The “Transforming Climate Finance Day” aims to bring together stakeholders from different sectors and with different responsibilities to discuss investment opportunities and needs, explore the different sources of financing and conceive required technical and capacity enhancement support.
Water continues to be the first adaptation area prioritized in national updated NDCs. Measures for enhancing availability, efficiency and quality of water supplies including enhancing or building water infrastructure and water resource plans, strategies and systems are listed in 87% of the NDC adaptation components1. However, most of these measures are not prepared to be packaged into bankable investments and ready for financing and implementation.
At the same time, the first synthesis report of the Global Stocktake slated to conclude during COP28 revealed that collective progress on adaptation is not yet sufficient to protect communities and ecosystems from increasingly frequent and intense impacts and must undergo a step change in fulfilling the ambition laid out in the Paris Agreement. The synthesis report calls for a rapid adaptation finance scaling up from expanded and innovative sources.
The Day events will offer also a platform to showcase innovative solutions and success stories to inspire stakeholders towards increasing the amount and effectiveness of funds for water climate resilience and share recommendations that can be brought to the attention of decision-makers and the formal processes of UNFCCC Conference.
The events organized during the Transforming Climate Finance Day are diverse and target a large group of water stakeholders. These are water managers, planners from ministries of water, development and finance, water utilities, knowledge hubs, think tanks, climate finance donors, and high-level decision makers.
Non-water stakeholders will be primarily representatives from the ministries of environment, development planning, sectoral stakeholders (i.e. agriculture) and finance.
