Paris — The World Bank disclosed yesterday that it is partnering with the Global Covenant of Mayors to lend $4.5 billion to ensure Nigeria and 149 other countries get the funds to implement initiat

The United Nations 23rd climate conference, COP23, ended off on a high note as the African Development Bank (AfDB) officially launched its Africa NDC Hub.

Africa Finance Corporation (AFC) has signed an Accreditation Master Agreement (AMA) with the Green Climate Fund (GCF) in Seoul, South Korea.

Sub-Saharan African countries have identified agriculture as a priority for adaptation, and engaging private actors in adaptation projects is widely recognized as essential.

Developing countries, tired of waiting for help from rich countries to arrive and already facing mounting climate crises, are starting their own funds to deal with an uncertain future.

European leaders have been urged to scale up their efforts to tackle climate change as it emerged the EU does not intend to make extra emissions’ cuts to fill the gap left by the withdrawal of the

In 2013 countries agreed to establish the Warsaw International Mechanism for Loss and Damage (WIM) and agreed that it would do three things: a) enhance knowledge; b) strengthen dialogue and coordination and c) enhance action and support, including finance for loss and damage. This third element of its mandate has been sorely neglected.

Multilateral climate funds play a key role in using public finance to help drive the economic and societal transformation necessary to address climate change. There is growing pressure for policymakers to make the architecture of funds more effective and coherent.

With the rapid ratification of the Paris Agreement, international climate funds will be important in scaling up developing countries climate action.

This new report explores the potential of seven innovative climate finance options to meet the financing needs of the Adaptation Fund. It concludes that if implemented in a collective manner, these can provide a steady and predictable stream of finance for the Fund.

Pages