Ministers Gear up for COP27 with Commitment to Use Paris Agreement to Boost Access to Adaptation Finance

Ministers Gear up for COP27 with Commitment to Use Paris Agreement to Boost Access to Adaptation Finance

The launch of a 17-signature Ministerial Declaration calling for recognition of the Local Climate Adaptive Living Facility as an existing Non-Market Approach under the Paris Agreement in New York today could, say ministers, unlock significant additional climate finance for adaptation to the impacts of climate change. The declaration, made by some of the world’s most vulnerable nations to the impacts of climate change, follows recent commitments from COP27 hosts Egypt to make November’s climate conference an opportunity to focus on implementation rather than further negotiation of existing texts and agreements.

The document, launched at the event ‘Making Paris Work for the People: Adaptation at scale in climate vulnerable nations’, is signed by some 17 ministers from LoCAL-participating countries and brings together a series of joint commitments to increase the total climate finance available to climate change vulnerable nations. Signatories represent countries dealing with some of the worst impacts of climate change but with limited resources to adapt.

“The Local Climate Adaptive Living Facility is a proven finance mechanism, a solution that is already being implemented,” said Hon Prof. Wilson K. Tarpeh, Executive Director and Chief Executive Officer, Environmental Protection Agency in Liberia. at today’s event ‘Making Paris Work for the People’, part