Calling for Business Unusual: Reforming Climate Finance

  • Date Posted: April 14, 2021
  • Authors: Clare Shakya, Marek Soanes, Barry Smith
  • Organizations/Projects: International Institute of Environment and Development (IIED)
  • Document Types: Primer or Brief
  • Donor Type: Non-Governmental Organization

 

17736IIED

The climate finance system is failing to respond to the triple crises of poverty, climate and nature. Going further and faster on climate action requires a whole-of-society response and more, and better climate finance that reaches local levels. So, what needs to change? This briefing sets out some principles for reforming the current climate finance system. These will help strengthen the quality of outcomes by incubating the delivery mechanisms needed to: provide climate advice and investment behind local priorities, help enterprises pivot towards climate-positive production and enable grassroots and civil society actors to work with communities to develop their own solutions. With the right support, governments can strengthen their institutions to incentivise robust, climate-informed decisions across society, enable convergence across delivery mechanisms, improve accountability and learn what works.

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