The Commonwealth’s Climate Finance Access Hub helps countries untangle the red tape around climate financing, and make successful applications to the international funds that address climate change.
Climate change funding has already been provided by the international community through funding institutions such as the Global Environment Facility and Adaptation Fund. Unfortunately, small and developing countries find it extremely difficult to draw on these funds, due to their lack of technical capacity and the complex processes and requirements involved.
The Commonwealth is therefore assisting member states to access urgently needed funding, by strengthening national capacities through the placement of experts under this flagship programme.
In its short time of operation, the Hub has already recorded remarkable results for Commonwealth countries, securing a total of USD$28 million of climate finance with another USD$460 million in the pipeline. The programme has already provided technical assistance to ten Commonwealth countries with plans to support another ten countries over the coming months.