Climate change impacts such as drought, floods, severe weather and sea-level rise are likely to result in a range of development risks and threats. These will impact the poor and developing countries disproportionately. Key challenges for the development community are to ensure that climate change adaptation and mitigation are integrated at all levels of development decision-making, and to channel adequate financial resources to fund climate-related activities that promote development effectiveness.
There are close links between development and climate change. Recognising this, OECD member countries have committed to “work together to better integrate climate change adaptation into development planning and assistance, both with their own governments and in activities undertaken with partner countries”. The Task Team on Climate Change and Development Co-operation supports this objective by bringing together expertise from the OECD’s Development Assistance Committee (DAC) and Environmental Policy Committee (EPOC). The Task Team’s overarching mission is to support the integration of climate change adaptation into development co-operation, through the provision of guidance and research.
The OECD is working together to apply lessons from development co-operation to the management and delivery of climate finance under the Partnership for Climate Finance and Development. The Partnership is a voluntary initiative promoting the deployment of climate finance at country-level through coherence and collaboration among climate change, finance and development co-operation communities at the country, regional and global levels.
Tracking finance flows towards environmental objectives is key to monitor progress and hold countries to account on their commitments – such as the UNFCCC commitment on the part of developed parties of mobilising jointly USD 100 billion per year by 2020 from a wide variety of sources, public and private, to support mitigation and adaptation in developing countries.