What we did
Rapid urban growth requires integrated climate action and a stronger focus on climate change adaptation and resilience. However, a significant technical and financial gap (staff capacity, knowledge, access to resources, etc.) hinders the need for action by subnational governments to promote urban transformation and develop robust and comprehensive climate strategies that will guide local implementation, especially when the problem remains two-sided. On the one hand, financiers are hesitant and reluctant to invest in adaptation projects, which are long-term commitments with no or very low return on investment. On the other hand, there are funding sources and tested innovative solutions available, but local and regional governments, mainly from the Global South, are limited in technical and financial capacities to explore and access these. In order to support the development and implementation of their climate-resilient projects, it is necessary to guide and orient them to a better understanding of planning and equip them with tools and knowledge that enable local governments to access technical and financial assistance.
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How we tracked
10 global cities to complete the pilot training course and a written report outlining the learnings.
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What we achieved
The AdaptFin training course on adaptation finance supports cities in incrementally progressing a project towards financing and implementation. Tailored based on needs identified by cities, the course will provide both a broad overview of the financial architecture, instruments and mechanisms, as well as a deeper dive into project financing. By learning terminology and available sources and tools regarding adaptation finance, and through a practical exercise, embedded in the course material, participants will have enhanced capacity to identify gaps in the resources required, such as data and information, and actors that can support local efforts. As an end result, attendees will be able to conceptualize bankable projects, hence getting more chances to mobilize capital and technical assistance.
To close this gap, the hands-on project will:
i. Enhance knowledge on standard requirements to structure proposals and identify where the main challenges are;
ii. Use informative documents and examples to offer a better understanding of planning and financing, mechanisms, and tools to design and implement urban adaptation projects towards resilient development.
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