Climate Finance and the Peace Dividend

Mar 4, 2022 | Catherine Wong
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According to the OECD, countries receiving the least climate finance include not only the least developed, but also high-income countries in the Middle East and middle-income countries in other regions suffering conflict. Many of those on the frontlines of fragility and conflict also bear the brunt of the climate emergency.

Conflict can be an obstacle to climate action, leading to the destruction, sometimes willful, of the assets needed for adaptation--access to energy, and resilient, low-carbon development. In situations of fragility and conflict, investments in climate action are often crowded out and it can be challenging to even prioritize adaptation and mitigation as policy objectives.

In the practice of environmental peacebuilding, adaptation and mitigation can, however, be an opportunity to build peace and mend social fabric.

In the conceptual policy-practice feedback loop, practice is often still underrated, while heuristic approaches are key to solutions. The work of the Climate Security Mechanism highlights the use of thematic evaluations, dynamic portfolio tracking, and convening power of multilateral vertical funds. Together, these unique capabilities can forge a dialogue between diverse stakeholders (including peacebuilding actors) and create platforms for climate finance and peace and security. Much like the Global Environment Facility’s Global Wildlife Program and Climate Technology Centre and Network, such platforms could support exchange, innovation, and mainstreaming priorities in the funds’ country level programmes and set goalposts for project development.