Leadership Required: Ensuring Local Communities Benefit from Climate Finance

Leadership Required: Ensuring Local Communities Benefit from Climate Finance

Source: Blog RECOFTC

A vicious cycle exists in the financing of climate change activities. So said Myrna Cunningham, president of the UN Permanent Forum on Indigenous Issues, during the opening session of the 2012 Climate Investment Fund Partnership Forum in Istanbul, Turkey (November 6-7, 2012). Financiers of climate compatible development activities, particularly the private sector, require deliverables to be met and view the limited capacity typical of rural communities as reasons to circumvent them and engage with ‘higher capacity’ actors. The opening session of the Forum underscored the need for climate financing investments, by banks and by the private sector, to be profitable.

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