The UK’s £3.87 billion International Climate Fund (ICF) is progressing well but there are still some areas that need improvements, according to a report from the Independent Commission for Aid Impact (ICAI).
The report gives the fun a green-amber rating meaning that it performs “relatively well” against the criteria for effectiveness and value for money but some improvements should be made.
The government fund’s goal is to support international poverty reduction by helping developing countries adapt to the impacts of climate change, take up low-carbon growth and tackle deforestation.
Graham Ward, ICAI chief commissioner, said, “The ICF has faced several delivery challenges, many of them related to the initial pressure to spend money quickly. It has since made good progress on addressing those challenges.
“There is still scope to improve the pace of implementation on what are often long term investments. It is too early to assess overall impact, but trajectory is promising. The ICF has had a positive impact on the international financial system, for example, in the development of the Green Climate Fund and in the operation of the Climate Investment Funds.”
Commissioner Mark Foster added that the ICF needs to develop a more “detailed private sector strategy”, such as identifying the conditions and strategies needed for attracting private capital for low-carbon, resilient growth.
The ICAI make a series of six recommendations for the ICF, including working with a wider range of partners at an international and national level, increasing flexibility in the allocation of resource and capital expenditure, and being more transparent and inclusive, such as publishing strategies, actives and progress online.
Photo: Petras Gagilas via Flickr
Like our Facebook Page
Investing in a Sustainable Environmental Future for Northern Virginia
Prominent Trends in Seafood Sustainability in 2022
Can PEMF Help To Improve Plant Growth for Eco-Friendly Gardeners
How the U.S. Government is Promoting Green Energy in the Country
12 Essential Things for Buying Your First Home
Harnessing Sustainability with User-Centric Technology Innovation
Making Your Dream of Having an Eco-Friendly Garden Come True
Tips for Optimal Waste Management in Your Home
The Agricultural Benefits of Weather Stations for Eco-Friendly Farmers
What Makes Online Furniture Eco-Friendly?
7 Eco-Friendly Plant-Based Alternatives for Everyday Products
Top 5 Benefits of Eco-Friendly Cars
Why Eco-Friendly Homes Should Have Outdoor Bathrooms
Merits of Sustainability Reporting: What Every Manager Must Know
Low Emission and Clean Air Zones: What You Need To Know
4 Ways To Build A Sustainable Home
CEO Brian Ladin Explains How The Shipping Industry Is Going Green
A Guide to Eco-Friendly Landscaping
Why Transitioning Your Company to an EV Fleet Makes Sense?
6 Practices for Sustainable and Eco-Friendly Plant Operations
- Features11 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy11 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features11 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Features10 months ago
5 Compelling Reasons to Hire an Eco-Friendly Contractor