Finland is an active member in the Champions Group on Adaptation Finance. The group strives to increase the quantity, quality and access of adaptation finance.
Finland hosted in April a ministerial meeting, the Lahti Adaptation Finance Ministerial, with key finance providers and the LDC/SIDS recipients discussing the barriers, success stories and way forward in increasing adaptation finance. (From Africa, at least Rwanda, Uganda and Egypt participated). In Lahti, the Champions Group committed to drive forward the development of a collective plan for at least doubling adaptation finance and ensuring a focus on Least Developed Counties and Small Island Developing States.
As for Finland’s climate finance portfolio, a large part of the international climate finance is channeled through multilateral organisations and climate funds, such as DFIs and the Green Climate Fund. working actively in the boards of multilaterals for efficiency, transparency and impact.Finlande aims to target resources equally to both mitigation and adaptation to climate change. The priority is to support the LDCs and SIDS, as they are particularly vulnerable to the impacts of climate change. During the past year, we have contributed to the Least Developed Countries Fund and Adaptation Fund. In AF, Africa is the continent that receives majority of the grant funding.
Finland is also a forerunner in meteorological cooperation. Proper meteorological services and early warning mechanisms are one of the best and most cost-effective ways to adapt to climate change. They save lives and livelihoods. The high-quality weather observation equipment by Vaisala Corporation and the technical assistance and training by the Finnish Meteorological Institute (FMI) are in high demand globally.