A consortium of multilateral development banks and funders, countries and philanthropies published the Guiding Principles for Financing Climate and Health Solutions (“Guiding Principles”), announced at the World Climate Action Summit at the 28th session of Conference of Parties to the UNFCCC (COP28) in Dubai.
The Guiding Principles acknowledge critical elements of accessible and effective financing and the need to mobilize additional funds for climate and health solutions. Key pillars of the Guiding Principles include:
- accelerating transformative climate and health solutions to save and improve lives now and in the future;
- creating equitable, inclusive, accessible, and holistic approaches to climate and health financing and solutions; and
- building the core policymaking and implementation capacities of countries, communities, and financing institutions to deliver climate and health solutions.
The Guiding Principles build on existing development finance principles and mechanisms, including the Addis Ababa Action Agenda, Paris Climate Agreement, and The Bridgetown Initiative, to support a global policy agenda that will advance the aims of countries most affected by climate change. The Guiding Principles were drafted by the five initiating parties, revised following consultations with over 50 stakeholders, and ultimately endorsed by 41 agencies (as of 1 December 2023) representing the public, private, and philanthropic sectors.
The initiating parties have committed to continued collaboration to ensure implementation and accountability in partnership with leaders of countries most affected by climate change and representatives from civil society.
