What you need to know
Climate change is a water crisis, but is that reflected in funding solutions?
Published on: 31/10/2024
Global climate finance investments are far from the scale they need to be. This is especially true for the investment of climate finance into water and sanitation.
With over 90 per cent of natural disasters being water-related weather events, water is the primary means through which we feel the effects of a changing climate. Yet only 0.3 per cent of global climate finance goes to water supply and sanitation.
This highlights the urgent need to raise our voices on the issue to leaders, funders and other actors with formal decision-making power. Likewise, we need to better communicate and articulate the connections between water, sanitation and climate resilience, champion and evidence its position as a valid climate adaptation and mitigation measure.
When it comes to climate finance for water and sanitation, here's what you need to know:
Global climate finance targeting basic (and climate-resilient) water supply and sanitation specifically, accounts for just 0.3 per cent of global climate finance investments.
Although climate funds are a welcome new source of finance. The mechanisms to unlock them are complex and require a lot of resources and evidence. Luckily, climate finance is more than climate funds and there are some promising alternatives.
Climate finance investments need to take a systems approach, funding and expanding its investments beyond just capital expenditure if it wants to contribute to meaningful change.
While climate change affects everyone in society, its impacts are not equally shared. Water supply and sanitation systems in lower income countries are not only weaker, but also more vulnerable to climate impacts. What's more only 2% of global climate finance was directed to least developed nations and worse yet, adding another layer of burdensome, crippling debts.
Learn more about the issue by taking our latest WASH Systems Academy course: Climate finance: the basics.
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