Climate adaptation projects can be tough to finance, particularly in Global South cities, where almost no city climate programme funds are for adaptation. Earlier this year, the Intergovernmental Panel on Climate Change underlined the necessity, but concerning slow-pace, of climate adaptation to brace for the implications of the climate emergency.
This new funding from USAID will add to already record levels of investment in climate finance for cities in the Global South announced last October. Thanks to their contribution, the CFF can now work on up to two additional projects focused specifically on climate adaptation in sub-Saharan Africa.
The CFF advises partner cities on how to structure and mobilise public and private finance for inclusive and equitable climate change mitigation and adaptation projects in Global South cities. CFF’s portfolio now has 18 projects, six of which are adaptation-related.
USAID has previously played a pivotal role in supporting the CFF by funding its initial project phase in 2016. Detailed information about the successfully implemented pilot projects in Bogotá, Durban, and Mexico City can be found here: https://www.c40cff.org/knowledge-library/past-projects-of-the-cff.
Read the USAID announcement:https://www.usaid.gov/news-information/press-releases/jun-26-2023-usaid-supports-new-climate-adaptation-projects-c40-cities-finance-facility.
Learn more about the CFF’s current project portfolio here: https://www.c40cff.org/current-projects.