Performance-Based Climate Resilience Financing Mechanism in Vanuatu - LoCAL

Performance-Based Climate Resilience Financing Mechanism in Vanuatu - LoCAL

Description

Description: 

  Performance-Based Climate Resilience Financing Mechanism in Vanuatu - LoCAL

Climate change is negatively impacting livelihoods for a majority of the population in Vanuatu, and is encumbering development and governance at the local level. These impacts will be heightened because of unfavorable climate projections such as the increased intensity of tropical cyclones. In addition, current efforts to adapt to climate change and its associated disasters are far from being transformational in scale and depth, and the need for adaptation across all sectors is immense. Consequently, it is important that adaptation to climate change is escalated at the local level to safeguard social and economic infrastructure, create opportunities for the most vulnerable communities to meet their needs, safeguard and restore critical ecosystems (for the purposes of livelihoods, income and biophysical integrity)  and to foster resilient development into local governance

 

LoCAL in Vanuatu make use of the existing funding system and grants to provincial governments under and augment this in terms of finance for CC interventions, assessment system with focus on climate change adaptation performance, M&E to track additional funding for CC targeted investments and CB/TA to ensure mainstreaming of climate change through the entire planning and project implementation structure, see below.

 

Objectives: 
The overall objective of the LoCAL programme Vanuatu is to increase the resilience of local economies and communities in the provincial councils and area councils below by establishing a performance-based climate resilience (PBCRG) top-up financing mechanism through enhancement of funding within the current development grant system. LoCAL in Vanuatu make use of the existing funding system and grants to provincial governments under and augment this in terms of finance for CC interventions, assessment system with focus on climate change adaptation performance, M&E to track additional funding for CC targeted investments and CB/TA to ensure mainstreaming of climate change through the entire planning and project implementation structure, see below. - ( see the project profile form for the implementing structure)