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2024 | Book

Climate Funds and Sustainable Development

Who Pays in the End?

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About this book

​While significant attention has been devoted to achieving Sustainable Development Goal 13 (SDG 13) and scaling up climate finance for developing countries, the adverse impacts of funded projects on local communities remains inadequately explored by both academics and policymakers. Mobilizing climate finance on an unprecedented scale is undeniably vital for the success of developing countries’ climate policies. However, these initiatives often give rise to adverse consequences for individuals in these countries, leading to displacements, exacerbating food insecurity, or even triggering conflicts over resources.

This book examines the extent to which the climate funds established for achieving SDG 13 are adequate for addressing climate change impacts in developing countries. Yet, its analysis transcends the mere evaluation of the sufficiency or efficacy of these efforts found in much of the existing literature. Beyond the scope of quantifiable success, the book delves into the root causes of the adverse impacts that these funds can have on local communities and offers tailored recommendations to realize the noble aspirations of SDG 13, all without implying that the individuals who should benefit from climate finance are the ones who pay in the end.

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
This introductory chapter is driven by the fact that the operationalization of Goal 13 of the United Nation’s 2030 Agenda for Sustainable Development (SDG 13) and the mobilization of climate finance to developing countries have, on multiple occasions, led to dire consequences for the communities living in these countries. These consequences range from displacements or food insecurity to even armed conflicts over scarce resources. Despite the profound and far-reaching implications of these impacts, they have received disproportionately less attention compared to other quantitative aspects of climate finance, such as the need to facilitate more lending and optimize capital usage. While the mobilization of climate finance on a larger scale is undeniably essential for the success of developing countries’ climate policies, it is equally crucial to ensure that the Climate Funds established to realize SDG 13 do not inadvertently burden the very individuals who are meant to benefit from them.
Gonzalo Larrea
Chapter 2. Climate Funds and Sustainable Development
Abstract
This chapter explores SDG 13 and the Climate Funds established under the UNFCCC to operationalize this goal and mobilize climate finance to developing countries. Drawing insights from nine exemplary case studies, it illustrates the far-reaching implications that the decisions of these Funds can have on individuals in recipient countries. Against this backdrop, the chapter offers a comprehensive literature review of the main proposals designed to address these impacts. However, the chapter’s analysis reveals that the diverse perspectives on the root causes of these impacts and the absence of comprehensive solutions in these proposals fall short of preventing all the negative repercussions that can arise within local communities.
Gonzalo Larrea
Chapter 3. Participation in the Climate Funds
Abstract
This chapter explores the extent to which the policies and practices of the Climate Funds ensure adequate stakeholder participation in project design and decision-making. Drawing from an extensive literature review, the chapter defines the content and scope of the standard of participation in global institutions in general and applies it to the specific context of the Climate Funds. Through this approach, the chapter establishes the benchmark against which it can be gauged whether the Funds’ policies promote stakeholder participation at an adequate level. Subsequently, the chapter scrutinizes the policies governing this standard within the Funds and undertakes a comprehensive and comparative critique of the Funds’ practices and the implications on the rights and interests of individuals based in recipient countries.
Gonzalo Larrea
Chapter 4. Transparency in the Climate Funds
Abstract
This chapter examines the extent to which the standard of transparency is upheld within the policies and practices of the Climate Funds and assesses its potential impact on the rights and interests of individuals based in recipient countries. The analysis begins by scrutinizing the content and scope of the standard of transparency in global institutions as defined by relevant literature. This standard is then applied to the specific context of the Climate Funds to identify the key elements that the Funds should be incorporating into their policies. Following this, the chapter dissects the policies and practices of the Funds governing this standard and engages in a critical analysis of the implications for the rights and interests of local communities.
Gonzalo Larrea
Chapter 5. Accountability in the Climate Funds
Abstract
This chapter evaluates the extent to which the Climate Funds can be deemed accountable to individuals based in recipient countries for the impacts of their funding decisions. First, the chapter examines the content and scope of the standard of accountability as defined in the existing literature on global institutions. It then applies this standard to the context of the Climate Funds to identify the types of accountability mechanisms and their characteristics that are essential for fostering accountability adequately. Finally, the chapter conducts a comprehensive analysis of the Funds’ mechanisms and critically evaluates their impact on the rights and interests of local communities in light of the standard outlined in the literature.
Gonzalo Larrea
Chapter 6. Recommendations: Reforming the Climate Funds
Abstract
This chapter presents the book’s key findings and overarching recommendations. Drawing from the comprehensive and comparative analysis of the policies and practices of the Climate Funds and other MDBs in previous chapters, it puts forward the necessary reforms for policymakers to consider in order to adequately promote participation, transparency, and accountability within each Fund. These recommendations are holistic in nature, addressing the intrinsic interplay among all sources of adverse effects. Ultimately, they strive to ensure that those who should benefit from the realization of SDG 13 are not the ones who end up paying the price of climate finance.
Gonzalo Larrea
7. Correction to: Climate Funds and Sustainable Development
Gonzalo Larrea
Backmatter
Metadata
Title
Climate Funds and Sustainable Development
Author
Gonzalo Larrea
Copyright Year
2024
Electronic ISBN
978-3-031-50218-7
Print ISBN
978-3-031-50217-0
DOI
https://doi.org/10.1007/978-3-031-50218-7

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