TRANSfer organized side event on Climate Finance at UNFCCC COP 20
How can climate finance be used to shift traditional transport financing to low-emission, sustainable transport? How can it be used to mobilize additional financing including from the private sector for low-emission, sustainable transport? And how could climate funds such as the Green Climate Fund be structured to make them work for sustainable transport? These were the guiding questions of the side event “Green and Smart Innovations and Effective Climate Finance for Low Carbon Transport and Society”. The discussion started with a presentation of findings that resulted from the work of an international expert group on Climate Finance for Low-Carbon Transport, that include specific recommendations regarding the eligibility of transport-related activities for climate financing mechanisms, options to raise the readiness of Countries to access climate finance as well as appropriate MRV-requirements. Andan Rahman (Cambridge Systematics) provided insight into an ongoing analysis of existing financing models for sustainable transport and highlighted success factors focusing on risks and the roles of different stakeholders in providing finance. Xiaomei Tan (GEF) gave an overview on GEF funding for sustainable transport projects and priorities for the coming years. Syamsidar Thamrin (ICCTF) demonstrated the beneficial role of adequate national institutions to effectively manage international climate finance and domestic co-funding as she explained the mechanisms of the Indonesian Climate Change Trust Fund. The role innovations play in funding sustainable transport was shown by two examples from Taiwan: One referred to a public bicycle system in Taipei City, presented by Hisao Kang-Ma, the other to an electronic toll collection system that helped reduce travel time, fuel consumption and carbon emissions in Taiwan.
The side event was a joint initiative by the Bridging the Gap initiative and the Taiwanese Institute for Sustainable Transport, organized by the GIZ TRANSfer project and moderated by Heather Allen (TRF). The recommendations on Climate Finance and further information on the international expert group process can be downloaded here: