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Unlocking international climate finance for local actors

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This is a presentation by Marek Soanes, a researcher at the International Institute for Environment and Development (IIED), on unlocking international climate finance for local access.

The presentation was made during the devolved climate finance session at the Money Where It Matters (MWIM) event, held in London from 7-8 December 2016.

The purpose of the MWIM event was to reflect on our insights and explore further how financing mechanisms can more effectively channel resources to the local level, and identify opportunities to increase flows of finance to the local level in new contexts for development assistance and national investment.

Participants at the event also agreed on outstanding questions that require further research on finance for and with local actors to achieve the effective use and management of funds to deliver climate resilient sustainable development.

More details: https://www.iied.org/promoting-local-access-development-climate-finance

Published in: Environment
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Unlocking international climate finance for local actors

  1. 1. Unlocking international climate finance for local actors 1 Marek Soanes December 2016Marek Soanes December 2016 Marek Soanes, Researcher, IIED 7 December 2016, IIED Finance Forum Unlocking international climate finance for local actors
  2. 2. Unlocking international climate finance for local actors 2 Marek Soanes December 2016 Do we know how much climate finance reaches the local level? • IIED estimates roughly 11 per cent – US$1.6 billion – of the US$14.1 billion total flows from international funds flows to the local level • Is this a realistic figure? Adaptation 63% Mitigation - general 24% Mitigation - REDD 12% Multiple foci 1% • Climate funds are not equipped to provide this level of transparency
  3. 3. Unlocking international climate finance for local actors 3 Marek Soanes December 2016 Barriers and blockades within international funds • Priorities for large scale results • Business-as-usual financing intermediaries still dominate • Funding strategies are too risk averse • There is too little support for local capacity building • Co-financing requirements hinder local ownership • Enabling policies for community engagement are poorly enforced
  4. 4. Unlocking international climate finance for local actors 4 Marek Soanes December 2016 Promoting local climate finance in practice – the solutions… • Prioritise locally relevant results • Simple access and project approval requirements • Earmarking of small-grant based finance for local programmes • Innovating through financial instruments and flexible co-financing to unlock local public and private sector finance • Provide tailored capacity building to strengthen local capacity to manage and utilise climate finance • Build platforms for participation between national and local governments, representatives of vulnerable communities and NGOs to oversee and strengthen climate finance flows
  5. 5. Unlocking international climate finance for local actors 5 Marek Soanes December 2016 Looking forward – where do we go next? • Identify the amount of finance reaching the local level – new methodologies to overcome the tracking challenges • Including capacity building and readiness support • Learning from the other funds and financing strategies: • Processes of multi-stakeholder participation – ensuring the voices of the most vulnerable and truly heard • Building local capacity to identify climate resilient and local carbon opportunities • Unlocking local private sector finance
  6. 6. Unlocking international climate finance for local actors 6 Marek Soanes December 2016Marek Soanes December 2016 • Break-out groups of 6-8 people • 10 minutes per question and 5 minutes reporting back Questions: 1. Challenges: have we identified the right challenges stemming the flow of finance? 2. Solutions: do you see opportunities to enhance the flow of finance? 3. New frontiers: what are the outstanding questions and lessons to learn? Discussion session

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