Increasing Access to Climate Finance in the Pacific
– Date/Time: October 27, 2021, 09:00 – 10:30 KST (GMT+9)
– Session lead:
- Ms. Charlotte Camille Turk, GIS Regional Technical Lead for the Pacific, GGGI
In August 2021, GGGI partnered with CFAN to announce the first eight countries to receive dedicated advisors for climate finance. Fiji, Kiribati, Papua New Guinea, Samoa, the Solomon Islands, Tonga, Tuvalu, and Vanuatu will receive advisors specifically trained and placed to unlock critical climate finance routes. Coordinated by RMI and funded with an initial contribution of CAD $9.5 million from the Government of Canada, CFAN is a global network designed to provide a prompt and practical solution to the climate finance bottleneck in SIDS, Least Developed Countries and African countries. A demand assessment conducted by CFAN in 2019 interviewed 100 representatives of 45 developing countries from both public and private sectors, and revealed resounding demand from countries, with 98% stating they would be interested in receiving a climate finance advisor.
This session aims to highlight ready to scale initiatives in for SIDS focused on access and implementation, such as the Climate Finance Access Network.
- Discussing the need for the Global North to support the Global South and how CFAN can act as a catalyst.
- Discussing priorities for climate adaptation and mitigation efforts in SIDs and barriers to financing. How the challenge of securing funding can be overcome and how CFAN’s innovative approach will help.
- Discussing the opportunities for and benefits of scaling CFAN to reach SIDS and LDCs in the Caribbean and African regions.