One of the 17 Sustainable Development Goals adopted by world leaders to guide the global development agenda until 2030 involves taking urgent action to combat climate change and its impacts (UN, 2015a). Without access to climate finance, it is impossible for individuals and communities, especially those in developing countries, to implement ambitious climate actions. Although there is as yet no universally agreed definition of climate finance, the common understanding is that climate finance is critical in curbing climate change impacts.
Climate finance availability for youth has been part of several debates in the international arena yet there is no clear picture of what this landscape looks like. The YOUNGO Finance & Markets Working Group has long been advocating for increasing and scaling up access to climate finance for youth. A first report was published on Youth Needs for Climate Finance in May 2022.
The joint report titled ‘Availability of Climate Finance for Youth’ is a collaboration between the Commonwealth Secretariat and YOUNGO, the official children and youth constituency of the United Nations Framework Convention on Climate Change (UNFCCC). The report maps out the availability of climate finance for youth-led actions and in response to the findings, calls for efficient reporting of climate financing along with the standardisation of procedures for accessing funds, fast-tracking private sector engagement, and diversifying funding instruments with a focus on youth.
This second report expands on the previous work and now aims to inform diverse stakeholders (policy-makers, the private sector and civil society) about the landscape of climate finance for youth. In an attempt to do so, we analysed a sample of around 100 funds/initiatives dedicated fully or partially to youth.
