Green Climate Fund must think micro for macro impact
Developed countries have committed to raising US$100 billion a year by 2020 to support mitigation and adaptation in developing countries.
The Green Climate Fund (GCF) seems set to become the largest vehicle for disbursing and/or leveraging this climate finance.
In November 2015, the Board of the GCF approved its first group of projects.
One of these projects proposes to climate-proof new water supply and wastewater management systems in Fiji.
In many ways, this project epitomises the original purpose of climate finance: to ensure that developing countries do not bear the full economic burden of climate change mitigation and adaptation.
Fijians have tiny carbon footprints but, like citizens of other small island developing states, are highly vulnerable to climate change impacts such as sea level rise and more frequent cyclones.
The Government of Fiji is taking out loans to pay for new water and wastewater infrastructure, but the grant from the GCF will help to finance more climate-resilient systems.