Going local: fast tracking climate finance to the most vulnerable
To respond to the impacts of climate change, developing countries need climate finance in the right quantities, delivered at the right speed. Finance is being channelled to local communities to some extent, but it’s neither enough nor at the pace needed by the poorest, most vulnerable nations. At the same time, most climate finance is being invested in large-scale projects that take considerable time to design, finance and deliver; this is slowing climate action further.
Drawing on our experience of more than 25 years of work on local finance, IIED is building international awareness of the benefits of decentralising finance, and strengthening local capacities to access and manage those resources.