The guidebook titled ‘Catalysing Climate Finance’ explains UNDP’s experience in managing climate projects in 140 countries in the last two decades.
“In the absence of effective capacity building and appropriate advisory services, there’s a significant risk that only a few emerging economies will fully benefit from these positive developments,” said Rebeca Grynspan, UNDP Associate Administrator.
It has been found that around 90 per cent of the clean energy investment goes to G20 (Group of 20) nations and rest to the other countries.
Between 2009 and 2010, clean energy sector investments worldwide grew by 30 per cent to a record $243 billion. Only one-tenth of the investment went to developing nations.
Most of the developing countries lack awareness on how to tap the potential of environmental finance market to tackle the issue of climate change.
The UN has found that the developing countries face three major problems in planning a green future- emission and climate resilient future – gaining access to new and innovative climate finance sources; creating links between climate change strategies and national development objectives; and identifying how to use limited public finance resources to attract private capital.
Many countries are not aware that the environmental finance market is huge where more than 6,000 equity funds and scores of international public funds and carbon markets are active.
The UN also expects that the guidebook will enable the countries to formulate plans to make use of the environmental finance market to fight climate change.
