According to the latest updates, developed countries are not on track to fulfil their Paris Agreement commitment to mobilize $100 billion a year in climate finance for developing countries that came into effect in 2020. Specific efforts to mobilize private finance in developing countries have also stalled. In addition, adaptation continues only receive approximately one quarter of total public climate finance. This leaves the Paris Agreement commitment to balance funding between mitigation and adaptation unmet while the impacts of climate change are felt now, particularly by the most vulnerable countries and communities. It is in these countries where access to basic services such as water, sanitation, and hygiene (WASH) are the lowest, especially in rural areas.
This conversation will position WASH where it belongs as a part of comprehensive resilience packages and plans. It will do that by highlighting the cost benefits of building the resilience of infrastructure assets and basic social services such as water supply, sanitation and hygiene in low- and middle-income countries, by explaining how climate-resilient WASH aligns with and feeds into broader climate rationale in countries, and by discussing new avenues to team up and work with financiers and the private sector.
Further info at:
https://www.waterforclimate.net/meetings/virtual/payzBcgNatrJo24dE