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Climate finance refers to funding channelled by national, regional and international organisations for climate change mitigation and adaptation projects and programs.
The Climate Finance Roadmap 2016-2020 was developed in 2016 and builds off discussions during UNFCCC COP22, the 1st Climate Finance Forum in Port Vila, and other high-level stakeholder consultations. It was endorsed by the National Advisory Board on Climate Change and Disaster Risk Reduction (NAB) in April 2017.
The purpose of the roadmap is to better guide the Government in mobilising climate finance to address national priorities. The roadmap will focus on increasing access to climate finance, building capacity at all levels of society to adapt to the impacts of climate change, and enhancing coordination between the Government and other stakeholders, such as development partners and the private sector.
The six policy objectives of the Climate Finance Roadmap are as follows:
1. Access to Climate Change Finance: Vanuatu has access to direct and indirect new sources of climate and disaster finances to adapt to and mitigate the impacts of climate change
2. Capacity Building: National, provincial and community capacity strengthened to manage the impacts of climate change and disasters through new tools, systems, knowledge and approaches
3. Prioritisation: Ensuring allocation of resources is based on real vulnerabilities, gaps and needs
4. Awareness and Communication: Increased awareness on accessing and implementing climate (and disaster) finance at the national, provincial and community levels
5. Coordination: Enhanced coordination with NGOs, CSOs and local communities to access and implement multi-sectoral, innovative approaches in addressing climate and disaster risks
6. Project Management: Project Management Capacity at the national and provincial levels are strengthened to address multi-sector & sectoral responses to climate change and disaster risks by end of 2020
Please refer to the Climate Finance Roadmap for further details.
The Outcomes of the 2016 Climate Finance Forum document is accessible here.