UK engineering and consulting group Ricardo discussed innovative approaches to unlocking climate finance at side events held at the UN COP23 meeting in Bonn, Germany, over the last two weeks.
Ricardo is supporting several parties to the Paris Agreement to mainstream their climate commitments with their economic goals, and to obtain the funding required to achieve climate change and national development ambitions.
At panel discussions and presentations surrounding COP23, Ricardo’s policy teams shared their experiences of providing direct in-country support to strengthen nations’ climate finance readiness and initiatives to unlock climate finance such as the Climate Finance Accelerator.
The CFA is an approach to develop public-private financing solutions for climate change mitigation and adaptation projects achieved by bringing together participant countries and finance experts, to develop financing propositions for nationally determined contribution (NDC) projects and an action plan to secure investment.
Emelia Holdaway, Ricardo’s manager for international climate change policy, said: "All signatories to the Paris Agreement face the challenge of converting an NDC into a project pipeline and then securing finance for those projects. That is why it is so important that we work together to support countries to develop concrete and bankable climate proposals."
Some of the countries supported by Ricardo in the development and implementation of their climate commitments include India, Rwanda, Nigeria and Thailand (EA 12-Oct-17).