Tracking Climate Finance to Monitor Impact on Nature
Traditionally, Climate Public Expenditure Institutional Reviews (CPEIR) have been the most representative tools available to conduct assessments of public programs with climate change objectives in national strategic documents. OIKO conducted a CPEIR in the Forestry Sector in Jamaica to align EU budget support and provide supplementary robust data and evidence to base climate policy recommendations and future climate spending decisions – both for mitigation and adaptation.
Both, policy decision makers and the citizens need to understand how and how much they are spending (aid and tax revenues) on their national climate change responses. Climate change mainstreaming in budgeting process of different ministerial expenditures is today a prerequisite to comply with the National Determined Contributions to UNFCCC. Specifically, OIKO aided the Planning Institute, the Department of Forestry of Jamaica and the EU Delegation in preparing Climate Investment to help decision-makers to:
- better understand the resource and gaps required to finance their national response to climate change;
- monitor and track climate finance flows – whether from domestic or foreign sources;
- assess the cost effectiveness and impact of existing and potential climate expenditures;
- prioritization of scarce public resources in order to achieve more climate-compatible national development;
increase transparency over resource allocation and management.
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Jamaican tody (Todus todus)
Hurricane Ivan path
Hurricane Ivan devastation