Climate Finance Access Hub

The Commonwealth’s Climate Finance Access Hub supports small and vulnerable states to access sources of climate finance to meet their priority adaptation and mitigation needs and realise their sustainable development goals. The Hub helps countries to develop transformative projects required to access funds and support institutional capacity to deliver on climate finance.

Innovation Summary

Innovation Overview

Small and vulnerable developing countries require a significant amount of funding to address climate change especially as they are already experiencing the adverse impacts such as sea level rise, increased extreme weather and natural disasters. Some funds have already been provided by the international community through funding institutions such as the Green Environment Facility (GEF) and Adaptation Fund (AF). Unfortunately, small and developing countries find it extremely difficult to draw on these funds, due to lack of technical capacity and the complex processes and requirements involved. This is evident in the slow pace of disbursements from international institutions such as the Green Climate Fund (GCF).

The Commonwealth is therefore helping member states to access urgently needed funding, by strengthening national capacities through placement of experts under the Commonwealth’s flagship Programme, the Commonwealth Climate Finance Access Hub (CCFAH). In 2013, the Expert Group on Climate Change examined how the Commonwealth can best assist its developing country members to build resilience. Expert Group proposed the establishment of the Climate Finance Access Hub (CFAH) to provide long-term capacity development and establish a platform for Commonwealth North-South and South-South cooperation. The CFAH was then endorsed at the 2015 CHOGM in Malta and launched in 2016 with initial seed funding from the Government of Australia, the Commonwealth Secretariat and in-kind contributions from the Government of Mauritius.

In its short time of operation, the Hub has already recorded remarkable results, mobilising a total of has supported Commonwealth countries secure USD$28 million of climate finance to date and there is another USD$460 million in the pipeline. The programme has provided technical assistance to ten Commonwealth countries with plans to support an additional ten countries over the coming months.

Innovation Description

Innovation Development

Innovation Reflections

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Year: 2016
Level of government: National/Federal government

Status:

  • Implementation - making the innovation happen
  • Diffusing Lessons - using what was learnt to inform other projects and understanding how the innovation can be applied in other ways

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