Achieving the LDC 2050 vision of climate-resilient people, economies and ecosystems requires a scale-up of delivery on the ground, but also significant reform of the multilateral system. LIFE-AR is capturing learnings from delivery experiences in Least Developed Countries (LDCs) to reshape the climate finance architecture, and to ensure operations, procedures and systems meet their unique needs.
A collaborative effort across all stakeholders in the climate finance chain is essential to redefine how LDCs access and utilise funds for the benefit of communities. These stakeholders include climate funds such as the Adaptation Fund, Green Climate Fund and Global Environment Facility, as well as development partners who provide bilateral and multilateral funding for climate action.
Reforming the ‘rules of the game’
Through LIFE-AR, LDCs are demonstrating the positive impacts of identifying adaptation action and delivering climate finance with the LDC Asks and Offers. The initiative is gathering and analysing these experiences to influence the ‘rules of the game’ when it comes to global adaptation finance processes. This involves providing evidence to LDC negotiators at UNFCCC COPs, collaborating with climate funds to build their capacity and understanding of LDC challenges, and strengthening long-term partnerships with development partners to test and refine improved financing models.
Globally, there are several efforts and initiatives working to improve adaptation outcomes in LDCs. LIFE-AR allows the LDC Group to showcase what works best for member countries, demonstrating the ‘Business Unusual’ approach and advancing the movement for Locally Led Adaptation. LIFE-AR demonstrates how countries can take their own approaches to national and community ownership of adaptation efforts, by fostering a whole-of-society approach and building partnerships for the long term.
As a group of coordinated LDC countries, national and global representatives actively share LIFE-AR approaches and success stories in key forums where LDCs can shape the agenda. Through the Climate and Development Ministerial, the Coalition of Ambition on Adaptation Finance highlighted goals like country ownership, simplified access, and scaling up adaptation finance. LIFE-AR is recognised as a pivotal initiative aligned with these goals.
Changing processes throughout the climate finance chain
The focus of the initiative is not just on how LDCs are pioneering new pathways for adaptation and resilience. LIFE-AR also invites development partners to join LDCs in this transformative journey by embracing the LDC Asks outlined in the Partnership Compact for the LDC 2050 Vision. Progressive development partners are already adopting improved approaches to adaptation finance and using LIFE-AR as a model to share within the donor community and across other platforms.
Together, as LDCs and development partners bound together by the Partnership Compact, LIFE-AR is demonstrating how innovative approaches can meet LDCs’ adaptation needs and reshape the goals and processes of climate funders. The LDC Group is at the forefront, generating evidence and applying learnings internationally to provide a proof of concept for a more responsive and effective international climate finance architecture.
Capturing learnings from delivery experiences in Least Developed Countries (LDCs) to reshape climate finance architecture
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