February 2024 Newsletter Recap: Climate Finance

Did you miss the Climatelinks February newsletter? We’ve got you covered. Please find a recap of the February ‘Climate Finance’ theme below. You won’t want to miss this short list of top resources and blogs from the month. Subscribe to our newsletter today. Do you want to contribute to the Climatelinks community? Send us a resource, blog, or event.

Climate finance can play a critical role in addressing the climate crisis, including by increasing technological innovation, transitioning away from fossil fuels, and creating incentives that catalyze private investment into public goods. USAID has long recognized the importance of climate finance, which is why mobilizing $150 billion is one of the six high-level targets in the Agency’s 2022-2030 Climate Strategy.

Fresh Blog Posts

Bridging the Gap: Why Climate Finance Has Become a Core Part of USAID’s Development DNA (Part 2)

USAID’s cross-cutting Climate Strategy demands the development community look for creative ways to integrate climate into their everyday work. So how does climate finance fit into international development? USAID is working to direct finance resources to underserved countries, sectors, and populations that align with both its climate and core development principles.

USAID’s Climate Strategy in Action: Using Digital Data to Catalyze Clean Energy Transitions

Climatelinks’ USAID’s Climate Strategy in Action series expands on the stories told by photos submitted to the 2023 Climatelinks Photo Contest. The USAID Kosovo Energy Security of Supply (KESS) Activity used drones and Geospatial Information System technology in innovative ways to expand renewable energy access in Kosovo. Using KESS’s digital assessments, the Royal Beverage Company was able to install a solar photovoltaic system on one of its factories–generating a carbon offset equivalent to removing 146 cars from the road for a year.

Climate Finance in Focus: Jordan’s Decarbonization Finance Directory for the Clean Energy Transition

The Decarbonization Finance Directory created by USAID’s Energy Sector Support Activity serves as a comprehensive guide to financial opportunities that underpin decarbonization projects in Jordan. It showcases an extensive range of financing options that span the electricity, transportation, industrial, and building sectors that are critical in supporting Jordan’s transition to clean energy. By leveraging these funding sources, Jordan is set to significantly increase the adoption of clean energy and energy-efficient solutions.

Deep Dive into Blue Carbon, Coastal Resilience, and Ocean Finance

The Coastal Resilience, Carbon, and Conservation Finance (C3F) activity under the USAID Climate Finance for Development Accelerator aims to encourage the flow of private climate finance into coastal resilience and blue carbon projects. These projects aim to promote biodiversity conservation, climate mitigation, and adaptation while benefiting local communities. In this interview, Chip Cunliffe, the Programme and Risk Director at the Ocean Risk and Resilience Action Alliance, speaks about the landscape of blue carbon projects and C3F’s work. 

Levers for Mobilizing Climate Finance for Clean Energy in USAID Activities

In 2021, USAID and the Department of Energy’s National Renewable Energy Laboratory (NREL) conducted a short-term assessment to identify ways climate finance could be incorporated into energy sector programming. The final report identified ten climate finance levers that can be combined and applied to USAID programs to increase the scale of investment in clean energy and energy efficiency in partner countries.

New Resources

Climate Finance For Low Emissions Agriculture In Sub-Saharan Africa Toolbox

The USAID Africa Trade and Investment activity, in partnership with Open Capital and the Climate Policy Initiative, conducted a landscape analysis of climate finance options for agriculture across sub-Saharan Africa. The analysis informs a toolbox that provides foundational resources to support USAID Missions in accelerating the flow of climate finance in the region. 

Bangladesh Enabling Environment for Climate Action Needs Assessment

USAID is well positioned to support the Government of Bangladesh in its efforts to respond to climate challenges and capitalize on opportunities. This Needs Assessment was designed to assist USAID/Bangladesh as it identifies opportunities for strategic investment to support transformational systems change. It responds directly to eight research questions and identifies opportunities for USAID support within each.

Climate Risk Management Spotlight

How To Do Climate Risk Management

At USAID, climate risk management (CRM) entails more than just conducting a climate risk assessment. The assessment is important, but it is only one part of a comprehensive, iterative four-phase process that is integrated into each stage of USAID’s program cycle. CRM should not be viewed as a separate process but rather as an integral part of program design and implementation.

Opportunities 

USAID Energy Photo Contest

USAID’s Energy programs underpin many of the strategic objectives laid out in USAID’s Climate Strategy. They support partner countries’ efforts to build and maintain essential energy infrastructure without exacerbating climate change by reforming the energy sector for greater reliability and a greener future, all while helping partners transition to affordable and sustainable energy that reduces emissions and spurs economic growth. The USAID Energy Photo Contest gives the larger USAID community the opportunity to highlight the crucial work they are undertaking all across the globe. You have until March 29, 2024 to submit photos for the photo contest.

Call for Content

Share your events and resources or write a blog related to an upcoming monthly theme! Check out our upcoming themes to see if your climate work aligns:

• March and April: Mitigation and Low-Emissions Agriculture
• May and June: Youth-led Climate Action
• 2024 Cross-cutting Themes: Systems Change and Locally Led Development

If your USAID-related climate change work relates to these themes, Climatelinks would love to feature your work and share your resources. Send us a resource or blog.