Post by Global Center on Adaptation

Highlights from the #COP26 Ministerial on #AdaptationAction, from the focus stream on accelerating FINANCE: 🌎 "The Caribbean Development Bank is advocating that developed countries re-allocate just 2% of their latest Special Drawing Rights allocations, which can be combined with the SDRs already allocated to #SIDS to enable them to invest in adaptation at scale," said CDB President Hyginus Leon. 🌏 "Adaptation has long been neglected in development cooperation and in all climate discussions. This has got to stop right here, right now," said Susanna Moorehead, Chair of the Development Assistance Committee (DAC) at OECD - OCDE. 🌍 "We can help address some of the issues discussed here by doing more: We announced a tripling of our adaptation finance by 2025 and we will scale up investment for physical, natural & human capital ... We are part of the [Africa Adaptation Acceleration Program] that is led by the African Development Bank Group and the Global Center on Adaptation," said European Investment Bank (EIB) Vice President Ambroise Fayolle. 🇺🇸 "The collective raising of ambition to manage the impacts of climate and to adapt more effectively is absolutely central," said Jonathan Pershing, Deputy Climate Envoy, USA, highlighting the $3 billion/year in adaptation finance commitment made by President Joseph Biden. 🇫🇯 "To move both from billions to trillions while also improving the quality & effectiveness of adaptation & mitigation focused financing, we need to create greater credibility through increased predictability under the Paris Agreement," said Aiyaz Sayed-Khaiyum, Attorney-General; Minister for Economy, Civil Service, Communication; and Minister Responsible for Climate Change of Fiji. 🇨🇴 "Resources are necessary to transition to a global economy within 1.5°C. We urgently request that at least $70 billion are allocated exclusively to adaptation from here to 2030," said Vice Minister Juan Nicolas Galarza of Colombia. 🇵🇪 "Adaptation is our priority ... Indigenous people and women are our best partners. We need to act now. We need your support," said Alfredo Mamani, Vice Minister of Strategic Development of Natural Resources, Peru. 🇸🇴 "For Somalia, climate action means adaptation and building resilience, with mitigation as a core benefit arising from adaptation," Gamal Hassan, Minister of Planning & International Cooperation, Somalia. 🇯🇵 "For adaptation to climate change, Japan will double our assistance to approximately $14.8 billion, such as in the area of disaster risk reduction," said Yutaka Shoda, Vice-Minister for Global Environmental Affairs, Japan. Watch the interventions: https://lnkd.in/eWiRBnk6