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New Toolkit to enhance access to finance for Small, vulnerable states

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New Toolkit to enhance access to finance for Small, vulnerable states
Photo source: GIS Mauritius

During the Fifth Commonwealth Climate Finance Access Hub Steering Committee meeting, held this week in Mauritius, the Commonwealth Secretariat launched the ‘Toolkit to Enhance Access to Climate Finance: A Practical Guide’.

The ‘Toolkit to Enhance Access to Climate Finance: A Practical Guide’ was launched to support Commonwealth small states and other vulnerable member countries to access much-needed finance to mitigate and adapt to the devastating impacts of climate change.

Speaking at the Commonwealth Climate Finance Access Hub (CCFAH) meeting, Commonwealth Secretary-General the Rt Hon Patricia Scotland QC said:

“With every news story we hear about intensifying droughts in Africa, successive record-breaking storms in the Caribbean or submerged atolls in the Pacific. It is essential to ramp up global climate action if we are to avoid the catastrophic impacts of an overheated planet and sustain human civilisation as we know it. We must also recognise that effective global climate action cannot be achieved without adequate and well-targeted resources.

“Climate finance is the oxygen needed to ensure that we deliver on the targets set out in national and global commitments, as captured in Nationally Determined Contributions under the Paris Agreement. That is why the work of the Commonwealth Climate Finance Access Hub is essential for small states and other vulnerable countries, as it supports better access to essential international funds.”

As part of the CCFAH’s efforts around climate finance project development, policy support and human and institutional capacity building and accreditation support, the toolkit has been developed as a practical resource to enhance the capabilities of member countries to access climate finance.

It is based on the CCFAH experience of the last five years in 16 member countries and with knowledge sharing being a fundamental pillar of the CCFAH Hub and Spokes model, the Toolkit consolidates the in-country experiences and examples from the Hub in supporting climate finance mobilisation for member countries.

At the closing of the Fifth CCFAH Steering Committee meeting, Secretary-General Scotland called on all Commonwealth countries to continue being champions and ambassadors of the Commonwealth Climate Finance Access Hub and to work hand in hand to meet common goals to fight climate change.

Original article at thecommonwealth.org

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.