Enhancing access to climate finance for small island developing states
12:00 - 13:00 (AST) at the Interactive Dialogue Room, Fourth International Conference on Small Island Developing States, American University of Antigua, Antigua and Barbuda
27 May 2024
Small island developing states (SIDS) are an exceptionally heterogeneous group of countries. But they all have one thing in common: they are highly vulnerable to the effects of climate change. SIDS face numerous climate threats, including rising temperatures, changing precipitation patterns, flooding, drought, reduced availability of fresh water, coral reef decline and sea level rise. SIDS suffer inordinately more from climate change than they contribute to it through greenhouse gas emissions.
In the context of climate finance, SIDS have repeatedly called for prioritized international support for adaptation and mitigation activities that account for their unique circumstances and capacities and were a key exponent in establishing the Green Climate Fund (GCF) under the UNFCCC’s finance mechanism.
Since becoming operational in 2015, GCF has grown to be the world’s largest dedicated multi-lateral climate fund, with over USD 1.6 billion of its investments (12% of its portfolio) and USD 154.7 million in capacity development grants approved in SIDS, but more must be done.
SIDS’ limited capacities subjects them to a disproportionately high burden when navigating climate funds’ one-size-fits-all approach to accessing resources. Responding to calls from its stakeholders, and in collaboration with other multi-lateral climate funds, GCF has embarked on an ambitious reform agenda to increase its efficiency, in part by lowering barriers and enhancing access to climate finance for those on the front lines of climate change.
Co-hosted by the Green Climate Fund, the Government of the Dominican Republic and the Government of the United Kingdom, this event in the margins of the SIDS4 Summit will assemble high-level representatives from SIDS and a diverse range of stakeholders to discuss how to strengthen GCF’s climate impact in SIDS.
High Level Remarks - The Future Architecture of Climate Finance Needed to Deliver on SIDS Climate Ambitions.
This Dialogue among High Level Representatives from SIDS, Climate Fund Contributors and the Green Climate Fund, will invite speakers to discuss the role of climate funds to convene knowledge and experience, forge partnerships and mobilize greater investment to achieve the impact needed.
The format of the dialogue will be a moderated panel discussion with 2-3 questions from the stage.
Invited speakers include:
- Hon. Mr. Mark Brown – Prime Minister of the Cook Islands
- Ms. Mafalda Duarte - Executive Director of the Green Climate Fund
- Mr. David Rutley - Minister of State in the Foreign, Commonwealth & Development Office (FCDO), United Kingdom
- Ministerial Participation from the Dominican Republic