The climate finance landscape is complex and challenging. Funds are available to support climate change mitigation and adaptation, but small and vulnerable Commonwealth countries, which often face the most serious impacts of climatechange, have limited capacities and experience significant barriers to accessing these funds.
In 2013 the Commonwealth Expert Group on Climate Finance identified the complex and crowded climate finance landscape as one of the main bottlenecks preventing the scaling up of climate finance for developing member countries. Member countries often face capacity and resource constraints that mean they cannot secure and optimise access to climate funds. Moreover, with an estimated increase in annual climate finance of at least 590 per cent required to meet internationally agreed climate objectives by 2030 and to avoid the most dangerous impacts of climate change, CCFAH is a direct response to the 54-member Commonwealth family’s need for support if we are to overcome these challenges together.
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