A new Commonwealth e-learning course launched yesterday will enhance the flexibility of Caribbean nations to entry billions of {dollars} in local weather finance.
The Commonwealth Secretary-Normal Patricia Scotland KC, launched the ‘Commonwealth Climate Finance Essentials E-learning Course’ at an occasion on 11 December 2023 in Dubai through the United Nations Local weather Change Convention (COP28).
The course builds on the in depth expertise of the Commonwealth Climate Finance Access Hub. The hub has helped 17 small and weak states in Africa, the Caribbean, and the Pacific to entry greater than US$322 million in local weather finance for initiatives to mitigate and adapt to the impacts of local weather change.
Authorities officers and consultants can use the course to higher perceive advanced areas, such because the local weather finance panorama, the compliance necessities set by main funders, the monetary requisites for accessing funding and the particular wants of weak teams.
Crucially, the course introduces officers to the core parts wanted to put in writing a profitable utility for securing local weather finance for initiatives. It additionally unpacks the usage of revolutionary instruments, equivalent to earth remark knowledge, to enhance undertaking rationale and navigate pink tape.
On the 2022 Commonwealth Heads of Authorities Assembly, leaders urged developed nations to totally ship on their dedication to offering US$100 billion yearly in local weather finance to assist creating nations tackle challenges posed by local weather change.
Nevertheless, entry to funding stays a barrier. Some small island creating states report spending two to a few years to develop a local weather undertaking proposal. That is adopted by one other 12 months of authorized and implementation preparations earlier than governments obtain funds and may begin initiatives.
Talking on the occasion, Secretary-Normal Patricia Scotland stated:
“Regardless of contributing least to the issue, small and weak states are bearing the largest burden. More and more frequent and excessive climate occasions are inflicting widespread destruction to livelihoods and infrastructure – and destroying economies.
“Whereas the worldwide neighborhood is stepping in to supply assist, it’s not sufficient. Small and weak states additionally must navigate the demanding situations obligatory for accessing out there local weather funds.
“The Commonwealth’s e-learning course is a big step in the direction of serving to authorities officers higher perceive the advanced constructions of multi-billion-dollar funds and entry the finance they want.”
Through the occasion, Saber Hossain Chowdhury, Particular Envoy of the Prime Minister of Bangladesh for Local weather Change, drew consideration to the capability challenges confronted by creating nations in accessing local weather finance on time.
He particularly pointed to the extended approval course of, citing situations the place Bangladesh needed to wait almost 9 years to obtain funds after submitting undertaking purposes.
Chowdhury stated:
“The course is a superb device. All the great practices from the Commonwealth are introduced collectively and are actually out there within the type of e-learning. It is going to assist with constructing that capability that’s so very important.”
By means of this course, he added, nations outfitted with the mandatory capability wouldn’t solely have precedence in accessing funds, but in addition guarantee assist reaches these most in want.
Orlando Habet, Belize’s Minister of Sustainable Improvement, Local weather Change and Catastrophe Danger Administration, endorsed the brand new course.
He stated: “Local weather finance is vital for small island creating states and least developed nations. We now have been advised that the method of discovering finance takes too lengthy. This course will help us to chop down on that point.”
The minister additionally thanked the Commonwealth Secretariat for deploying a nationwide local weather finance adviser to Belize. He added that the adviser has been aiding his nation in securing funding to implement the nationwide local weather plans.
The course is a part of a package deal of assets developed by the Commonwealth Secretariat to assist its 56 member nations in tackling the worldwide local weather disaster.
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