29 August 2014: The Lima Climate Finance Week, a four-day international event held in preparation for the Lima Climate Change Conference in December 2014, sought to build a common understanding on climate finance and green investments, and strengthen linkages between different actors in order to scale up financial resources.

The Week, held from 26-29 August 2014, in Lima, Peru, was hosted by the Government of Peru in the capacity of the incoming Presidency of the 20th session of the Conference of the Parties (COP) to the UNFCCC and of the 11th session of the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP). The three core themes addressed were: private sector finance; enabling environments and readiness for country-led climate finance; and transparency of climate finance. Finance for adaptation was addressed as a cross-cutting element.

The event provided a space for government representatives, UN officials, practitioners, non-state actors and the private sector to share experiences and enhance understanding of key climate finance issues. The event also included the participation of representatives from the World Bank, regional development banks, and private banks and investment companies.

Speaking at the opening session, Manuel Pulgar-Vidal, Minister of Environment of Peru and incoming COP President, described climate finance as a fundamental element for a successful COP 20, and called for action in a “transformative, transparent and participative way.” Warning against the potential economic impacts of climate change, and arguing for the possibility of combining sustainable development and economic growth, Luis Miguel Castilla, Minister of Economy and Finance of Peru, stated that “green responsible development is not incompatible with economic growth.”

Over three Practitioner Days, held as part of the event on 26-28 August, participants heard presentations and shared experiences on, inter alia: the demand and supply sides of climate finance; strengthening the linkages between private and public finance; country experiences on efforts to enable, plan for and manage climate finance; readiness and preparatory support from the Green Climate Fund (GCF); results-based management in climate finance; and tracking climate finance flows.

The Week concluded with an informal meeting of international climate funding negotiators that focused on options for maximizing financial opportunities for climate change initiatives towards COP 20. [UNFCCC Press Release, 26 August 2014] [UNFCCC Press Release, 27 August 2014] [COP 20 Presidency Press Release, 26 August 2014] [COP 20 Presidency Press Release, 29 August 2014 (in Spanish)] [Lima Climate Finance Week Agenda] [Official Event Photos on Flickr]