What can local financing bring to funding mechanisms for adaptation?
SESSION DESCRIPTION FINANCE FORUM D5 What can local financing bring to funding mechanisms for adaptation? Panel discussion Date: Tuesday, 9 June 2015 Time: 14:30-16:00 Rooms: S30-32 Language: Contact: E-mail/web: Organized by: English Sabrina Archambault [email protected] Agence Française de Développement (AFD) OBJECTIVE The session demonstrated the relevance and role of local and national financial institutions’ dedicated funds as direct or indirect providers to finance municipalities’ climate-resilient investments. The session firstly provided an overview on the main funding mechanisms that cities can mobilize to finance their adaptation projects. This overview was based on the experiences of different local financial institutions from Latin America. OUTCOMES Participants left the session with: Knowledge on a typology of the different financing instruments for cities to finance adaptation projects; An increased understanding of the intermediated financing including existing practices of local financial institutions, barriers and leverage effects; and Recommendations towards a course of action for cities – to be directed at local finance institutions in order to maximize the deployment of climate finance in favor of local governments. METHODOLOGY AFD opened the session with a short introduction of (i) himself, (ii) each speaker, (iii) AFD’s activities in supporting local financial institutions (5 minutes) Each speaker (CDC Climat/ BDMG/ CAF) was given time to describe their work, showing maps or other illustrations as needed (3 x 10 minutes) The remainder of the session was organized around the guiding questions, with each panelist given time to respond to individual questions, and to respond to comments made by other panelists (25 minutes) The facilitator managed questions and answers from the audience (25 minutes) The facilitator concluded with closing remarks (5 minutes) Guiding questions 1. What is the added value of local financial systems to finance climate-resilient investments? 2. What kind of support is provided to cities? 4. What are the conditions for cities (institutional, technical, financial etc.) to have access to local financing? 5. What kind of adaptation projects are being financed? CONTRIBUTORS Facilitator Clément Larrue, Lead Specialist on Cities and Climate Change, Agence Française de Développement, Paris, France Panelist Alexia Leseur, CDC Climat Research, Research Unit Manager “Subnational climate actions”, Paris, France Review of the main sources of financing for cities to back their adaptation projects Panelist Panelist Claire Eschalier, Research Fellow, CDC Climat Research, Paris, France Marco Aurelio Crocco Afonso, CEO, Development Bank of Minas Gerais (BDMG), Belo Horizonte, Brazil Presentation of BDMG’s strategy in supporting local authorities in financing their climate resilient projects Panelist Ubaldo Elizondo, Principal Executive, Environment and Climate Change, CAF Development Bank of Latin America, Caracas, Venezuela The role of a multilateral regional development banks in supporting the emergence of urban climate resilient projects and their implementation with appropriate financing and support Further recommended reading Johannesburg GDS 2040: http://www.joburg.org.za/gds2040/gds2040_strategy.php
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