The session will explore practical mechanisms for closing this gap, including grants and concessional finance, project preparation, blended finance, aggregation of projects, performance-based approaches, locally led adaptation finance and mechanisms for directing international climate finance towards subnational implementation. This closely aligns with COP31's emphasis on strengthening financial and institutional mechanisms that enable climate action
November 13, 13:00 - 14:00
The first two sessions of the Urban Water Resilience and Locally Led Climate Action Day identify what needs to be done; this session addresses the fundamental question of how it will be financed. Despite growing climate-finance flows, local governments, utilities, and communities frequently struggle to access resources because of limited project-preparation capacity, small project sizes, institutional constraints and financing mechanisms not designed for subnational actors.
