Friday, February 21, 2014

Climate Change Finance: Better use of Climate Finance

An easy to understand concept of Climate Change Finance, its management and recommended directions to better manage it.

Countries are increasingly looking at how climate change is reflected in their own national budgets and expenditures. While the debates continue internationally about who should cover the costs of reducing carbon emissions or adapting to climate risks, developing countries themselves are also responding to climate change by examining more closely their own domestic resources from their own existing budgets.

UNDP has begun working with countries in Asia to help them undertake a Climate Public Expenditure and Institutional Review. This means they are looking through their national budgets to identify where climate change is already influencing allocations. With a better understanding of exactly how much and where existing national budgetary resources are going, more informed choices can be made about how and where to channel additional resources for countries to prepare for the effects of climate change.

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