Climate finance to support adaptation of basic services and build community resilience: water, sanitation and hygiene
Published on: 29/10/2021
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.
Imbalance is not only present between mitigation and adaptation, but also within the adaptation space itself: within the water sector, it is estimated that only one tenth of climate finance for water-related projects is linked to the adaptation needs for basic WASH, accounting for just 0.3% of total global climate finance (WaterAid – ODI 2020). This dearth of finance is a critical stumbling block on the path to community climate resilience.
In 2021, SWA, in partnership with key allies, led a series of evolving discussions to identify and solve barriers to financial support for WASH adaptation needs in countries impacted by climate change. This includes a set of global webinars launched in May, and a session at World Water Week.
Building on these discussions, this event will open the finance-focused day at the Water and Climate Pavilion by reminding the participants and attendees that these Paris Agreement commitments are OUR common targets – not something that others are failing to fulfil. We have a shared responsibility to come together, think differently, and pool our collective resources to deliver against our commitments: to raise the ambition needed to mobilize USD 100 billion per year, and to achieve a balance between adaptation and mitigation in that mobilization.
This event is planned to be virtual through the Water Pavilion and open YouTube live broadcasting.
