ACT Alliance: Post 2025 Climate Finance Architecture – through a climate justice lens
November 3rd is “climate finance day” at COP26, when ACT Alliance launches the new report Post Climate Finance Architecture Through a Climate Justice Lens. The report assesses the climate finance which has been delivered until now and proposes a way forward for a new post-2025 finance decision. [ACT Alliance Media release]
What is the ACT Alliance Paper?
E Co. Senior consultant, Mel Phadtare states:
The ACT Alliance paper serves as a tool for information, discussion and decision making at COP 26 and future climate talks with intent to bring about a new climate-just financial framework post 2025 that leaves no one behind. On Wednesday 3rd November in Glasgow, negotiators will discuss climate finance and we can expect long, possibly tense and nuanced debate. Above all else we wish for these discussions to be inclusive and hopeful for all. Six climate finance themes have been explored in this research to shed light on where we are at, what we have learned and where we can go from here to finance the growing need of the global climate emergency in a more fair and equitable way. The six climate finance themes include:
- New and additional
- Allocations and
- Special attention
At Glasgow’s COP26 a path should be created to agree on an increased funding target after 2025. The meeting is also an excellent moment to reflect on whether the USD 100 billion commitment has served its purpose of sharing the burdens of solving the climate crisis in a just way. For this reason, Act Alliance commissioned a report called Post 2025 Climate Finance Architecture — through a climate justice lens. The report identifies failures in fulfilling the funding commitment and it provides many concrete recommendations on how the financial architecture could be improved. [ACT Alliance]
To learn more about ACT Alliance, head to their website here.
E Co’s involvement in the work
E Co. Senior consultant, Mel Phadtare explains: “E Co. has been dedicated to climate finance solutions for developed countries since our inception in 2000. Our aim is to assist and accelerate access to these funds to address climate impacts and risks, current and future. We are also translators and educators, describing the requirements of climate finance mechanisms to communities, governments, institutions, the private sector and member organisations like the Act Alliance. Our role on this assignment was to research and report on the current climate finance regime with the best available science and literature, and form recommendations on the changes required to reduce and remove barriers reflective of accelerating finance that is mobilised in consideration of climate justice and a human rights based approach.”