{"id":1583,"date":"2023-11-30T10:11:58","date_gmt":"2023-11-30T10:11:58","guid":{"rendered":"https:\/\/climateschool.net\/?p=1583"},"modified":"2024-03-12T10:40:18","modified_gmt":"2024-03-12T10:40:18","slug":"%d8%af%d9%84%d9%8a%d9%84-%d9%84%d8%aa%d8%ba%d8%b7%d9%8a%d8%a9-%d8%aa%d9%85%d9%88%d9%8a%d9%84-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d8%ae-%d9%85%d9%86-%d8%a3%d8%ac%d9%84-%d9%82%d8%af%d8%b1%d8%a9-%d8%a7%d9%84","status":"publish","type":"post","link":"https:\/\/climateschool.net\/en\/%d8%af%d9%84%d9%8a%d9%84-%d9%84%d8%aa%d8%ba%d8%b7%d9%8a%d8%a9-%d8%aa%d9%85%d9%88%d9%8a%d9%84-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d8%ae-%d9%85%d9%86-%d8%a3%d8%ac%d9%84-%d9%82%d8%af%d8%b1%d8%a9-%d8%a7%d9%84\/","title":{"rendered":"A guide to climate finance coverage for coastal resilience"},"content":{"rendered":"

Written by: Hamam Haddad<\/strong><\/p>\n

What is the glossary of climate finance terms and financing mechanisms? How do we find the resources needed to cover climate finance? What are the most important professional tips that can support the work of journalists? You can get the answers to these questions by reading the guide \u201cCovering Climate Finance for Coastal Resilience\u201d.<\/p>\n

It is a guide issued by the Earth Journalism Network, founded in 2004 to enable journalists in developing countries to cover environmental reports more effectively, in cooperation with the InterNews Foundation, which supports 100 media outlets in more than one country, issued in November 2023.<\/p>\n

The guide builds on the historic decision reached by climate leaders and delegates at the 27th Conference of the Parties (COP27) in 2022, held in Sharm el-Sheikh, Egypt, where rich countries finally agreed to establish a \u201closs and damage fund\u201d to help low-income countries address the irreversible and unavoidable impacts of climate change such as sea level rise, floods, heat, waves, desertification and crop failure.<\/p>\n

As R. Carr\u00e9 and Weber explained in their study entitled \u201cHow much climate finance is allocated?<\/a>Climate finance can be divided into two categories: mitigation and adaptation.<\/p>\n

The first relates to financing aimed at reducing carbon emissions (mitigation) and the second is to build resilience and reduce exposure to the negative impacts of climate change (adaptation).<\/p>\n

There is an urgent need to fund initiatives that support the adaptive capacity of coastal areas in particular, where 1 in 3 of the world\u2019s population lives.<\/p>\n

The guide explains the importance of coastal ecosystems and their crucial role in absorbing larger amounts of carbon than forests, which helps mitigate and adapt to the effects of climate change, which requires supporting projects to strengthen and preserve them.<\/p>\n

It also includes direct answers to questions of interest to journalists: who, what and why of climate finance?<\/p>\n

We will review with you in this report the most important aspects of the guide, while the full text translated into Arabic can be viewed through this Link<\/a>.<\/p>\n

What is climate finance?<\/strong><\/p>\n

The term \u201cclimate finance\u201d refers to domestic, national or transnational financing \u2013 drawn from public, private and alternative sources of finance \u2013 that seeks to support mitigation and adaptation actions to address climate change. The Kyoto Protocol and the Paris Agreement call for financial assistance from Parties with significant financial resources to the weakest and most vulnerable Parties.<\/p>\n

Who is climate finance directed to? <\/strong><\/p>\n

\u00a0World Bank reports indicate that low- and middle-income countries, which contribute the least to global warming, urgently need climate financing, especially since their access to capital and financial markets is limited.<\/p>\n

\u00a0Why is climate finance needed?<\/strong><\/p>\n

The need for climate finance lies in the fact that solutions to reduce carbon emissions in low- and medium-income countries at the national and regional levels are very expensive, which requires rich countries that bear the greatest responsibility for these emissions to contribute more effectively to supporting these efforts and projects.<\/p>\n

The guide provides information to help journalists build their stories, such as: the amount of climate funding your country receives from the Green Climate Fund and how it is spent. It also informs the public that environmental projects need between $3-6 trillion in funding annually, according to the International Monetary Fund. Although it may seem like a high cost, continuing to emit the same levels of carbon emissions is much more expensive, given the catastrophic loss of biodiversity and the subsequent disasters such as forest fires, which must be made clear to donors.<\/p>\n

Journalist Megan Rowling's top tips for writing stories about climate finance:<\/strong><\/p>\n

\u2013 Review the websites of major climate funds, United Nations organizations, and the Green Climate Fund.<\/p>\n

\u2013 Conduct an internet search for \u201caccredited national entities\u201d and \u201cdirect access entities\u201d that receive climate finance, and then identify the projects they implement.<\/p>\n

- Report on your country\u2019s record of prioritizing gender and social inclusion in climate projects.<\/p>\n

-Look for NGOs working on climate-funded projects at the national and local levels, such as The Nature Conservancy.<\/p>\n

\u2013 Put people first, not just money! Look for community-led adaptation projects. Visit sites and talk to a range of people. Find out how climate finance has helped them, and criticize the ways money may not be reaching those who need it most.<\/p>\n

Journalistic examples of climate finance stories:<\/strong><\/p>\n

How can climate finance be scaled from \u201cbillions to trillions\u201d?<\/a><\/p>\n

Lack of financing prevents Bangladeshi farmers from diversifying their rice crops.<\/a><\/p>\n

Glossary:<\/strong><\/p>\n

The guide devotes space to international climate finance terminology, which is the ABC of work for journalists working in this field, most notably:<\/p>\n

Clean Development Mechanism:<\/strong> A mechanism under the Kyoto Protocol through which developed countries can finance projects to reduce or remove greenhouse gas emissions in developing countries, and in return receive carbon credits that they may apply toward meeting mandatory limits on their emissions.<\/p>\n

Direct access:<\/strong>A financial mechanism created by international climate finance funds to allow development banks, governments, non-profit organizations and private banks to access Green Climate Fund financing without having to go through the typical channels of the Fund\u2019s designated international and national institutions. This mechanism aims to increase equity and access to financing and eliminate \u201cmiddlemen.\u201d<\/p>\n

\u00a0National Adaptation Plan <\/strong>NAP<\/strong> :<\/strong> The NAP process identifies medium-term adaptation needs and priorities based on the latest climate science. Once key vulnerabilities to climate change are identified, it develops national-level strategies to address them. These strategies directly support countries\u2019 commitments under the Paris Agreement. As of 2023, 70 countries have completed their NAPs.<\/p>\n

\u00a0Loss and damage:<\/strong> Adverse impacts of climate change that occur despite, or in the absence of, appropriate mitigation and adaptation. They are often divided into economic losses and damages, which can be quantified in monetary terms, such as the costs of rebuilding infrastructure, and non-economic losses and damages, such as the loss of biodiversity.<\/p>\n

Financing Mechanisms Terms:<\/strong><\/p>\n

Carbon markets:<\/strong> A trading system in which carbon credits are bought and sold. Companies and individuals can use carbon markets to offset greenhouse gas emissions by purchasing carbon credits from other entities that pledge to reduce or remove emissions.<\/p>\n

Green bonds:<\/strong> Green bonds can raise funds from domestic and international capital markets for climate change adaptation, renewable energy, and other environmentally friendly projects. They are no different from conventional bonds, with their only unique feature being the requirement that the proceeds be invested in projects that generate environmental benefits. In its simplest form, a bond issuer raises a fixed amount of capital, and repays the principal (principal) and accrued interest (coupon) over a specified period of time.<\/p>\n

Blue Bonds<\/strong> Blue bonds are similar to traditional bonds in that they are a financial instrument for public and private investments that provides a return on the initial investment plus interest, however the funds generated are used to protect marine ecosystems.<\/p>\n

Finally, for journalists working on climate issues, this guide is an important window into the mechanisms of climate project financing, how governments and organizations manage capital directed to climate support projects, and the obstacles and conflicts that prevent them from fulfilling their obligations and the resulting irreversible damages, which qualifies them to play a greater role in changing reality.<\/p>\n

-Main photo from COP27 in Egypt- Photographer: Rahma Diaa.<\/p>\n

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