Toolkit to Enhance Access to Climate Finance: A Commonwealth Practical Guide

Developing countries continue to grapple with challenges in effectively accessing climate finance to support resilience efforts in meeting their targets for nationally determined contributions (NDCs), implementing national adaptation plans (NAPs) and addressing loss and damage due to climate change.

Whilst the 2021 United Nations Climate Change Conference (COP26) saw progress made towards delivering the USD 100 billion climate finance goal by 2023 at latest, and countries agreed on a way forward for the new post-2025 climate finance goal, this remains inadequate as annual adaptation costs in developing economies are estimated to reach between USD 155 to USD 330 billion by 2030.