Experts and veteran climate campaigners from around the world were clear on urgent steps ministers could take at this year’s climate and development ministerial that UK and Rwanda will host in September on the road to COP27. Unlocking access to finance is a major priority shared by all panellists.
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September’s Climate and Development Ministerial will be the second iteration after a progressive agenda was established in a virtual ministerial roundtable March last year. Panellist Raju Chhetri of PRC Nepal summed up the opportunity: show how to operationalise the trust building exercise between Global North and South, talk frankly (but not only) about how to include equity in the bigger climate finance picture, and get resources to communities on the ground.
Ideas raised in the webinar discussion included ministers pushing banks and funds to harmonise and simplify their accreditation processes to reduce the red tape for vulnerable countries that currently wait years for approvals. The idea of dedicating funds to direct access by communities was raised, as well as improving the eligibility criteria for funds from the IMF’s resilience and sustainability trust so it can serve its purpose of enabling countries fiscal breathing space amidst multiple crises. Loss and damage from climate impacts is a major challenge that needs strong attention at the 2022 ministerial, with the panel suggesting progress in real funds flowing and in getting loss and damage finance onto the agenda of decision-making processes under the UN climate negotiations at COP27.
Listen back to the full webinar to hear all of their crucial ideas on building the climate and development agenda for success at COP27.
- Dr Shehnaaz Moosa, South South North
- Prof Saleemul Huq, ICCCAD
- Raju Pandit Chhetri, PRC
- Clare Shakya, IIED
- Nisha Krishnan WRI
- Alex Scott, E3G