From Local to Global: Advancing Equitable Access to Climate Finance and Loss and Damage Funding

06 / 06 / 2024
Man paddling his boat in Uganda. Photo credit: Anthony Atiko

Devastating, widespread, and rapidly escalating impacts of climate change are being experienced across the world, with the Global South and marginalised groups feeling these impacts first and most severely. As reported by Oxfam in 2022, the estimated costs of L&D by 2030 range from $290 billion to $580 billion. The brunt of this cost is being borne by the most vulnerable individuals, communities, and countries across the Global South who have done the least to contribute to the crisis. This encompasses not only economic losses but also profound and far-reaching non-economic L&D, including the loss of life, cultural identity, indigenous and local knowledge, human health, biodiversity, and territory.

The purpose of the workshop was to explore mechanisms for advancing equitable access to climate finance at the local level, with a particular focus on how best to connect global policy processes and funds to the realities on the ground in affected Global South countries and communities. When looking at existing funds such as GCF and Adaptation Fund, disbursement to national entities has been low, with the majority of funds instead being disbursed via UN agencies (Getzel & Robertson, 2023). The L&DF could be different, with a greater proportion of direct access enabling countries and communities to gain greater ownership and drive forward climate solutions. The L&DF has the opportunity to learn from past processes and set a new best practice approach for simplifying and enhancing financial support for national, subnational, and community-based organisations. For example, a community window offering small grants could empower the implementation of innovative local actions to address climate change impacts, as well as decentralised decision-making while maintaining sufficient accountability and safeguarding.

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