Information for 17441IIED
Going local: fast tracking climate finance to the most vulnerable
Backgrounder, 2 pages
To respond to the impacts of climate change, developing countries need climate finance in the right quantities, delivered at the right speed. Finance is being channelled to local communities to some extent, but it’s neither enough nor at the pace needed by the poorest, most vulnerable nations. At the same time, most climate finance is being invested in large-scale projects that take considerable time to design, finance and deliver; this is slowing climate action further.
Drawing on our experience of more than 25 years of work on local finance, IIED is building international awareness of the benefits of decentralising finance, and strengthening local capacities to access and manage those resources.
IIED is exploring solutions to remove the barriers that stop climate finance reaching the people most vulnerable to climate change. The focus is on the value, blocks and solutions to community funds supporting climate action to clarify community rights to resources. The project will strengthen collaboration with these funds and between donors, financial intermediaries, fund aggregators and high- and low-tech innovators.
More at www.iied.org:
Breaking down barriers to tenure-positive climate finance