CLIMATE FINANCE

Advocating for fair and sufficent funding and finance for climate action to ensure easy acess and mobilization of investments to support local communities in mitigation and adaptation action to address climate change.

Elizabeth Mukwimba is a 62-year-old Tanzanian woman who now has solar lighting and electricity in her home at the flick of a switch, thanks to a scheme backed by UK aid. Elizabeth has had an M-Power solar panel and lights fitted in her home by Off Grid Electric, a private sector company dedicated to providing sustainable, affordable energy to people in developing countries who aren't connected to the electricity grid. It means that Elizabeth now has lighting at home at night, which means she doesn't have to buy expensive kerosene. The money she's saved already has helped her put a new tin roof on her house. It also means her grandchildren can read and do their homework in the evening. Our discussion groups responded positively to images where they could make direct eye contact with the subject of the image.
Elizabeth Mukwimba is a 62-year-old Tanzanian woman who now has solar lighting and electricity in her home. Without acess to climate finance she couldn't invest in to solar power. Climate Finance make local adaptation and mitigation actions like this possible.

UNLOCK FAIR FINANCE

Fair climate finance is key in africa to enhance climate resilience of vulnerable communities. Sufficent, timely and easy acessable funding for urgently needed mitigation and adaptation actions is needed to ensure a just development securing a liveable future in africa. CAN Africa advocates  that investments and funds are aviable for local communties and smallholders. We urge developed nations to bridge the inacceaptable gaps in climate finance. 

Reflecting COP26: Deep regret for failing to finance

Back-up your promises: Bridge the Gaps !

Twelve years ago, developed nations committed to mobilize USD 100 billion every year by 2020 up to 2025 to support climate efforts in developing countries. COP 26 noted ‘with deep regret’ that this commitment was not reached in 2020. It also noted with serious concern the gap in relation to the fulfillment of the goal of developed country parties to mo-bilize jointly USD 100 billion per year by 2020, including due to challenges in mobilizing finance from private sources.

Developed countries have failed to meet their commitments to developing countries. At the same time countries agreed to develop a new and bigger climate finance goal by 2024 to take effect from 2025. This new climate finance deal is expected to have broader options. An Ad Hoc Work Program was convened to map out the details. For African countries impacted severely by climate change there was skepticism and overall doubt of the new climate finance deal since the current one has not been honored. Financing is needed to help African countries to adapt to impacts of climate change and therefore the COP26 adoption of the Glasgow-Sharm el-Sheikh work programme for the Global Goal on Adaptation (GGA) was warmly welcomed by CAN Africa.

“Parties still have much ground to cover on climate finance and of more important en-suring that the finance is easily accessed and reaches communities in need in develop-ing countries. COP27 in Africa remain as an important opportunity to make significance advance on climate finance´´

Dr. Sixbert Mwanga

The Agricultural Research Institute in Aursha, Tanzania, researches on climate-smart agricultural praticies. Research like this to enhance climate-resilience of local communities is insufficent funded in africa. Climate finace needs to get aviable for researchers, enterpreneurs, smallholders and local NGOs

Walk the talk: USD 100 billion per year

More Money For Adaptation

CAN Africa also joins the voices of the developing countries calling for the assessment and reviewing the delivery towards the goal of the USD 100 billion goal until 2025. We also welcome the idea of an official UNFCCC synthesis reports on the same.

CAN Africa also calls for scaling up of adaptation finance by developed countries towards achieving the goal to mobilize jointly USD 100 billion per year by 2020. From 2020 to 2025 they must pro-vide at least USD$100 billion annually, equally split between support for adaptation and mitigation. And fully agrees with the COP decision urging the COP 27 Presidency to organize the high-level to ministerial dialogue on climate finance in 2022 on the progress and fulfillment of the goal of mobilizing jointly USD 100 billion per year by 2020.

Adaptation finance still lags behind finance for mitigation, representing roughly 25% of total cli-mate finance in 2019. Securing finance for adap-tation is a critical issue for parties most vulnerable to climate change, especially the Small Island De-veloping States (SIDS) and Least Developed Countries (LDCs). The “Glasgow climate pact” settled on a call for developed nations to “at least double their collective provision of climate finance for adaptation” from 2019 levels by 2025. Even though this represents a significant improvement on current levels, it is still not enough compared to the amount required for adaptation.