Bridging the Gap: Making Climate Finance Work for the Underserved

In line with the COP28 Declaration on Climate, Relief, Recovery and Peace, the high-level side event will unite global climate and development leaders to align efforts, share progress, and co-develop solutions for scaling climate finance in underserved climate-vulnerable settings, with a focus on conflict-affected Least Developed Countries and Small Island Developing States.

This event will bring together leaders from climate finance institutions, national governments, and multilateral agencies to explore how to scale and tailor climate finance for countries that are highly vulnerable to climate change and affected by conflict and a high level of humanitarian need.

The discussion will spotlight the Improved and Equitable Access to Climate Finance Network for countries affected by climate change, conflicts, and high levels of humanitarian needs, chaired by Chad and comprising Burundi, Iraq, Sierra Leone, South Sudan, Somalia, Timor-Leste, and Yemen. The Network provides a platform to share experiences and advocate for solutions tailored to the realities of climate-vulnerable settings affected by conflict and a high level of humanitarian need. Chad, speaking on behalf of the Network, has expressed interest in deepening collaboration with the Climate Security Mechanism (CSM) and work jointly towards strengthening access to finance.

The panel will also include perspectives from the African Development Bank, the Green Climate Fund, the Fund for responding to Loss and Damage, and key UN actors, highlighting opportunities to bridge the gap between global climate finance efforts and the realities of underserved countries.