Yesterday in the course of the Fifth Commonwealth Local weather Finance Entry Hub Steering Committee assembly, held in Mauritius, the Commonwealth Secretariat launched the ‘Toolkit to Improve Entry to Local weather Finance: A Sensible Information’.
The ‘Toolkit to Improve Entry to Local weather Finance: A Sensible Information’ was launched to help Commonwealth small states and different weak member international locations to entry much-needed finance to mitigate and adapt to the devastating impacts of local weather change.
Talking on the Commonwealth Local weather Finance Entry Hub (CCFAH) assembly, Commonwealth Secretary-Common the Rt Hon Patricia Scotland QC stated:
“With each information story we hear about intensifying droughts in Africa, successive record-breaking storms within the Caribbean or submerged atolls within the Pacific. It’s important to ramp up world local weather motion if we’re to keep away from the catastrophic impacts of an overheated planet and maintain human civilisation as we all know it. We should additionally recognise that efficient world local weather motion can’t be achieved with out enough and well-targeted sources.
Local weather finance is the oxygen wanted to make sure that we ship on the targets set out in nationwide and world commitments, as captured in Nationally Decided Contributions below the Paris Settlement. That’s the reason the work of the Commonwealth Local weather Finance Entry Hub is crucial for small states and different weak international locations, because it helps higher entry to important worldwide funds.”
As a part of the CCFAH’s efforts round local weather finance undertaking improvement, coverage help and human and institutional capability constructing and accreditation help, the toolkit has been developed as a sensible useful resource to boost the capabilities of member international locations to entry local weather finance. It’s based mostly on the CCFAH expertise of the final 5 years in 16 member international locations and with data sharing being a elementary pillar of the CCFAH Hub and Spokes mannequin, the Toolkit consolidates the in-country experiences and examples from the Hub in supporting local weather finance mobilisation for member international locations.
Throughout his keynote speech, Hon Alan Ganoo, Minister of International Affairs, Regional Integrational and Worldwide Commerce in Mauritius stated:
“The COVID-19 disaster has constrained the monetary sources of Small Island Growing States and is predicted to have important implications for adaptation. Funds beforehand earmarked for adaptation tasks could have been diverted to COVID-19 responses, and quickly altering priorities disrupt adaptation planning and implementation processes.
Nonetheless, our resolve, individually and multilaterally, to deal with local weather change should not falter. When Commonwealth Leaders met in Kigali in June 2022, we have been gratified to listen to that there’s nonetheless sturdy political will behind the Glasgow Local weather Pack and a renewed dedication to delivering on the Paris Settlement.”
The CCFAH central hub is hosted by the Authorities of Mauritius in Port Louis and the CCFAH Steering Committee is tasked with exercising oversight of CCFAH’s operations. Throughout yesterday’s assembly, the Steering Committee welcomed the report “Unlocking Local weather Finance Entry for Small States and different Weak Commonwealth Nations: CCFAH’s Accomplishments, Classes Realized and Future Outlook”.
On the closing of the Fifth CCFAH Steering Committee assembly, Secretary-Common Scotland referred to as on all Commonwealth international locations to proceed being champions and ambassadors of the Commonwealth Local weather Finance Entry Hub and to work hand in hand to fulfill widespread objectives to struggle local weather change.
Media contact
- Rena Gashumba Communications Adviser, Communications Division, Commonwealth Secretariat
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