Making a difference in Pacific Small Island Developing States (SIDS)
The project ‘Climate-Resilient Urban Development in the Pacific’ ($17.5 million grant, Asian Development Bank) will address climate change risks to urban services, particularly water and sanitation, in the urban centers of four Pacific LDC SIDS: South Tarawa (Kiribati), Honiara (Solomon Islands), Funafuti (Tuvalu), and Port Villa (Vanuatu). Pacific SIDS are among the world’s most vulnerable countries to adverse impacts of climate change. Urban areas tend to be on the coast and thus particularly exposed to climatic hazards, with population growth hindering traditional coping mechanisms and contributing new stresses— socio-economic and environmental—that increase vulnerability. The program will focus on institutional and investment activities that will deliver direct adaptation benefits to 250,010 people, train 400 people about climate risks and adaptation options, and support adaptation mainstreaming in three development policies and plans. This project was approved in June 2019.
Supporting farming communities in Cambodia
The project Promoting Climate-Resilient Livelihoods in Rice-Based Communities in the Tonle Sap Region ($9.7 million grant, FAO), will improve the climate resilience of rice growing communities through an ecosystem-based, market-driven approach. Cambodia is highly dependent on rice cropping, largely driven by smallholders, who are constrained by rainfall availability and affordable rice varieties. The proposed project will boost climate resilience in six provinces. The project will provide direct adaptation benefits to 170,200 people, train 25,900 people about climate risks and adaptation options, increase the climate resilient management of 67,309 ha of land, and seek to mainstream adaptation in relevant national and provincial development policies and plans. Through the Sustainable Rice Platform, the project also has the potential to participate in emerging, innovative partnerships with the private sector. This project was approved in June 2019.
Supporting system transformation
The GEF is committed to work with the global community to help restore the balance between Earth systems and humans. The GEF is supporting countries to enhance adaptive capacity, strengthen resilience and reduce vulnerability to climate change in line with the goals of the Paris Agreement, by mainstreaming resilience and adaptation to catalyze transformation of key economic systems.
Enhanced complementarity with other sources of finance
A critical aspect of the GEF’s 2018-2022 adaptation strategy is to ensure complementarity with other finance sources, so that countries can undertake resilience programming in an effective and harmonized way. The ‘coordinated engagement’ pilot with the Green Climate Fund (GCF) encourages joint GEF-GCF programming in countries. The two funds are strengthening coordination on support for National Adaptation Plans (NAPs) and harmonized investment support.
Enhanced private sector engagement
Expanding catalytic grant and non-grant investments: Supports pilot investments to test new technologies, develop entrepreneurs through incubators, seed funding and venture capital approaches
Support enabling environments for the private sector to act as an agent for market transformation: focus on fostering enabling environments for private sector engagement; enhancing risk pooling and other insurance solutions, leveraging partnerships, exploring strategic linkages with private sector companies, and mobilizing the private sector as an agent for adaptation by supporting the mainstreaming of climate change adaptation and resilience considerations into business models and risk management capabilities.
Challenge program for adaptation innovation to harness the potential of private sector actors launched
Catalyzing Private Investment to Support Resilience ($1 million SCCF grant; Conservation International)
Together with partners including the Lightsmith Group, Nordic Development Fund and Conservation International, the SCCF helped contribute to an equity fund titled Climate Resilience and Adaptation Finance and Technology Transfer Facility (CRAFT). CRAFT has been highly catalytic: by its first close, the $1 million SCCF grant helped to mobilize $88 million of signed commitments to invest. CRAFT has successfully demonstrated to deliver both strong financial returns and substantial, measurable social impacts. The project has contributed to building awareness in the private sector of the need and opportunity to invest in climate adaptation and resilience solutions