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CLIMATE CHANGE FINANCING
• The term climate finance has evolved in the last few
years of climate negotiations to encompass many
different things. It includes specific obligations by
countries, parties to the United Nations Framework
Convention on Climate Change. Increasingly climate
finance also includes the use of development finance,
when that is used to achieve climate objectives.
Climate finance is based on the premise that public
funds will be needed for both adaptation and
mitigation and that those funds will be needed to
leverage private sector finance into mitigation and
adaptation.
• So for Sierra Leone, the Government needs to
include a line item in its budget for climate
finance with funds raised domestically to support
it or channeled through a multilateral
development bank, through a bilateral
development agency, or through the Green
Climate Fund or a new mechanism that may be
created. And that may be used in conjunction
with development assistance, ODA, that is
already given to the country. And the country will
use those two things together to help, for
example, farmers change their agricultural
practices, thus, making their agriculture more
resilient to the impacts of climate change, thus,
an adaptation activity.
SIERRA LEONE CLIMATIC AND GEOGRAPHIC
SPECIFICITIES
Its 465 km low-lying plain sandy coastline open to the
Atlantic Ocean representing 7.3% of its territory, into which
major rivers empty
The existence of vast water resources but geographically
variable and scarcer during dry season with nine watersheds
and twenty major rivers including Pampana Rokel, Sewa and
Moa, Little Scarcies, Great Scarcies and Mano which have
their sources in the neighboring countries of Guinea and
Liberia
An essentially tropical climate characterized by high
precipitation and humidity, varying in space and time, with
heavy rainfall in the wet season and pronounced dry season
CLIMATE CHANGE PROJECT GOALS
• TO ENHANCE SIERRA LEONE’S CAPABILITY TO PREVENT, MITIGATE,
PREPARE FOR & RESPOND APPROPRIATELY AND TIMELY BY:
(I) Preventing Potential Risks Becoming Real Risks
(11) Existing Risks Becoming Disasters
(111) Localized Disasters Becoming National Scale
Disasters
(1V) Respond To National Scale of Climate Change
Disasters
STRATEGY
• Empower Sierra Leone to be capable of responding appropriately
and timely to:
A. Localized climate change disasters in order to avoid them
becoming national scale disasters
B. Respond to national scale disasters considering the
importance of certain natural and man-made hazards and
vulnerabilities
C. Empower Sierra Leone to be capable of preventing:
(i) Existing risks becoming disasters
(ii)Potential risks becoming real risks.
•
THE NEED FOR CLIMATE CHANGE
FINANCING
PONDER ON THIS: Can the Sustainable Development Goals
along with the international strategies and
instruments aiming at poverty reduction
and environmental protection, be
successful without taking into account the
risk of CLIMATE CHANGE hazards and
their impacts?
CAN THE PLANET AFFORD
THE INCREASING COSTS
AND LOSSES DUE TO
CLIMATE CHANGE?
THE SHORT
ANSWER IS
NO!

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Final project on Climate Change Finance

  • 1. CLIMATE CHANGE FINANCING • The term climate finance has evolved in the last few years of climate negotiations to encompass many different things. It includes specific obligations by countries, parties to the United Nations Framework Convention on Climate Change. Increasingly climate finance also includes the use of development finance, when that is used to achieve climate objectives. Climate finance is based on the premise that public funds will be needed for both adaptation and mitigation and that those funds will be needed to leverage private sector finance into mitigation and adaptation.
  • 2. • So for Sierra Leone, the Government needs to include a line item in its budget for climate finance with funds raised domestically to support it or channeled through a multilateral development bank, through a bilateral development agency, or through the Green Climate Fund or a new mechanism that may be created. And that may be used in conjunction with development assistance, ODA, that is already given to the country. And the country will use those two things together to help, for example, farmers change their agricultural practices, thus, making their agriculture more resilient to the impacts of climate change, thus, an adaptation activity.
  • 3.
  • 4. SIERRA LEONE CLIMATIC AND GEOGRAPHIC SPECIFICITIES Its 465 km low-lying plain sandy coastline open to the Atlantic Ocean representing 7.3% of its territory, into which major rivers empty The existence of vast water resources but geographically variable and scarcer during dry season with nine watersheds and twenty major rivers including Pampana Rokel, Sewa and Moa, Little Scarcies, Great Scarcies and Mano which have their sources in the neighboring countries of Guinea and Liberia An essentially tropical climate characterized by high precipitation and humidity, varying in space and time, with heavy rainfall in the wet season and pronounced dry season
  • 5.
  • 6. CLIMATE CHANGE PROJECT GOALS • TO ENHANCE SIERRA LEONE’S CAPABILITY TO PREVENT, MITIGATE, PREPARE FOR & RESPOND APPROPRIATELY AND TIMELY BY: (I) Preventing Potential Risks Becoming Real Risks (11) Existing Risks Becoming Disasters (111) Localized Disasters Becoming National Scale Disasters (1V) Respond To National Scale of Climate Change Disasters
  • 7. STRATEGY • Empower Sierra Leone to be capable of responding appropriately and timely to: A. Localized climate change disasters in order to avoid them becoming national scale disasters B. Respond to national scale disasters considering the importance of certain natural and man-made hazards and vulnerabilities C. Empower Sierra Leone to be capable of preventing: (i) Existing risks becoming disasters (ii)Potential risks becoming real risks. •
  • 8. THE NEED FOR CLIMATE CHANGE FINANCING PONDER ON THIS: Can the Sustainable Development Goals along with the international strategies and instruments aiming at poverty reduction and environmental protection, be successful without taking into account the risk of CLIMATE CHANGE hazards and their impacts? CAN THE PLANET AFFORD THE INCREASING COSTS AND LOSSES DUE TO CLIMATE CHANGE? THE SHORT ANSWER IS NO!