Portfolio for Green Development
Climate change and nature loss are undermining people’s livelihoods and threatening food and water security, health, and economic development – particularly in developing countries.
Many of the countries that are hardest hit have historically contributed little to greenhouse gas emissions. At the same time, several developing countries have growing populations with increasing needs for land and energy, which can lead to both higher emissions and greater nature loss.
It is therefore crucial to support these countries in developing and implementing climate and nature plans in line with the Paris Agreement and the Global Biodiversity Framework (Kunming–Montreal), in order to promote just and sustainable development adapted to a changing climate.
The portfolio for green development includes both multilateral and local partners in selected partner countries, and works along two tracks:
Knowledge andcapacity
Many developing countries need more data and capacity in order to implement effective climate and nature policies. For example, data on emissions, environmental degradation and socio-economic conditions is important for designing targeted measures. The portfolio will therefore aim to:
- Strengthen data on weather, climate, nature, land use, vulnerability and risk, for example through systems that can provide early warning of extreme weather.
- Strengthen developing countries’ capacity to implement climate and nature plans through legal, technical and financial support.
- Facilitate genuine participation from developing countries and vulnerable groups in international fora addressing climate and nature plans.
Financing
In addition to knowledge and capacity, developing countries need major investments to ensure sustainable development. At the same time, public budgets in many countries are under pressure. The portfolio will therefore contribute to:
- Ensure that existing finance is used more in line with climate and environmental plans.
- Mobilize more funding for measures that help achieve climate and nature goals.
- Increase private investors’ investments in green projects.
- Ensure that particularly vulnerable groups are reached with climate adaptation measures where grants are the only viable solution.