogue under the Ad hoc Work Programme on the New Collective Quantified Goal on Climate Finance | |
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The first Technical Expert Dialogue under the Ad hoc Work Programme on the New Collective Quantified Goal (NCQG) on Climate Finance took place from 24 to 25 March 2022 in South Africa. Experts gathered to discuss a variety of topics related to the new goal, including the NCQG in the context of contributing to accelerating the achievement of Article 2 of the Paris Agreement; lessons learned from the mobilization of climate finance; identified needs and priorities of developing country Parties; and more. Further information on the dialogue, including webcasts of the sessions, is available here.
The dialogue was one of 12 to be convened under the work programme from 2022 to 2024. The next dialogue will take place from 13 to 14 June on the margins of the Subsidiary Body meetings in Bonn, Germany.
Also in the context of work on the NCQG, submissions (from Parties, constituted bodies, operating entities of the Financial Mechanism, climate finance institutions, observers and observer organizations, and other stakeholders, particularly from the private sector) on the elements outlined in paragraph 16 of decision 9/CMA.3 are open until August 2022. Paragraph 16 reads:
Also decides that the consideration of the new collective quantified goal will be in line with decision 14/CMA.1 and take into account the needs and priorities of developing countries and include, inter alia, quantity, quality, scope and access features, as well as sources of funding, of the goal and transparency arrangements to track progress towards achievement of the goal, without prejudice to other elements that will also be considered as the deliberations evolve and taking into consideration the submissions...
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Spotlight on adaptation in the first global stocktake | |
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The first global stocktake - the cyclical mechanism established by the Paris Agreement to periodically take stock of the implementation of the Agreement and collective progress towards achieving its purpose and long-term goals - is now underway. Specific to adaptation, the global stocktake will recognize the adaptation efforts of developing country Parties, enhance the implementation of adaptation action taking into account the adaptation communication, review the adequacy and effectiveness of adaptation and support provided for adaptation, and review the overall progress made in achieving the global goal on adaptation.
To inform this process, various sources of information have been prepared and collected through the Global Stocktake Information Portal. Many of these shed light on adaptation finance needs and flows. For example, the UNFCCC secretariat's synthesis report on the state of adaptation efforts, experiences and priorities considers the adequacy and effectiveness of support for adaptation, including the adaptation support needs of developing country Parties. The secretariat synthesis report focused on means of implementation and support, meanwhile, also considers a range of topics related to adaptation finance, including climate finance flows from developed to developing countries, the thematic and geographical distribution of these flows, and more.
Other sources of information available on the portal - including synthesis reports prepared by constituted bodies and forums under or serving the Paris Agreement or Convention, submissions by Parties and non-Party stakeholders, and other relevant reports and documents - also provide insights into the landscape of adaptation finance.
The first meeting of the technical dialogue of the first global stocktake will take place during the upcoming 56th sessions of the Subsidiary Bodies from 6 to 16 June, and will feature, among other things, roundtables on adaptation and on means of implementation.
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UNFCCC Adaptation Committee | https://unfccc.int/Adaptation-Committee
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