The United Nations Development Programme (UNDP) and the Green Climate Fund (GCF) have signed an Accreditation Master Agreement, strengthening their partnership to deliver low-emission and climate-resilient development.
Preety M. Bhandari, Advisor and Head Climate Change Coordination and Disaster Risk at ADB, was interviewed during the 49th Annual Asian Development Bank Conference taking place in Frankfurt, Germany, and expresses her confidence on reaching the "well-below 2 degrees" climate goal agreed on in Paris this year.
In Kenya, four arid and semi arid counties (Isiolo, Garissa, Kitui, and Wajir) are at an advanced stage of approving their County Climate Change Fund (CCCF) legislation. These new measures are providing local communities with access to climate finance and greater say in how it is spent.
Asian Development Bank (ADB) President Takehiko Nakao today announced that ADB will double its annual climate financing to $6 billion by 2020, up from the current $3 billion. ADB’s spending on tackling climate change will rise to around 30% of its overall financing by the end of this decade.
Many people are putting their faith in private finance – particularly international private finance streams such as foreign direct investment and loans – to finance climate adaptation in LDCs and SIDS, but this faith may be misplaced.