Policy Action Labs
Policy Action Labs are action-oriented dialogues developed by FMDV.
They mobilize urban finance practitioners
to exchange on how to transform policies into concrete actionable programs
in a large number of fields and geographies.
Unlocking finance for urban and territorial climate resilience in Africa (United Nations Africa Climate Week, preparatory event to COP 26)
Watch the event replay in English
Introduction by Mr Gonzalo Muñoz, United Nations High-Level Climate Champion
On September 27th ,2021, FMDV organized a High-Level side event on "Unlocking finance for urban and territorial climate resilience in Africa", during the UNFCCC United Nations Africa Climate Week in preparation of COP 26, that gathered more than 100 participants online.
It gathered the diversity of FMDV’s partners in Africa, in particular Mayors, the Executive Secretary of the United Nations Capital Development Fund (UNCDF), representatives of the West African Economic and Monetary Union (WAEMU), financing institutions, development partners and private investors.
The panelists shared their experiences and recommendations for developing enabling conditions and renewed multi-stakeholder partnerships for financing the low-carbon urban transition in Africa.
The discussions showed a strong alignment with the solutions promoted, under the impetus of FMDV, by the Climate Pathways (on Finance and Human Settlements) of the Marrakech Partnership for Global Climate Action (MPGCA), which federates, under the aegis of the United Nations, all non-state actors committed to the implementation of the Paris agenda:
- Developing financial intermediation through Subnational Development Banks (SDBs) and Local Governments Finance Institutions with a mandate to finance local governments and stakeholders. As financial intermediaries and last mile experts, SDBs can play a critical role in bridging the sub-national financing gap by expanding sources of public and private financing and structuring portfolios of sustainable local investments aligned with the goals of the Paris Agreement. FMDV supports the development of the Global Alliance of SDBs composed of the African and Latin American alliances.
- Develop country programs on financing the climate transition of cities, bringing together all stakeholders and providing national hubs of financial expertise to support cities and regions in the preparation of projects and climate financial engineering to access international financing.
-Develop blended financing vehicles to mobilize private investment based on public incentives to finance local climate infrastructure.
Implementing the new Green Climate Fund (GCF) Urban Strategy in Africa
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FMDV and the Green Climate Fund (GCF) organized a Policy Action Lab on "Implementing the Green Climate Fund's Strategy for Climate Resilient Cities and Urban Systems in Africa" on July 16th 2021.
The GCF, Ministers, Mayors, Development Finance Institutions, National Designated Authorities, Accredited Entities and Investors engaged in a action-oriented dialogue on how to reinforce the operationalization of the GCF new Sectoral Guide on “Cities, Buildings and Urban Systems.” This new strategy highlights :
4 paradigm shifting pathways with a strong potential to deliver local benefits: decarbonized and distributed energy; energy efficient buildings; compact & resilient urban forum; circular economy;
4 drivers of paradigm shift: transformational planning and programming, catalyzing climate innovation, mobilization of finance at scale and coalitions and knowledge to scale up success.
This Policy Action Lab allowed the participants to exchange on policies and instruments to operationalize the GCF Strategy in Africa with a focus on:
Designing national and local urban climate strategies and investment plans;
Developing pipelines of projects on urban resilience;
Reinforcing financial public intermediations to catalyze investments in urban resilience;
Setting-up investment vehicles for blended finance.
Introduction by Yannick Glemarec, Executive Director of the GCF