The launch of a 17-signature Ministerial Declaration calling for recognition of the Local Climate Adaptive Living Facility as an existing Non-Market Approach under the Paris Agreement in New York today could, say ministers, unlock significant additional climate finance for adaptation to the impacts of climate change. The declaration, made by some of the world’s most vulnerable nations to the impacts of climate change, follows recent commitments from COP27 hosts Egypt to make November’s climate conference an opportunity to focus on implementation rather than further negotiation of existing texts and agreements.
The document, launched at the event ‘Making Paris Work for the People: Adaptation at scale in climate vulnerable nations’, is signed by some 17 ministers from LoCAL-participating countries and brings together a series of joint commitments to increase the total climate finance available to climate change vulnerable nations. Signatories represent countries dealing with some of the worst impacts of climate change but with limited resources to adapt.
“The Local Climate Adaptive Living Facility is a proven finance mechanism, a solution that is already being implemented,” said Hon Prof. Wilson K. Tarpeh, Executive Director and Chief Executive Officer, Environmental Protection Agency in Liberia. at today’s event ‘Making Paris Work for the People’, part of the Climate Week NYC programme of activities and a side-event to the UN General Assembly.
“Let’s work together at COP27 for the adoption of LoCAL as an existing Non-Market Approach to scale up and boost access to climate finance, as laid out in this Ministerial Declaration…With our joint cooperation, let’s work together to ensure that the Local Climate Adaptive Living Facility is included in the outcome document from COP27 in Egypt. And ensure that this COP, the “Africa COP”, is a COP of solutions,” added Hon Prof. Wilson K. Tarpeh.