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The report warns that under a 3°C warming scenario, approximately 800 million people (10% of the global population) would live on land below the projected high-tide line. It highlights that Asia is the most exposed region, with China, India, Vietnam, and Indonesia facing significant risks. The document argues that adhering to the Paris Agreement's 1.5°C target could reduce this exposure by approximately half, potentially saving many coastal megacities from abandonment or the need for unprecedented flood defenses.

The Bahamas is seeking Green Climate Fund (GCF) readiness support to overcome the lack of Direct Access Entities, which currently acts as a barrier to climate finance. The proposal focuses on capacity building for three national financial institutions, developing a GCF-compliant Monitoring and Evaluation Framework, and creating a pipeline of private sector projects for renewable energy and energy efficiency. Key beneficiaries include the Bahamas Protected Areas Fund, the Bahamas Development Bank, and Access Accelerator, with the ultimate goal of helping the country achieve its Nationally Determined Contributions (NDC) targets.

The Green Climate Fund (GCF) Accreditation Panel recommends the Caribbean Development Bank (CDB) for accreditation as a regional entity for 'small' projects (up to USD 50 million) with a high environmental and social risk category (Category A/I-1). The CDB demonstrated strong fiduciary standards, a track record of mobilizing approximately USD 200 million for climate action, and a robust gender equality policy. However, accreditation is conditional upon the CDB establishing a public system for reporting the progress of grant-funded projects and finalizing a permanent external communications mechanism for environmental and social complaints.

The report form classifies the Global Subnational Climate Fund (SnCF Global), managed by Pegasus Capital Advisors (PCA), as a Category I-2 programme. It confirms that an Environmental and Social Management System (ESMS) has been established and disclosed in multiple languages to accommodate target countries across Africa, Asia-Pacific, Latin America and the Caribbean, and the Mediterranean.

GEEREF NeXt adopts the EIB Group’s Gender Strategy to address the gendered nature of energy poverty in developing countries. The fund focuses on the upstream renewable energy value chain, aiming to avoid aggravating existing inequalities while promoting female entrepreneurship and representation in the energy workforce. It identifies specific risks associated with on-grid projects, such as discriminatory land-use norms and limited female employment, and plans to require Investee Funds to conduct project-specific gender assessments supported by the GEEREF NeXt Technical Assistance Facility.

Key messages delivered by Kishan Khoday of the United Nations Development Programme (UNDP) at the UWI Regional Conference on Resilience to Hurricanes in the Caribbean on 2 October 2024, outlining UNDP's regional climate action, specific country initiatives, and future priorities for resilient development.