A review of domestic data sources for climate finance flows in recipient countries
Improved national financial monitoring systems will increase accountability on climate change spending and foster transparency for global efforts to reach the goals outlined through the Paris Agreement and 2030 Agenda for Sustainable Development, according to a joint study issued today by the United Nations Development Programme (UNDP) and the Latin American and Caribbean Climate Finance Group (GFLAC). Climate finance data is key to measuring and reporting on how we are responding to the risks of climate change and building more climate resilient lives and livelihoods across the globe. Climate change is one of the greatest challenges of our time, improving national financial monitoring systems will be essential in providing reliable, transparent and accountable reporting on global investments to reach our global goals for low-carbon climate-resilient development. The study – "A Review of Domestic Data Sources for Climate Finance Flows in Recipient Countries" – examined successes and challenges in tracking climate change finance in six countries: Colombia, Guatemala, Kenya, Nepal, the Philippines and Zambia. The study underscores a finance gap for spending on climate change adaptation.