The UNDP and partners of the Adaptation Innovation Marketplace (AIM) have announced $2.2 million in climate action funding for 22 local innovators from 19 countries, including India. The Adaptation Fund Climate Innovation Accelerator (AFCIA) window’s first round of funding will improve local climate action and speed the achievement of the Paris Agreement’s and Sustainable Development Goals’ ambitions.
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Key Points:
- The project enables local actors and contributes to UNDP’s and partners’ worldwide endorsement of the principles for locally driven adaptation action.
- The Adaptation Innovation Marketplace will provide technical support and know-how for new funding applications launched.
- AIM is a strategy platform that supports scaled-up adaptation at the local level, concentrating on civil society, non-governmental organisations, and women and youth innovators, and was launched by UNDP Administrator Achim Steiner at the Climate Adaptation Summit in January 2021.
- The marketplace brings together resources, know-how, and assistance to make local climate change financing more accessible.
- The Adaptation Fund Climate Innovation Accelerator receives technical support from the AIM partners, which include the International Centre for Climate Change and Development, the Least Developed Countries Universities Consortium on Climate Change, the Global Resilience Partnership, the Climate-Knowledge Innovation Community, and the UN Capital Development Fund (UNCDF).
In 2022, AIM’s partners will continue to work together on knowledge sharing and South-South coordination for the 22 local partners that received money in the first round of AFCIA grant granting. The winning suggestions ranged from advanced aquaculture in India to increasing the production of climate-resilient acai berries in Brazil, as well as the reintroduction of historic climate-resilient construction techniques in the Sahel and the establishment of “blue jobs” in Micronesia.
About the grants distribution:
- Grants were distributed to 19 nations, with seven from Africa, eleven from Asia, and four from Latin America and the Caribbean.
- Ten of the 22 participants were from LDCs or small island developing states.
- Resilient agriculture, technology, community-based adaptation, ecosystem-based payments and services, and entrepreneurship were among the topics covered by the funds.
- The money comes from the Adaptation Fund Climate Innovation Accelerator, a multi-partner initiative that began in November 2020 with a $10 million grant from the Adaptation Fund.
- Local entrepreneurs in underdeveloped nations are helped to turn their creative resilience-building solutions into viable business models that can be funded commercially.
- The current IPCC report emphasises the importance of emphasising the role of social justice and varied forms of knowledge in climate adaptation processes, such as indigenous and local knowledge.
- Despite advances in adaptation efforts across all sectors and areas, human-caused climate change has resulted in widespread losses and damages to nature and people, with the most vulnerable people and systems being disproportionately impacted, according to the report.
- Africa and small islands, in particular, face significant problems in all facets of the report’s risk assessments.
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