Jan 24, 2024
The crucial role of locally-led Initiatives and overcoming global funding challenges
White paper for the Elevating the Voices of Affected People Co-Lab of the CIFAR Alliance
The global community spends just USD 30 billion annually on climate adaptation. However, when you put this figure into perspective, it represents a mere 10% of the projected USD 387 billion required each year (UNEP, 2023). Furthermore, a limited proportion of this funding actually reaches developing countries and finances locally-led initiatives.
Locally-led adaptation is key. The most effective adaptation measures are those tailored to local needs and implemented at the grassroots level. This localized approach not only captures the immediacy of climate change impacts, but also ensures strategies resonate with the community’s lived experiences. However, as with all strategies, certain barriers can impede progress, such as ecological and physical constraints, limitations in knowledge and resources, and social dynamics. Yet, despite these challenges, several standout characteristics define successful adaptation initiatives: a commitment to addressing the foundational causes of vulnerability, a drive toward community-led innovations, a strong inclination toward decentralized governance, a relentless focus on overcoming social barriers, and devolved finance.
This white paper delves into these defining features, exploring exemplary cases that showcase the effectiveness of locally-led adaptation strategies and their positive impact on communities worldwide.
Download the White paper
Rosita Najmi, Head Global Social Innovation, PayPal
“At PayPal, we believe in the potential of digital finance to enable disadvantaged communities and populations build climate resilience and thrive in the global net-zero economy. We look forward to ongoing collaboration with our CIFAR Alliance partners to enable responsible technological and inclusive financial innovations that create economic opportunity for climate-vulnerable populations around the world.”