The provision of climate finance, especially for adaptation needs in vulnerable and local communities, is considered a key element and political goal in the international climate change space. Effectively steering adaptation finance to the local level where it is most needed and is likely to have the greatest impact remains oftentimes a challenge, often resulting in a lack of financial resources for local entities to plan and implement adequate adaptation measures.
In this paper by adelphi, several key challenges and potential solutions for channeling money from the international to the local level have been identified and analysed. The analysis sheds light on promising elements of so-called elevator functions (to channeling funding effectively through vertical administrative levels from the international to the local level) in existing financing mechanisms from different sectors that are potentially suitable for adaptation finance. Furthermore, the authors present options and recommendations for action for adaptation finance practitioners, project managers and experts from donor agencies and multilateral finance institutions in order to improve the channelling of adaptation finance to the local level.
