All Climate Events
Webinar: Enhanced Direct Access to climate finance
Friday, 01 July 2022, 10:00
Friday July 1, 2022. 10:00AM EDT. Webinar: Enhanced Direct Access to climate finance. Sponsored by the International Institute for Environment and Development. Register here.
Join this online workshop, as part of London Climate Action Week, to hear lessons shared by entities that have managed the Enhanced Direct Access approach to accessing climate finance.
There is a significant need for climate finance to reach the local level so that communities, sub-national entities and local NGOs are equipped to act on their own priorities to adapt to climate change.
Climate funds like the Green Climate Fund (GCF) are a crucial source of finance under the Paris Agreement, but the process of gaining accreditation, developing project proposals and gaining approval is prohibitively long.
A process called Enhanced Direct Access describes a way in which countries can claim some decision-making power back from the board of the GCF and from the Adaptation Fund. Under Enhanced Direct Access, a national or sub-national entity that has direct access to the funds can make allocation decisions about sub-projects themselves.
Effectively the role of the fund becomes providing finance to tackle a given climate issue through an agreed-on methodology, while leaving the entity in the country to decide where to allocate the money.
Getting this set up is no easy task, and becoming accredited to the funds so that entities can access finance directly without going through an intermediary is a huge challenge in many countries.
This London Climate Action Week event on Friday, 1 July will bring together a panel of experts from entities that have managed the Enhanced Direct Access approach, capitalising on the lessons they've learned and what they wished they knew at the start.
They will discuss challenges and how to overcome barriers to access – highlighting their lessons in planning for EDA, getting accredited to the funds, and project development and implementation.