On Friday 25 January, LRI in collaboration with the Dickson Poon School of Law and UN Environment facilitated a round table workshop on legal readiness for climate finance at King’s College, London.
To respond to the adverse effects of climate change, developing countries require significant new and additional financial resources. Industrialised countries have promised to take the lead in mobilising climate finance. To date, however, many poor and particularly climate vulnerable developing countries do not only lack the financial resources for crucial adaptation actions but even the funds required to create the basic institutional governance framework for mainstreaming climate change into general law and policy making.
The roundtable workshop brought together regulators, academics and practitioners to discuss lessons learnt and approaches in different jurisdictions on how to increase flows of private capital. Different sessions looked at the role regulators can play, the development of a climate finance toolkit and specific approaches to raising climate finance. Oscar Njugune of Kenya’s International Financial Centre Authority commented on the workshop: “Certainly from a Kenyan policy making perspective it has provided me with some key action items to take forward, as well as opened up communication channels with a number of important stakeholders with whom we can take forward discussions on a bilateral basis.”