The United Nations Framework Convention on Climate Change (UNFCCC) said as climate change accelerates, the urgency for countries to implement crucial plans that build resilience to the impacts of climate change has increased too.
It said to do this; they need both adequate funding and the national capacity and know-how to access available funding.
A statement from UNFCCC said this was the key conclusion of a virtual dialogue it held on the Climate Change Adaptation Committee recently.
“Funds are needed for adaptation measures ranging from building seawalls against rising sea levels to increasing the resilience of the health systems of communities impacted by ever more frequent and severe storms and heatwaves,” the statement reads.
Co-Chair of the UNFCCC’s Adaptation Committee, Mariam Allam said : “The transition of many countries from the planning to the implementation of adaptation requires more financial resources and enhanced countries’ capacities to access the entire range of available financial sources and instruments through respective long-term, country-owned strategies.”
She said Countries capture their adaptation priorities notably in national climate action pledges (nationally determined contributions, or NDCs) and national adaptation plans (NAPs).
The dialogue’s six panelists concurred on one critical element in developing strategies to achieve better access to finance for adaptation: making the value of resilience more visible within decision-making.
They said it requires capacities to interpret and apply climate data and to facilitate collaboration among different stakeholders.
While noting that the capacity to effectively interpret and apply climate data is essential for drafting proposals for international adaptation funds and for establishing the enabling conditions for other types of resilience-aligned finance to flow, they said two frameworks were referenced in the dialogue which can help guide countries through the steps required to establish an environment that makes it possible for the different sorts of adaptation finance to flow: the OECD climate adaptation investment framework and the Green Climate Fund and NDC partnership’s Climate Investment Planning and Mobilization Framework.
“Both are under development and will soon offer countries the opportunity to analyze their own situation and navigate important guidelines, tools and support opportunities, which they may access to develop their individual finance and investment strategies,” the statement reads.
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