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The document defines adaptation finance as funding intended to enhance resilience to climate risks, such as strengthening infrastructure and developing drought-tolerant crops. It highlights a significant funding gap, noting that developing countries may need between $215 and $387 billion annually by 2030, while current levels are far lower. The text identifies barriers to accessing these funds, including high costs of capital and limited institutional capacity in least developed countries. It also contrasts adaptation finance with mitigation finance, which receives more funding due to more immediate financial returns. Finally, it discusses international commitments under the UNFCCC and the New Collective Quantified Goal (NCQG) to scale up climate finance by 2035.

In 2021/22, Nigeria received USD 2.5 billion in climate finance, representing a 32% increase from 2019/20 but leaving an annual finance gap of USD 27.2 billion. Public actors provided 70% of this funding, with multilateral development finance institutions (DFIs) as the largest providers at 48%. Mitigation investments (USD 1.2 billion) dominated, primarily driven by solar PV, while adaptation finance (USD 0.74 billion) covered only 6% of estimated needs. The report highlights a heavy reliance on debt for international public finance and identifies critical barriers such as high capital costs, a lack of bankable projects, and limited green fiscal incentives.

The document examines the differing motivations for green industrialisation between African nations, which prioritise economic diversification and job creation, and high-income countries, which focus on decarbonisation and geopolitical competitiveness. It highlights the financial gap facing developing countries, noting that adaptation finance needs are projected to reach USD 215-387 billion annually until 2030. The author argues that while developed nations use industrial policies to secure critical raw materials and maintain a competitive edge, Africa seeks to transition from raw material exports to value addition. To bridge these gaps, the paper recommends that the G20 facilitate affordable green technology transfer, coordinate non-debt-creating climate finance, and support the establishment of mineral value chains close to their source in Africa.

Global climate finance for agrifood systems reached USD 94.9 billion in 2021/22, representing 7.2% of total global climate finance. While flows have increased since 2019/20, the report finds that investment is critically misaligned, with a massive funding gap of USD 1.1 trillion annually required through 2030 to align the sector with climate goals. Growth is heavily concentrated in domestic public investment in China and Europe, while private capital remains largely absent in sub-Saharan Africa and Latin America and the Caribbean. Mitigation finance is dominated by energy-related projects like agrivoltaics, while adaptation finance remains heavily reliant on public grants. The report calls for a strategic mix of financial instruments and policy reforms to unlock capital for high-impact solutions such as soil carbon management and nature-based solutions.

In 2021/22, Nigeria received USD 2.5 billion in climate finance, a 32% increase from 2019/20, yet this remains far below the estimated annual need of USD 29.7 billion. Public actors, led by multilateral development finance institutions, provided 70% of the funding, while private contributions reached 30%, primarily driven by corporate investments in solar PV. Mitigation efforts dominated the landscape, particularly in energy systems, while adaptation finance reached only USD 0.74 billion, covering just 6% of estimated needs. The report highlights critical barriers including high capital costs, a lack of bankable projects, and heavy reliance on debt, which is concerning given Nigeria's substantial debt burden. Key recommendations include operationalizing the National Climate Change Fund, prioritizing anticipatory adaptation, and developing a domestic green industry to reduce import dependence.

The document outlines strategies for public development banks (PDBs) to enhance climate finance, focusing on Paris alignment, public-public collaborations, and private capital mobilization. It emphasizes the need for a bottom-up approach to ensure national ownership and the use of de-risking tools like guarantees to close investment gaps in emerging markets and developing economies (EMDEs). Key recommendations include improving transparency in alignment assessments, expanding concessional funding for national development banks (NDBs), and supporting just energy transitions through the early retirement of coal plants.

The African Climate Foundation outlines a strategic framework for Africa's sustainable transformation by 2030, emphasizing regional integration, green industrialization, localization, domestic capital mobilization, and governance strengthening to avoid extractive economic patterns.

The San Giorgio Group's 11th meeting focused on redirecting climate finance strategies amidst geopolitical uncertainty. Key recommendations include empowering National Development Banks (NDBs) to leverage domestic capital, reforming Multilateral Development Banks (MDBs) to prioritize private capital mobilization over direct project finance, and scaling adaptation finance through better insurance coordination and risk reduction. The group emphasizes shifting the climate narrative from 'doom and gloom' to one of economic opportunity and 'kitchen-table issues' to better engage policymakers and citizens. A concrete 2025 agenda includes launching 10-15 additional country platforms, operationalizing the Baku-to-Belem Roadmap for the New Collective Quantified Goal (NCQG), and creating a network of insurance regulators for climate.

South Africa's 2025 G20 presidency focuses on four key priorities: disaster resilience, debt sustainability for low-income countries, financing just energy transitions, and critical minerals for sustainable development. The presidency aims to elevate 'country platforms' like South Africa's Just Energy Transition Partnership (JETP) and bring African climate finance concerns to the forefront. The Sustainable Finance Working Group (SFWG) for 2025 is tasked with strengthening the global sustainable finance architecture, scaling up adaptation and just transition finance, and unlocking carbon market potential. The report highlights opportunities for South Africa to enhance follow-up mechanisms for G20 commitments, engage African Union (AU) structures, and coordinate with Brazil ahead of COP30. However, the report notes diplomatic challenges regarding the US presidency's approach to climate multilateralism and the Paris Agreement.

The report outlines five key steps for developing financial instruments for climate adaptation: defining a clear resilience thesis, building pipelines with predictable cash flows, strategically structuring risk and returns through blended capital, cultivating local collaborations, and implementing robust impact measurement. It notes that while The Global Innovation Lab for Climate Finance has supported over 20 adaptation-focused instruments mobilizing more than $1.2 billion, the sector still faces challenges including high perceived risk, limited investor awareness, and difficulties in pricing climate risk.

The report outlines a five-step framework for structuring adaptation-focused financial instruments: defining a resilience thesis, building a bankable pipeline, strategically engaging funders, cultivating local collaborations, and measuring impact. It highlights that while adaptation finance lags behind mitigation, private sector opportunities exist if perceived risks are managed through blended finance and simplified structures. Based on 17 adaptation-relevant instruments, the report notes that 12 successfully mobilized capital, totaling USD 1.2 billion, emphasizing the role of technical assistance and concessional capital in de-risking early-stage projects.

The LoCAL+ programme aims to increase the climate resilience of approximately 3.49 million people across 85 local governments in Burkina Faso, Ivory Coast, Mali, and Niger. The initiative combines a performance-based climate resilience grant (PBCRG) system for public investments with Blended Finance Facilities to support local SMEs and producers' organisations. The programme focuses on seven key intervention areas: climate-adapted agriculture, forestry and ecosystem conservation, agroforestry, water and health, energy efficiencies and renewables, climate-resilient infrastructure, and coastal areas in Ivory Coast. It is implemented by the West African Development Bank (BOAD) as the Accredited Entity, with UNCDF as an implementing partner and various national agencies as executing entities.

Climate justice activist Joshua Omonuk, representing the Agape Earth Coalition, calls for a fundamental shift in how climate adaptation finance is delivered to Africa. Highlighting that Africa receives only about 2% of total global climate funds, the author demands that COP29 establish a fairer system characterized by direct access for Least Developed Countries (LDCs) and Small Island Developing States (SIDS), a preference for grants over loans to avoid debt, and increased accountability for private sector polluters. The document also details a European tour conducted by the coalition to build political alliances with MEPs and NGOs to amplify these demands ahead of the summit.

The document analyzes the implementation of Article 6 of the Paris Agreement, focusing on the distinctions between the bilateral/multilateral trades of Article 6.2 and the UN-overseen global market of Article 6.4. It highlights critical loopholes, including the risk of double counting in aviation offsetting (CORSIA), the lack of oversight for Article 6.2 trades, and the potential for 'junk' credits from the Clean Development Mechanism (CDM) to transition into the new system. The author argues for stricter authorization processes, mandatory transparency, and a 'firewall' between carbon markets and the new climate finance package being negotiated at COP29.

The briefing introduces a three-step framework designed to move adaptation finance beyond simple fund allocation toward achieving equitable outcomes and structural change. It argues that current international funding often fails to reach the most vulnerable populations and frequently ignores the root causes of vulnerability. The framework guides actors through defining their equity goals, selecting guiding principles, and addressing eight specific elements of distributive equity across the project cycle. These elements range from ensuring fair allocation and resource access to more ambitious goals like protecting human rights, addressing intersectionality, and enabling decolonization to dismantle systemic drivers of marginalization.

The document assesses whether expanding the mandatory contributor base for climate finance to include emerging economies can bridge the gap between current funding and the estimated USD 1 trillion per year needed by developing countries. It finds that even if candidate emerging countries contributed at the same rate as developed countries, the additional funds would only cover about 5.12% of the minimum need. The briefing argues that developed countries must maintain primary responsibility, highlighting that many current contributors have not met their 'fair share' and that much of the provided finance consists of loans that increase the debt burden of vulnerable nations.

The proposal outlines a 48-month project implemented by the UNDP to establish a comprehensive National Adaptation Plan (NAP) for India. It aims to address critical gaps in cross-sectoral coordination, climate risk data, and adaptation finance. Key activities include developing sectoral adaptation roadmaps for nine priority areas, creating a national monitoring and evaluation (M&E) framework, and establishing a web-based repository for vulnerability studies. A significant portion of the project focuses on the private sector, aiming to develop investment strategies and business cases to overcome the perception that adaptation is a "high-risk and low-gain" investment. The project will also develop two project concept notes to access further GCF funding and map existing adaptation finance flows in India.

The GCF Secretariat report details progress on its 2024 work programme, highlighting a new organizational structure launched on 9 September 2024 to improve investment efficiency and country ownership. Key achievements include the approval of 28 funding proposals for USD 1.5 billion and the operationalization of the 2024–2027 Readiness Strategy. The Secretariat is implementing the "Efficient GCF" initiative to reduce project review times and is developing a revised accreditation framework to simplify access. While programming targets are on track, challenges persist in private sector pipeline development and the procurement of no-objection letters.

The report assesses the four Vertical Climate and Environmental Funds (VCEFs)—the Global Environment Facility (GEF), Adaptation Fund (AF), Climate Investment Funds (CIF), and Green Climate Fund (GCF)—concluding that while they provide essential concessional finance, they are fragmented and often inefficient. It proposes a 'process integration' approach to shift from individual projects to country-driven investment platforms, recommends harmonizing accreditation and reporting across funds, and suggests expanding the use of diverse financial instruments like guarantees and local currency lending to better catalyze private capital in emerging markets and developing economies.

The report finds that while climate finance in Africa grew by 48% to USD 43.7 billion in 2021/22, it remains severely insufficient, meeting only 23% of the annual needs required for NDC implementation. Public finance dominates the landscape, providing 82% of total flows, while private finance is heavily concentrated in energy systems and a small number of countries. The document highlights a critical 'trilemma' where climate-vulnerable countries are also debt-distressed and conflict-affected, further hindering their ability to attract investment. Key recommendations include scaling the use of guarantees, improving domestic capital market regulations, and enhancing the transparency and equity of voluntary carbon markets.