The international debate on climate financing has focused on transparency but failed to consider the issue of effectiveness, according to an expert at the London-based Overseas Development Institute.
“Much of [the debate] has stayed at the level of demanding transparency in pledges and commitments from donor countries,” Jessica Brown, a research officer at ODI, argues. “But what is often missing from this conversation is a focus on effectiveness - what types of finance are most needed, and how climate finance can be channelled and delivered in the most effective way?”
The focus on transparency of climate financing should be complemented by an analysis of the climate needs at the national and local levels, she suggests.
“Depending on the needs of a country, the appropriateness of the public-private finance mix changes drastically,” Brown adds.