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New Financing Opportunities from COP22

Updated: Mar 1, 2019



A new financial agreement was put in place at the COP22 international climate negotiations in Marrakech, Morocco last November, when both developed and developing countries launched a new partnership. The NDC Partnership aims to empower developing countries to achieve climate change goals under the terms of the Paris Agreement and long-term sustainable development goals.


Working together towards enabling developing countries will be ministers and other high-level representatives from many countries and international institutions. They will focus on granting more efficient access to the technical knowledge and financial support necessary to assist each country to deliver on their Nationally Determined Contributions (NDCs).


The press release announcing the commencement of the partnership, initially co-chaired by governments of Germany and Morocco indicates a three-pronged approach driven by country demands and priorities:

- Create and disseminate insightful knowledge products that raise awareness of and enhance access to existing support initiatives, tools, and resources, including finance.

- Facilitate technical assistance and capacity building at national, regional and global levels by fostering greater collaboration between environment and development agencies.

- Facilitate enhanced financial support of existing and new country-specific, bilateral and international NDC support programs.


The initial budget consists of Germany’s financial alignment with the partnership – €2.7 billion from budgetary resources alone last year – with plans to extend funding to €4 billion by 2020.


‘’The implementation of Nationally Determined Contributions (NDCs) is now the urgent topic on the agenda for the international climate community’’, says Barbara Hendricks, German Environment Minister.


Along with the partnership, another useful tool was set in motion, the NDC Funding & Initiatives Navigator which is a comprehensive online database of climate finance and support initiatives.

See press release here.


#financing

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