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Promoting resilient cities through climate change adaptation and innovative finance - WUF10 (8-13 February 2020, Abu Dhabi, UAE)
12 Feb 2020 -  Today, 55% of the world’s population lives in urban areas. By 2050 another 2.5 billion people will be added to urban areas, which will be 68% of the world’s population, mostly in Africa and Asia. Population growth and climate change bring significant challenges to urban resiliency, such as insufficient or ineffective infrastructure and more frequent disasters.

Local authorities, both rural and urban, are increasingly seen as key in the promotion of climate change adaptation and in building resilience to climate change at the local level. They are in a unique position to identify the climate change adaptation responses that best meet local needs, and typically are mandated for a range of a climate sensitive sectors. Yet, they frequently lack the resources to fulfill this mandate – especially in a way which is aligned with established decision-making processes and public planning and budgeting cycles.

This session will focus on innovative approaches for local authorities to access climate finance and how to leverage climate finance and inter-governmental fiscal transfers for blended finance. The session will discuss the challenges LDC local authorities and cities face in financing climate change adaptation, innovative municipal finance instrument options, while sharing best practices from selected countries.

Emphasis will be given to UNCDF’s Local Climate Adaptive Living (LoCAL) facility, which is an internationally recognized, country owned financing mechanism that promotes climate-resilient communities and local economies by increasing investments in climate change adaptation at the local level in the least developed countries. Since 2011, LoCAL has been deployed across 14 countries and over 280 local governments, with 7 additional country initiatives under preparation and demand increasing recently.

The event will also highlight the Boosting Green Employment and Enterprise Opportunities (GrEEn) programme being funded by the European Union, which aims at creating employment and enterprise opportunities in selected regions of Ghana by channeling finance through performance-based grants to selected Metropolitan, Municipal and District Assemblies (MMDAs). The overall objective of the programme is to contribute to addressing the root causes of irregular migration through green and climate resilient local economic development and to improve prospects of beneficiaries, by increasing access to finance of returnees, youth and women, in selected regions.
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