ADAPTATION FINANCE BULLETIN |
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UNFCCC Adaptation Committee |
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News from the Green Climate Fund (GCF) |
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GCF B.30 Board Meeting Approves Eight New Adaptation Projects |
An additional three cross-cutting projects were approved, totaling an additional USD 471 million of GCF financing. Overall, the Board meeting allocated USD 1.2 billion of GCF resources, which is a record for a single meeting.
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GCF Pioneering Innovative Approach to Developing Climate-Resilient Infrastructure |
Together with the Government of Jamaica, the GCF has launched a pilot project testing the capacity of nature-based solutions to complement hard infrastructure. Solutions are being tested in terms of their technical feasibility and cost, with the ultimate aim of scaling them up to other interested countries.
The UK Government and the GCF will convene a meeting of partners of the Coalition for Climate Resilient Investment at COP26 to promote the integration of physical climate risks in investment decision-making using these methodologies.
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Photo by Kevin Yudhistira Alloni on Unsplash |
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News from the Global Environment Facility (GEF) |
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Photo by Ivan Bandura on Unsplash |
GEF Member Governments Meet to Discuss GEF Replenishment |
From 29 September to 1 October, GEF member governments convened to review plans for the GEF-8 funding cycle. The proposed work program for GEF-8 includes efforts to tackle climate change, land degradation, biodiversity loss, and other challenges.
The next formal meet for further discussions about the GEF's replenishment is planned for early February 2022, and a pledging meeting is planned for April 2022.
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Photo by Chuttersnap on Unsplash |
New Global Initiative to Promote Efficient, Resilient, Inclusive Cities |
The GEF, UN Environment Programme, and other partners launched UrbanShift, a new global initiative aiming to transform cities into green, liveable spaces that address issues such as climate change and biodiversity loss.
The initiative will support 23 cities in Argentine, Brazil, China, Costa Rica, India, Indonesia, Morocco, Rwanda, and Sierra Leone. It will engage a wide range of stakeholders, including mayors, city networks, multilateral development banks, the private sector, and UN agencies.
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News from the Adaptation Fund |
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37th Meeting of Adaptation Fund Board Clears USD 42 Million for New Projects |
The Adaptation Fund Board approved USD 16.5 million in new projects and programmes in October at its 37th meeting. This includes projects to scale up resilient rice production in West Africa, to enhance the adaptive capacity of coastal communities in Indonesia, and to advance innovative pest and disease management in Bhutan.
Further, the Board technically cleared an additional USD 26 million in new projects, which are temporarily waitlisted subject to availability of funds, in compliance with equal access policies between Direct Access and multilateral institution projects.
The Board further decided to begin developing a Medium-Term Strategy for 2023-2027, to enhance its active interaction with civil society, and to further explore complementarity and coherence with the GCF.
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Latest from the Adaptation Committee (AC) |
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AC Makes Progress on Online Resource on the Support for NAPs |
At its 20th meeting, the AC advanced its work on Navigating the landscape of support for the process to formulate and implement NAPs, reviewing a pilot demonstration of the interactive online resource being developed (pictured above). It provided guidance on the implementation of the resource, and agreed to also produce printable versions to maximize the value of the resource for Parties and other stakeholders.
In addition, the AC adopted its draft flexible workplan for the years 2022-2024, providing a glimpse at the work the body will undertake in the coming years, including related to means of implementation.
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News from the Standing Committee on Finance (SCF) |
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Key Deliverables Concluded at 26th Meeting of the SCF |
The 26th SCF meeting, held from 12 to 14 October, produced various key outcomes, including on the Fourth Biennial Assessment and Overview of Climate Finance Flows, the first report on the determination of the needs of developing country Parties related to implementing the Convention and the Paris Agreement, and draft guidance to the operating entities of the Financial Mechanism.
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Photo by Mohmed Nazeeh on Unsplash |
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Spotlight on Reports of the GCF and GEF to COP26 |
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The ninth report of the GCF to the UNFCCC Conference of the Parties (COP) highlights, among other things, that as at 16 November 2020, 36 per cent of GCF funding went to adaptation in nominal terms (50 per cent in grant equivalent terms) and that 12 of 19 approved simplified approval process projects focused on adaptation. It further sheds light on the updated Strategic Plan which will guide GCF programming from 2020 to 2023, which aims at delivering greater impact for developing countries aligned with their priorities in their NAPs, NDCs, adaptation communications, and other climate strategies.
The latest report of the GEF to the COP states that pledges and contributions to its Special Climate Change Fund (SCCF) continue to fall short of programming needs, thereby limiting its ability to address the adaptation needs of highly vulnerable non-LDC developing countries. As at 30 June 2021, the SCCF supported 88 projects with USD 352.4 million in GEF funding. Also as at 30 June 2021, USD 1.6 billion has been approved for 425 projects, programs and enabling activities under the Least Developed Countries Fund (LDCF).
The reports will be considered by the COP at its 26th session in Glasgow.
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UNFCCC Adaptation Committee | https://unfccc.int/Adaptation-Committee
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