Why in news?
- At the COP30 climate summit in Belém, Germany and Spain jointly pledged about US$100 million to launch the Climate Investment Funds’ new Accelerating Resilience Investments and Innovations for Sustainable Economies (ARISE) programme.
- Germany committed €55 million (around US$63.25 million), while Spain pledged over €32 million (about US$36.8 million), signalling strong support for adaptation finance.
Background
- The Climate Investment Funds (CIF), established in 2008, mobilise resources through multilateral development banks to help developing countries adopt low‑carbon and climate‑resilient pathways. CIF has invested more than US$1 billion, benefiting over 30 countries and 65 million people.
- ARISE is designed to embed climate resilience into national economic strategies. It will support sectors such as agriculture, water, energy, transport and industry through a systems‑based approach and partnerships with six multilateral development banks.
- The programme prioritises Least Developed Countries and Small Island Developing States, which are disproportionately vulnerable to climate shocks.
Programme objectives
- Turn climate risks into opportunities by strengthening supply chains, infrastructure and livelihoods against extreme weather.
- Support planning and investment that reduce vulnerability to floods, droughts, sea‑level rise and other climate impacts.
- Encourage multilateral cooperation and private sector engagement to scale up adaptation finance.
Significance
- Early pledges from Germany and Spain may catalyse further contributions from other countries and institutions.
- By integrating resilience into economic planning, ARISE seeks to protect lives and livelihoods while promoting inclusive growth in vulnerable nations.
- If successful, the programme could accelerate global progress toward the Paris Agreement’s adaptation goals and strengthen international solidarity on climate resilience.
Conclusion
Climate finance has historically focused on cutting emissions. ARISE addresses the adaptation gap by investing in resilience for the world’s most vulnerable communities. Transparent governance, local engagement and sustained funding will be essential to translate these pledges into lasting benefits.
Source: Sustainability Online