ADAPTATION FINANCE BULLETIN |
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UNFCCC Adaptation Committee |
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The UNFCCC Adaptation Finance Bulletin provides the latest news and updates to Parties and other interested stakeholders on adaptation finance-related information from funds, UNFCCC bodies and negotiations, as well as an overview of relevant upcoming events. |
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News from the Green Climate Fund (GCF) |
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Graphic by the Green Climate Fund |
28th Meeting of the GCF Board approves 10 new adaptation-related projects and programmes
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The GCF Board held its 28 th meeting from 16-19 March, during which it approved 10 new adaptation-related projects and programmes in various developing countries. Of these 10 approvals, six were focused primarily on adaptation, totaling over USD 137.5 million in GCF financing, while the remaining four were cross-cutting in focus, totaling over USD 303.6 million in GCF financing. These projects will fund activities such as river restoration for adaptation in Mexico, enhancing a multi-hazard early warning system to increase community resilience in Uzbekistan, increasing the resilience of farming households to climate change-induced food insecurity in the Federated States of Micronesia, and more. |
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GCF commits to supporting climate resilience at Climate Adaptation Summit |
During the Climate Adaptation Summit held in January 2021, GCF Executive Director Yannick Glemarec said the Fund is heeding calls to support developing countries in adapting to climate change while overcoming the fiscal constraints imposed by the COVID-19 pandemic. He described the measures the GCF is taking to advance adaptation, including committing half of its portfolio to adaptation action, and directing more than two thirds of its adaptation funding to the LDCs, SIDS, and African States. |
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GCF releases its 2020 Annual Results Report |
The GCF has published its Annual Results Report for 2020, which was a year of record programming for the fund that saw 37 approved projects with a total value of USD 4.9 billion, of which USD 2.1 billion was in GCF funding. In grant equivalent terms, 37% of GCF funding went to adaptation activities, as compared with 63% to mitigation. The report also highlights how the new GCF Strategic Plan for the 2020-2023 programming period will, among other things, ensure balanced, scaled up funding between adaptation and mitigation with a 50% adaptation funding floor for the most vulnerable countries, and, for every billion dollars invested in adaptation, reach over 155 million beneficiaries.
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GCF thematic brief on adaptation |
In March, the GCF published a thematic brief on adaptation summarizing how it is supporting adaptation and working to promote a paradigm shift towards low-emission, climate-resilient development. The brief highlights efforts undertaken by the GCF to attract private investment in adaptation, support adaptation planning, and ensure adaptation impact. It also features four case studies of GCF projects that advance adaptation and resilience building. |
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News from the Global Environment Facility (GEF) |
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Photo by Wilsan U on Unsplash |
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GEF holds first meeting for its 8th replenishment
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Member governments and partners of the GEF met on 22 April to formally begin discussions about its eighth replenishment cycle. The GEF-8 investment period will extend from July 2022 until June 2026. Participants at the meeting discussed how the GEF can scale up action on threats such as climate change, biodiversity loss, pressure on forests, oceans, landscapes, and more. The next formal meeting on this issue is planned for the end of September, with a final decision regarding the size and ambition of the GEF-8 funding envelope expected in 2022. |
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Over 400 scientists and experts brainstorm GEF investment priorities |
Laying the groundwork for the GEF-8 and GEF-9 investment cycles, GEF Chairperson and CEO Carlos Manuel Rodriguez convened over 400 leading scientists and environmental experts from 8-11 February to discuss top priorities and opportunities to seize leading up to 2030. Participants shared ideas on proposed priority themes for the GEF, including links between environmental and human health, opportunities to engage with the private sector, indigenous peoples and civil society, and more. |
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Financing adaptation to climate change at the GEF |
The GEF recently published a brief highlighting its efforts to finance climate change adaptation through its Least Developed Countries Fund (LDCF) and its Special Climate Change Fund (SCCF). The brief lists key facts and figures illustrating how both funds are supporting adaptation action. For example, it states that the LDCF has financed 305 projects with approximately USD 1.6 billion in grants, and the SCCF has supported 87 projects with USD 355 million in grants. It also includes case studies of adaptation projects, information on how the GEF is enhancing complementarity with other sources of finance and bolstering private sector engagement, and more. |
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News from the Adaptation Fund |
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Photo by the Adaptation Fund |
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36th Meeting of Adaptation Fund Board doubles amount of funding countries can access
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Meeting from 6-8 April, the Adaptation Fund Board made a groundbreaking decision to raise the Fund’s cap on single country project funding from USD 10 million to USD 20 million. Another key decision emerging from the 36th meeting was to allow countries to each nominate and accredit two National Implementing Entities rather than one under the Direct Access modality, which enhances country ownership in adaptation. Moreover, the Board approved USD 18.5 million in new adaptation projects and programmes, including concrete projects in Indonesia, United Republic of Tanzania, the Syrian Arab Republic, and Zimbabwe.
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Photo by the Adaptation Fund |
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9 August deadline: Call for project proposals up to USD 5 million to support innovation and enhanced direct access |
On 22 April, the Adaptation Fund invited proposals for projects and programmes up to USD 5 million each to support innovation and enhanced direct access, funded through new and additional windows available beyond countries’ regular project funding limits. Innovation Projects and Programmes are geared towards helping countries introduce innovative adaptation practices, tools, and technologies or scale up existing successful innovations, while enhanced direct access Projects and Programmes will support concrete adaptation activities that meet the urgent needs of vulnerable communities through locally-led action.
The deadline for the first round of proposals is 9 August 2021 at 18:00 EST; proposals submitted by this deadline will be considered by the Adaptation Fund Board at its 37th meeting.
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Listen now: Adaptation Fund Podcast Series |
Did you know the Adaptation Fund has a podcast series titled Building Climate Resilience? Episode 3, released in March, explores the Fund’s Results-Based Management Framework, the value of adaptation metrics in enhancing adaptation outcomes and progress to date, how projects have adapted in the face of the pandemic, and more.
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Launch of a New Global Fund for Adaptation |
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Global EbA Fund to help scale up ecosystem-based adaptation |
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The Global EbA Fund is a brand-new funding opportunity, led by the International Union for the Conservation of Nature and UNEP, that will support scaling up ecosystem-based adaptation (EbA) around the world. It is a quickly deployable mechanism for supporting innovative approaches to EbA, and aims to encourage initiatives that can help overcome barriers for scaling up EbA. Grants will be issued in the range of USD 50,000 to USD 250,000. Total funds disbursed will amount to around USD 14 million over five years.
The cut-off dates for consideration this year are 30 April 2021 and 30 August 2021 at 23:59 UTC+2.
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Latest from the Adaptation Committee (AC) |
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Photo by Joel Vodell on Unsplash |
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AC19 advances key areas of work related to adaptation finance and support |
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The AC held its 19th meeting from 16-19 March 2021 where it decided on a path forward in updating its work on navigating the landscape of support for national adaptation plans. Specifically, the AC agreed to develop an online information source, to be included in NAP Central, that will help Parties and other stakeholders better understand the various types and providers of support available for the NAP process. During the meeting, the AC also decided that the next synthesis report recognizing the adaptation efforts of developing country Parties will focus on assessing and meeting adaptation costs, and advanced its work in relation to capacity gaps in accessing adaptation funding, and in other key areas.
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Updates from the Least Developed Countries Expert Group (LEG) |
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LEG Technical Brief on gaps and needs related to the process to formulate and implement NAPs |
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The LEG published a Technical Brief presenting a compilation of gaps and needs of the least developed countries related to the process to formulate and implement NAPs and needs related to adaptation arising from the Paris Agreement, as contained in past reports of the LEG and the AC. It highlights a set of needs related to accessing financial and other support, such as: adequate and effective access to financial support, including from the GCF, as well as other forms of support for the formulation and implementation of NAPs; capacity to write proposals for accessing funding under the different windows of the GCF; and more. |
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Spotlight on the Private Sector |
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Photo by Chuttersnap on Unsplash |
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Resources related to private sector engagement in adaptation |
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The private sector can play an important role in advancing adaptation, including in the area of finance. Indeed, national and subnational governments and other stakeholders are increasingly looking to the private sector to help close the adaptation finance gap and accelerate the implementation of adaptation measures.
In collaboration with various partners, the AC has been exploring this topic and creating a set of valuable resources for those looking to learn more. In partnership with the NAP Global Network, the AC in 2020 published a Toolkit for Engaging the Private Sector in National Adaptation Plans as a supplement to the LEG Technical Guidelines for the NAP process. Designed to support countries to develop strategies to systematically engage the private sector in the NAP process, the Toolkit highlights the potential of the private sector to finance adaptation action and lists a wealth of related resources. In 2019, the AC chose to focus the technical examination process on adaptation on the topic of adaptation finance, including the private sector. The resulting technical paper contains a chapter highlighting approaches to incentivize private sector investment in adaptation, including related benefits, barriers, case studies, and more.
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UNFCCC ADAPTATION COMMITTEE | https://unfccc.int/Adaptation-Committee
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