05 Dec 2014
With UNDP's support, rural residents in Bangladesh now have the resources and capacities to build back better and become resilient in the face of environmental threats. Photo credit: UNDP Bangladesh
A vital round of United Nations climate change negotiations is underway in Lima, Peru, from Dec. 1-12. This marks a significant milestone for the crucial Paris Summit on climate change that is a year away.
At the climate talks in Lima, climate finance will again be at the forefront of negotiations and key in reaching a new global climate agreement. Initiated at the Secretary General’s Climate Change Summit in September, pledging towards the Green Climate Fund almost reached $10 billion.
So far, countries in the Asia Pacific region have received a quarter of all global public climate finance. India and China are the largest recipients. Nineteen dedicated climate funds and initiatives have approved more than $2 billion for projects in the region, since 2003. With many countries in Asia Pacific at the frontline of climate change, bolstering resilience of low lying deltas and small islands, and reducing emissions from fast industrializing nations is a good investment.
While this international financing is crucial, for it to have a sustained impact and leverage the investments needed it is also important that planning and budgeting systems are revisited through a climate lens. With the support of the United Nations through the Poverty and Environment …