Climate Adaptation Funds for Developing Countries

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When did climate change become a global issue? It started thirty years ago when Dr. James Hansen, then NASA’s Institute director for Space Studies, testified before a Senate committee on 23 June 1988.

Their observations show the greenhouse effect is changing our climate. He attributes this warming to the human exploitation of carbon energy sources (Brulle, 2018).

Though the progress in addressing climate change has stalled since Hansen’s testimony, the last decade has shown increased attention to climate change and its widespread consequences.

Climate change has become a prominent issue in the previous decade, and this time, actions to address it are not slowing down as countries around the world are starting to experience its effects.

The urgency to address climate change has pushed governments, private institutions, and organisations to call for climate change funding.

Governments, private institutions, and organisations have started to make climate change a part of their funding plan to address this critical issue. Wealthy nations have contributed to the majority of GHG emissions historically and up to the present; recognising this, they have begun pooling their resources to fund climate adaptation and mitigation actions.

These funds will go to developing countries to address their vulnerabilities and build resilience to climate change and help them transition to clean and renewable energy.

According to Funds for NGOs, contributions from developed countries on renewable energies rose from USD 221 million to 1.2 billion from 2008 to 2011. The organisation expects funding to continue to flow to fund climate projects.

More climate funds flowing in.

An announcement from the UN Climate Change says that several developed country members who have signed up to the Paris Agreement, multilateral development banks, and multilateral climate funds will increase their climate financial support by at least 50%, reaching at least GBP 5.8 billion between 2016 – 2021. Half of this funding will go to climate adaptation projects (List of Recent, 2021).

Climate Change Adaptation Funds and how to access them.

The USAID Adapt Asia Pacific has created a quick guide to assist eligible Asian and Pacific countries, or those who are the most vulnerable to climate change, gain improved access to finance for climate change adaption projects. 

The guide lists ten major multilateral and bilateral climate funds and initiatives that currently provide climate adaptation financing to developing countries.

The guide that the organisations’ team of climate finance experts developed presents “only the need-to-know, essential bits of information and provides key facts about individual funds, such as eligibility criteria, target areas, and, importantly, the mechanisms that will ultimately help you gain access and approval”.

Source Citation:

Brulle, R. (2018, 19 June). 30 years ago global warming became front-page news-and both Republicans and Democrats took it seriously. The Conversation. Retrieved from https://theconversation.com/30-years-ago-global-warming-became-front-page-news-and-both-republicans-and-democrats-took-it-seriously-97658#:~:text=June%2023%2C%201988%20marked%20the,change%20became%20a%20national%20issue.

Funding for Climate Change and Environment: A Resource Guide. (n.d.). fund for NGOs. Retrieved from https://www.fundsforngos.org/free-resources-for-ngos/funding-climate-change-environment-resource-guide/

 A Quick Guide to Climate Change Adaptation Funds. (2017, 31 May). Climate links. Retrieved from https://www.climatelinks.org/resources/quick-guide-climate-change-adaptation-funds

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