Climate- and Sustainable Finance

In the landmark Paris Climate Agreement, the international community committed to limit global warming to well below 2°C, if not 1.5°C above preindustrial levels. World leaders also committed to foster adaptation and to make all financial flows consistent with climate resilient, low greenhouse gas development. The G20 as group of the leading industrial nations and emerging economies, being responsible for 80% of global greenhouse gas emissions, provides an important platform for joint action towards implementing the Paris Agreement.

The climate vulnerable forum (CVF), now uniting 49 of the world’s countries most vulnerable to climate change, has again taken centre-stage in the fight against global warming and for an equitable international climate regime. At the recent IMF and World Bank spring meeting in Washington, the finance ministers of the group, the Vulnerable 20 (V20), met with representatives of its “big brother”, the G20, to discuss issues related to climate finance, effective mitigation policies, support for adaptation and resilience and above all: enhanced cooperation.

The landmark Paris Agreement and the Agenda 2030 provide a new framework for transitioning to a GHG-neutral and climate-resilient future, and towards truly sustainable development. The G20 as a forum of the leading industrial nations and emerging economies provides a platform for joint action towards achieving these global goals. Shifting global investment towards green finance, sustainable infrastructure and the global transition to renewable energy is one of the most urgent tasks ahead, and can only be reached by international cooperation.

This is the Climate Finance Advisory Service (CFAS) Daily Briefing. Produced at key meetings and negotiations by the CFAS expert team, the Daily Briefings try to provide a concise, informative update on key discussions that have taken place at each day of the meeting and give an overview of substantive points of action or progress.

In this blog Lisa Junghans, Policy Advisor for Climate Change, Adaptation & Urban Transformation, discusses the opportunities for cities under the GCF, and how achieving a paradigm shift needs bundled power from all sides.

Nationally Determined Contributions (NDCs) are a centrepiece of the new global climate regime which was agreed at COP21 in Paris and form the foundation for the pathway towards a low-carbon and climate resilient development. This paper analyses specifically the financial aspects included in the INDCs and aims to contribute towards a definition of comprehensive financing strategies for implementing NDCs. It provides an analytical overview of the financial aspects that have been included in the INDCs submitted so far and provides a discussion of options for financing NDC implementation.

With its mandate to promote a paradigm shift towards low-emissions and climate-resilient development pathways the Green Climate Fund (GCF) has reached full operationalisation in 2015 and is resourced with over US$ 6bn (with more than 10bn pledged). According to its initial results management framework the GCF aims to achieve a "reduction of emissions from buildings and cities" while at the same time "increasing the resilience of infrastructure and the built environment to climate change threats" (GCF, 2014). However, clear operationalisation pathways for the GCF to reach the subnational level are still lacking to date. This publication offers some suggestions on how to shape the GCF so that its finance flows better suit the needs of cities.

After the adoption of the Paris Agreement all eyes move towards implementing climate action. The Adaptation Fund provides an important function to assist developing countries in measures against climate impacts. Following a civil society perspective this briefing outlines selected talking points on agenda issues of the 27th meeting of the Adaptation Fund Board scheduled for March 2016 in Bonn, Germany.

After the adoption of the Paris Agreement all eyes move towards implementing climate action. The Adaptation Fund provides an important function to assist developing countries in measures against climate impacts. Following a civil society perspective this briefing outlines selected talking points on agenda issues of the 27th meeting of the Adaptation Fund Board scheduled for March 2016 in Bonn, Germany.

For many developing countries ensuring food security remains a key development challenge, often aggravated by climate change impacts.