The UN announced yesterday the launch of a website to help developing countries make sense of the multiple funds available to finance climate change-related needs. It estimates that developing countries will require as much as $100B a year for adaptation to climate change and $175M for mitigation by 2030.
The World Bank Group and the UN Development Programme jointly developed the web-based knowledge platform in close cooperation with the UNFCCC Secretariat. The Climate Finance Options (CFO) web platform, envisioned as the go-to site for information on climate finance, will help identify critical sources of funding to combat climate change.
The CFO analyzes the types of funds available, how much is available for what, the criteria for accessing them, and how they are administered. It also provides examples of successful cases in which different funds were blended to get maximum impact and will lead to greater efficiency in climate finance transactions, faster deployment of mitigation and adaptation projects, and better coordination between the UN system, development banks and the private sector.
The CFO is available at http://www.climatefinanceoptions.org/cfo/.