A joint effort with the SCCF, the MAVA Foundation, the International Institute for Sustainable Development (IISD), and the United Nations Industrial Development Organization (UNIDO) is using financial modelling and climate change forecasts to demonstrate the real value of nature-based solutions to investors and governments.SCCF projects cut across a range of sectors and geographies. SCCF financing has also bolstered the climate resilience of public infrastructure such as schools, roads, and ports, supported the development of catastrophe risk insurance, and supported small and medium-sized enterprises in the adaptation space. The SCCF is increasingly focused on supporting innovation that can scale up climate change adaptation solutions.Īctivities funded by the SCCF have fostered improvements in agriculture, water resources, disaster risk management, infrastructure, climate information systems, natural resource and integrated coastal zone management, as well as climate change-driven disease prevention. Roughly one third of SCCF initiatives are aimed at expanding access to improved climate information services. SCCF work has supported 7,500 assessments of risk, vulnerability, and other factors, and helped bring nearly 4 million hectares of land under more sustainable management. In the 20 years since its inception, the SCCF has invested $355 million in 87 projects benefiting 7 million people around the world. And cutting-edge tools such as artificial intelligence and drones can dramatically improve climate risk data, which can be a boon to everything from disaster risk mitigation to municipal budget planning and the design of commercial lending products. Incubators and targeted funds can attract private-sector involvement in climate adaptation innovation. Small farmers provided with equitable and localized lending can afford to invest in climate adaptation technologies. Recent initiatives backed by the SCCF show these obstacles are far from insurmountable. Lack of access to finance from public sources and to markets for adaptation solutions.Low engagement by the private sector, including small and medium-sized enterprises and entrepreneurs, for developing and providing adaptation solutions.Limited institutional capacity to foresee and manage climate risks. Limited access to climate-resilient technologies and infrastructure.The SCCF’s main goal is to facilitate the creation of strong, climate-resilient economies and communities by helping countries address a range of barriers, including: The SCCF facilitates the inclusion of resilience and adaptation in larger efforts backed by the GEF trust fund, and in projects that promote private sector involvement. SCCF financing is open to all vulnerable developing countries and supports a wide spectrum of adaptation activities, including innovative tools that can be scaled for impact. Both funds have a mandate to serve the Paris Agreement. The SCCF is managed by the GEF and operates in parallel with the Least Developed Countries Fund (LDCF). The Special Climate Change Fund, one of the world’s first multilateral climate adaptation finance instruments, was created at the 2001 Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) to help vulnerable nations to address these negative impacts of climate change.
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