Financing locally led adaptation action through country-based mechanisms
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The Local Climate Adaptive Living Facility, hosted by the UN Capital Development Fund, in partnership with the Governments of Bhutan, Cambodia and the Asian Development Bank, will host a session on “Financing locally led adaptation action through country-based mechanisms in the context of the Nationally Determined Contributions (NDCs) and the National Adaptation Plan (NAP) process” during the Gobeshona Global Conference, on January 21st, 2021.
Event Details
- Title: Financing locally led adaptation action through country-based mechanisms in the context of the Nationally Determined Contributions (NDCs) and the National Adaptation Plan (NAP) process
- Location: Gobeshona Global Conference
- Date: January 21, 2021
- Time: 11am-1pm UTC / 6am -8am EST
- Format: virtual (English)
The session aims to bring practitioners, experts and government officials together to discuss and share experiences and lessons learned on best practices on how local actors, particularly local governments and their communities, can be engaged in delivering adaptation results, focusing on three pillars: capacity building for climate change mainstreaming into local public planning and budgeting systems, innovative financial mechanisms and implementation of locally led adaptation action in the context of the NDC and the NAP process.
Local communities and stakeholders, e.g. local governments, have indeed a key role to play in delivering adaptation action and results because 1) they are uniquely positioned to know their vulnerabilities and needs, 2) have a stake in the outcome of any adaptation intervention, and, 3) if appropriately empowered, have strong incentives to ensure that interventions are efficient, effective and impactful.
Recent OECD study estimates, however, that only 19% of total climate finance flowing from the Global North to the South targeted adaptation, and of this meagre amount less than 10% is estimated to reach the local level. There is thus growing recognition of the need to increase climate finance flows to the local level for accelerated locally led climate action.
In this context, it is paramount to devise mechanisms and processes that enhance the effectiveness of adaptation finance, including strengthening transparency and responsiveness of donor funding, increase ownership and participation of local communities, build the capacity of local stakeholders and of local financial structures to better manage finance and deliver adaptation results, while addressing asymmetries, in particular the gender dimension, and that ultimately empower local governments in contributing towards NDC and NAP implementation.
- Please register to our event's session via this link and join this exciting and interactive discussion.
- See attached poster to find out more about our speakers.
- Related Reading: Financing Local Adaptation to Climate Change: Experience with Performance-Based Climate Resilience Grants (endorsed by the LDC Expert Group as supplementary material to the NAP Technical Guidelines).
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