Financing long-term strategies: are least developed countries and funders aligned?
This event on Tuesday, 19 October explored whether expectations from LDCs are being met for climate action in the form of long-term strategies and climate-finance delivery.
The Paris Agreement invited countries to formulate and communicate ‘long-term low greenhouse gas emissions development strategies’ (LTS). But it's not prescriptive on what a long-term strategy should look like, so countries must determine what suits them best in terms of both content and process.
Such uncharted territory poses a unique challenge for least developed countries (LDCs). While several LDCs are in the process of developing their LTS (with one UNFCCC submission so far), the practice, politics and research around long-term strategies is woefully lacking in featuring the LDC experience – dominated so far by major emitters and emerging economies.
To make the LDC experience more prominent in mainstream LTS research, it is vital to gather input and perspectives from LDCs and other stakeholders (such as development partners) on what is needed to address LDCs’ unique challenges in developing the LTS.
Exploring financing specifically for long-term adaptation and resilience efforts will be important. LDCs are not solely focusing on mitigation activities in the LTS, but just as prominently on enhancing adaptive capacity, strengthening resilience and reducing vulnerability. As LDCs strive to achieve development priorities, long-term strategies can provide the framework for doing so sustainably over decades to come.
In addition, there are a number of related processes gathering pace that could further promote the need for long-term funding strategies, including the newly established Taskforce on Access to Climate Finance (PDF) and the principles for locally led adaptation that have been endorsed by more than 55 organisations and governments. The need for long-term funding was also highlighted by LDCs at the Climate and Development Ministerial hosted by the UK in March 2021.
It is essential these processes take stock of and reflect the experience of LDCs and their experience with long-term strategies.
A strong and stable climate finance architecture is key to delivering the scale of resources required to achieve countries’ long-term strategies. But are the priorities and needs of LDCs aligned with these international finance institutions?
Reflecting on trends for LTS financing, this event will explore whether expectations from LDCs and development partners/multilateral development banks are being met for climate action in the forms of long-term strategies and climate finance delivery.
The webinar captured a diversity of experiences and analyse lessons from across the LDC Group. This enabled deeper understanding and awareness of best practice for LTS development and implementation in LDCs. This also built the experience on LTS and foster cooperation to support LDCs commencing the LTS process.
Even more, in the rapidly changing context of the coronavirus global pandemic, the LTS can serve as a guide to development pathways post-COVID-19 that are resilient, sustainable and just. This situation can be linked to climate change co-benefits, and the LTS can pave the way for that response.
About the speakers
- Isatou F. Camara is a deputy director in the Gambian Ministry of Finance and Economic Affairs. She has 10 years’ experience in development planning and has been negotiating outcomes on climate finance for the least developed countries under the UNFCCC since 2014
- Alpha Jallow is director of the climate change secretariat and UNFCCC focal point in The Gambia’s Ministry of Environment, Climate Change and Natural Resources
- Davinah Milenge Uwella is the principal programme coordinator at the African Development Bank
- Neha Mukhi is senior climate change specialist at the World Bank
- Cynthia Elliott is an associate for the global climate program at the World Resources Institute
- Clare Shakya (moderator) is director of IIED’s Climate Change research group