New pledges made towards climate adaptation at COP26
“Every pledge that brings us closer to providing US$100bn in climate finance every year for poorer countries is welcome. That many wealthier nations are also pledging money to support countries to adapt to climate change, as well as reduce their emissions, is a sign of real progress, tackling both sides of the climate crisis.
"What’s more, many of those wealthier nations are also agreeing to get finance and decision-making to local communities on the front lines of global warming, supporting them to lead their own response.
“What we need to see next are measures to make it much simpler for communities vulnerable to climate change to access this finance given that millions of people are already facing destitution, destruction and even death as a result of global warming.
"Wealthy countries also need to ensure that what’s counted as climate finance is truly worthy of the name and not just ‘business-as-usual’ investments or fossil fuels dressed up in green clothing.”
Contact
For more information or to request an interview, contact Sarah Grainger via email sarah.grainger@iied.org or 07503 643332.
Notes to editors
On 8 November, just over $600m has been pledged for locally-led adaptation through Kenya’s Financing Locally Led Climate Action programme with the World Bank, the Least Developed Countries’ Initiative for Effective Adaptation, Asian Development Bank Community Resilience Partnership, the Adaptation Fund Contributor Dialogue and the COP26 Presidency’s Task Force on Access to Climate Finance.
Despite these pledges, the gap remains large. There are calls from vulnerable countries for $1bn commitment at COP26 to reach communities on the front line of climate change through direct access.
For more information or to request an interview, contact Simon Cullen:
+44 7503 643332 or simon.cullen@iied.org