Champions Group on Adaptation Finance welcome a new member and drive forward political ambition on adaptation finance on the road to COP27

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Convening ahead of the Stockhom+50 conference this week, Sweden’s Minister for International Development Cooperation Matilda Ernkrans and members of the Champions Group on Adaptation Finance reiterated their commitments to raise the political ambition for adaptation finance and address the barriers to increasing flows, quality, effectiveness and accessibility of adaptation finance.

The Champions Group welcomed Canada as a new member, bringing membership to 14. They discussed proposals with Least Developed Countries (LDCs) and Small Island Developing States (SIDS) concerning their ongoing engagement and joint advocacy. The Group also invited LDCs and SIDS to consider a series of ongoing engagements to share advocacy plans.

The meeting followed the Group’s previous engagement in April 2022, when Group members met with LDCs, SIDS and other adaptation finance actors at the Lahti Adaptation Finance Ministerial in Finland to put climate adaptation finance at the forefront of climate discussions in 2022. At this meeting, the Champions Group identified shared priorities to work on together ahead of COP27, as outlined in the Chair’s Summary and statement of commitment presented by the Group.

Eight weeks on, the Group used the Stockholm+50 conference as an opportunity to discuss progress and how to jointly take these efforts forward.

The Group now have their sights on COP27 and are committed to working closely with LDCs and SIDS to galvanise stronger political action for their shared adaptation finance priorities.

Sweden’s Minister for International Development Cooperation Matilda Ernkrans:

“Stockholm+50 is a platform for those who want to do more, who want to accelerate the ongoing work on climate, nature and development. This is what the Champions Group for Adaptation Finance is all about – walking the talk and pushing others to do the same. We also know we need to work more and better – together – so we look forward to the Champions Group working closely with Least Developed Countries and Small Island Developing States to encourage others to take the action needed.”

Canada’s Minister of Environment and Climate Change, the Honourable Steven Guilbeault:

“Canada is immensely proud to join the Champions Group on Adaptation Finance and the member countries leading the charge to double adaptation finance. This Group is urging international partners to do more to support the developing world to prepare and adapt to the impacts of climate change. As countries rally around the call for USD 100 billion in climate finance, adaptation must be front and center. That’s why Canada has recently more than doubled our investment in adaptation under our USD 5.3 billion in climate finance to 40 per cent.”

Finland’s Minister for Development Cooperation and Foreign Trade Ville Skinnari:

“Extremely happy to see concrete action taking place after the Lahti Ministerial. Champions Group is welcoming an important new member, Canada. Finland will continue to drive progress on adaptation finance with a special focus on bridging climate and finance portfolios.”

 

The Champions Group on Adaptation Finance

The Champions Group on Adaptation Finance was launched at the UN General Assembly in September 2021. Its 14 members include Australia, Belgium, Canada, Denmark, Finland, Germany, Ireland, Italy, the Netherlands, New Zealand, Sweden, the United Kingdom and the African Development Bank, and is supported by the European Commission.