Ecuador officially launched its National Climate Finance Strategy (EFIC) during the Ecuador Climate Finance Week 2021 from 23-25 February. The Resilient Andes (Andes Resilientes) team in Ecuador took part in the reviews and discussions with subnational and national sectors for formulating the EFIC, and was on the panel of experts during the presentations on 25 February, sponsored by Ecuador’s Ministry of Environment and Water and the Ministry of Economy and Finance.
The National Climate Finance Strategy 2021 – 2030 is a climate management instrument for identifying gaps in financing to meet climate goals, improving the management of available resources, and thereby mobilising additional funds to climate change mitigation and/or adaptation projects, without compromising national efforts towards poverty eradication and sustainable development.
The EFIC was formulated through on-line discussions with civil society groups, the private sector, subnational governments, central government, academia and international cooperation, led by the Ministry of Environment and Water and the Ministry of Economy and Finance. It was supported by German Technical Cooperation (GIZ), the Climate Finance Group of Latin America and the Caribbean (GFLAC) and the member agencies of the Alliance for Sustainable Urban Development (ADUS).
The strategy is shaped by three strategic lines of action:
- Clear and effective governance of climate finance;
- Consolidation of a financial system that mainstreams the climate approach; and
- Access, management, allocation and effective and efficient mobilisation of climate finance, including 83 activities for the short term (until 2023), medium term (until 2026) and long term (until 2030), to be carried out by stakeholders and agencies from various sectors: public (national and subnational), private and financial, civil society, international cooperation, academia, and indigenous peoples and nationalities.
The Resilient Andes project coordinator in Ecuador took part in formulating the strategy, and was involved in the discussions with the sectors and revisions of the draft versions. Resilient Andes is involved with the EFIC’s short-term goals, and is printing the strategy and socializing it at national and international level. The project hopes to support the goals for capacity-building with various groups, which will give the strategy greater impetus.
Because of the EFIC, Ecuador has become an important reference for climate finance in the region, as one of the few countries in Latin America to have such a strategy.
You can download the document here.
The EFIC was launched together with a series of presentations by national and international experts, which can be found on the Facebook account of Ecuador’s Ministry of Environment and Water, as follows:
The EFIC launching event
FIRST PANEL: Role of international cooperation, climate funds and multilateral banking in the management of climate finance:
SECOND PANEL: Consolidating a financial system that mainstreams the climate approach:
THIRD PANEL: Clear and effective climate finance governance
FOURT PANEL: Civil society, information and transparency in climate finance governance
Source: Resilient Andes
Andes Resilient to Climate Change is a regional project supported by the Global Climate Change and Environment Programme of the Swiss Agency for Development and Cooperation (SDC) and facilitated by the HELVETAS Swiss Inter-cooperation – Avina Foundation consortium, in partnership with the International Institute for Sustainable Development (IISD) and in a strategic alliance with the International Fund for Agricultural Development (IFAD).