Closing adaptation finance gap can make millions resilient against climate change – Oxfam

Climate negotiators from Asia urged to put small scale farmers and food producers at top of agenda of COP22

Since the Paris Agreement commenced barely a year ago, ninety four (94) countries – accounting for at least 55% of global greenhouse gas emissions – have ratified to the United Nations Framework Convention on Climate Change (UNFCCC). This fortnight, the 22nd Conference of Parties (COP 22) to the UNFCCC in Marrakech, Morocco, is tasked to set the rules on how to implement and chart progress on what has been agreed in Paris.

International non-profit Oxfam calls on developed countries to keep their pledge to allocate resources that will help vulnerable people in the region to adapt and build their climate resilience.

The real challenge lies in ensuring that the agreement is able to avert catastrophic climate change and enhance climate resilience, especially among the poor and most vulnerable. “The need for concrete actions to cut greenhouse emissions and provide climate finance to support climate adaptation in developing countries, is very important and urgent for small scale farmers and food producers in Asia, where the agricultural sector is heavily affected by climate change,” said Qaiser Arafat, Oxfam Asia’s GROW Campaign Lead.

It is projected that climate change will put around 49 million more people in the Asia/Pacific region at risk of hunger by 2020.[i] According to UNEP, by 2030, adaptation can cost developing countries USD140 to USD300 billion per year. Only 16% of international climate finance goes to adaptation, and for this, only USD4 billion to USD6 billion comes from public finance. The gap in available climate finance for adaptation is expected to grow even bigger.

“Climate negotiators from Asia must take the lead in ensuring that there is progress in the way developed countries report and count adaptation finance in order to promote greater transparency and accountability in the latter’s commitments. They should promote standards and practices to make sure that climate finance goes to projects that truly respond to the adaptation needs of vulnerable people, especially small scale farmers,” said Arafat.

“A meaningful mechanism to increase adaptation finance is necessary so that developing countries do not have to divert much needed resources intended for essential services in development and poverty alleviation to addressing climate impacts.” he added.

[i]  Climate Change Impacts on the Asia/Pacific Region available at https://www.ifad.org/documents/10180/88baa1cf-4661-4077-9292-84dfff5253f0