Yasmine Hamraoui

At the Third United Nations Ocean Conference (UNOC3), the United Nations Capital Development Fund (UNCDF) underscored the urgent need to build a more coordinated, inclusive, and scalable approach to ocean finance. Speaking during the Ocean Action Panel on financing SDG14, UNCDF Executive Secretary Pradeep Kurukulasuriya highlighted between 2015 and 2019, only 1.4 percent of the estimated USD 175 billion needed annually to achieve Sustainable Development Goal 14 was mobilized. Small Island Developing States (SIDS) and Least Developed Countries (LDCs)—which are among the most dependent on ocean resources—receive only a fraction of a fraction of what is needed, capturing less than two percent of this global ocean finance amount despite bearing the brunt of ocean degradation. UNCDF plays a distinct role in closing this gap. With a mandate to unlock finance where it is hardest to reach, UNCDF brings catalytic capital, technical expertise, and policy alignment to underserved markets. At UNOC3, three priorities were advanced: •⁠ ⁠Demonstrating blended finance in action: Through the Global Fund for Coral Reefs, UNCDF has helped mobilize over USD 300 million in grant and investment capital to support reef-positive solutions in 21 countries. •⁠ ⁠Designing de-risking mechanisms for system-wide transformation: UNCDF is co-developing the Plastics Transition Investment Facility with IFC and UNEP, applying blended finance tools to unlock private capital for circular solutions across the plastics value chain. •⁠ ⁠Shaping the future of ocean finance: UNCDF and a coalition of UN organizations and partners have launched the co-design process for the One Ocean Finance Facility—an ambitious effort to pool contributions from ocean-dependent industries and channel them through fit-for-purpose blended finance structures that support country-led priorities and deliver equitable outcomes. The Call for Engagement for the One Ocean Finance Facility is now open. UNCDF—including UNDP, UNEP, UN Global Compact, UN DESA, UNCTAD, UNESCO-IOC, UNWTO, IUCN, and WRI—invites Member States, development partners, industry, and civil society to join this effort to build a more coherent and scalable blended finance architecture dedicated to the ocean. Peter Thomson, Susan C Gardner, Ph.D., Minna Epps, Madhushree Chatterjee, Cynthia Barzuna, Torsten Thiele, Penny Stock, Peter Bryant, Chuck Cooper, Cecile Jolly, Raphaelle Flint, Coral Pasisi, Angelique Pouponneau, Ilana Seid, Meizani Irmadhiany, Clement Lavigne, Olivier Wenden, Davies Makilla, Martin Koehring, Lovisa Bergman, David Vivas Eugui, Alison Clausen, Francine Pickup, Sinikinesh Beyene Jimma, Alfredo Giron Nava, Karen Sack, Midori Paxton, Srilata Kammila, Dorothée Herr, Gareth Padfield, Mats Boesen, Per Andreas W Larsen, Yabanex Batista, Nicole Trudeau, Olivia Rigby, Guiller Lorenzo Cenizal, Dr. Elizabeth Mcleod, Francis Staub

173

4 commentaires

🇪🇺 Europe is rewriting the rules of development cooperation. The new development strategies of several European countries are shifting the focus from altruistic support to initiatives that deliver tangible returns for donor states. Instead of grants based solely on recipients' needs, the emphasis is now on return on investment and aligning aid with the European Union’s strategic interests. An article by Jesse Chase-Lubitz for Devex makes this shift unmistakably clear: most EU countries are cutting their aid budgets—and doing so in a coordinated and systemic way. As Jean Van Wetter, Managing Director of the Belgian development agency Enabel, puts it: “We’re moving away from the idea of aid as charity. It’s now more about partnership—with the expectation of mutual benefits.” Here are just a few examples: 🔵 France plans to cut its development budget by $2.2 billion in 2025—a drop of 11%. 🔵 Germany is reducing its aid by $1.8 billion (8%) while amending its constitution to allow higher defense spending. 🔵 The Netherlands will phase out funding over three years—$326 million in 2025, $543 million in 2026, and $2.6 billion in 2027. 🔵 Finland and Belgium have both announced 25% reductions in aid over the next five years. 🔵 The United Kingdom has lowered its contribution from 0.5% to 0.3% of gross national income. 🔵 Switzerland is cutting 110 million Swiss francs, with further cuts of 321 million planned for 2026–2028. 🔵 Italy reduced its aid budget from $6.6 billion to $6 billion in 2023, then restored it in 2024. Still, it remains well below the UN-recommended target of 0.7% of gross national income.

284

28 commentaires

In reclaiming Public Finance for Climate Resilience, Africa must prioritize public, grant-based financing over debt-heavy or private investment models. Domestic resource mobilization should focus on increasing budgetary allocations for climate-resilient sectors such as agriculture, energy, and social protection. This includes: • Redirecting subsidies from fossil fuels to renewable energy and agroecology. • Establishing national climate funds with transparent governance systems and • Promoting simplified, country-driven access to international climate funds

48