WFP | Bridging the Gap: Ensuring Equitable Access to Climate Finance
Fragile settings face a double vulnerability—high climate risk and limited institutional capacity due to conflict, displacement, and weak governance. Yet between 2014 and 2021, they received just $2 per capita in climate finance, compared to $162 in more stable countries.
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Speakers
00:00:09
So'Onguku
00:00:15
Yue Cao
00:00:45
So'Onguku
00:01:12
Barbosa
00:01:55
Yue Cao
00:02:03
Barbosa
00:02:19
Bartel
00:02:47
Speck
00:04:09
Jones
00:04:38
Mutua
00:05:05
Barbosa
00:05:13
Nadazdin
Transcriptions
So'Onguku
On behalf of the World Food Programme, it is my pleasure to welcome you to the Climate Finance event.
Yue Cao
We currently have a huge problem in the international climate architecture, especially when it comes to climate finance, because the countries that require the most support, so the most climate vulnerable, they're not receiving that. And there's a group of countries which are, in addition to being highly climate vulnerable, they're also affected by conflict and fragility. And when we look at the data, these countries are those that are receiving the least amount of international climate finance.
So'Onguku
We don't have the direct access entity. Coordination is another challenge in the country. We would like to see or improve on that by effectively engaging with our existing stakeholders and the new ones that are coming in into the country. So an opportunity there for us to mobilise and have access to climate financing in the country.
Barbosa
Simplification is quite problematic. So that's why we always request that Conference of Parties to provide further guidance to the financial operating entities under the financial mechanism, like gcf, Like GF and also Adaptation Fund and even Loss and Damage Fund for responding to loss and damage to simplify the procedural issues to be easy access to the fund.
Yue Cao
What they can do better, and they're actually doing that, is to raise their collective voice more, to advocate more for themselves.
Barbosa
Bilateral cooperation is also quite useful for Timor Leste to get additional financial resources for mainly adaptation and also for addressing loss and damage. And in fact, mitigation is also quite useful to get support bilaterally.
Bartel
Development through peace will stabilise most of our country because we are not a poor country, but only the conflict. The fragility is due to the conflict, the political instability and stuff. But when we now invest more in development projects, I think it will stabilise the country.
Speck
The Green Climate Fund is working really proactively to get climate finance into the most vulnerable settings, particularly those affected by fragility or conflict. We've amassed a $2.7 billion portfolio in countries that are affected by fragility and conflict. And we've learned four things along the way. The first is how do we make sure that countries with very little capacity can access the readiness, the preparedness funding that GCF makes available so they can plan out their pipeline? The second thing is how do we build the capacity of countries themselves? Where are the local and national entities that we can capacitate and build so that they can receive finance directly from gcf? The third area is how do we move from thinking about project by project or sector by sector to saying what will have most Transformational value at a country level. How do we combine sectors, those building blocks of resilience, food, livelihoods, energy, water, to transform a whole situation at country level? And the fourth thing, how do we wrap that up in a country platform? So how do we make sure that countries know what they need to invest in According to their NDCs and NACs and National Development plans?And how does GCF help countries pull that information together? Not just so that we have an investment pipeline, but that any climate financier can come in and say there's a clearly prioritised list, here's what we're doing for transportation transformational value and we want in on that investment.
Jones
MDBs work through national systems. So all our financing goes through national governments themselves. And that means that we're working within those systems. We're helping build the capacity of especially fragile, some of the conflict affected countries. And it means that that money channelled through national government helps to build their capacity, their systems to deliver basic services on climate and other development priorities. So that's a big advantage of the MDB and the World bank system.
Mutua
The Adaptation Fund has created what we call the locally led adaptation. This locally led adaptation allow countries to mobilise local institutions to design project grounds up and to be able to assess the fund. So it's a direct access process.
Barbosa
Coordination among financial entities at global and also international level or regional level will be crucially important.
Nadazdin
The role of WFP is exactly to bring these parties together to make sure that even in the fragile context, nations populations are not bypassed just because they live in such a context, creating opportunities even in these fragile contexts where WFP has the advantage, the edge of being physically present more than other partners.
