Commitments to deliver climate finance to developing countries are longstanding. Developed countries pledged to deliver finance approaching $30 billion between 2010 and 2012, in the context of a commitment to mobilise $100 billion per year from public and private sources by 2020 in the Copenhagen Accord of 2009. These commitments were affirmed in the Cancun Agreements of 2010. In addition, the need to achieve balanced finance for adaptation was recognised, with an emphasis on the needs of particularly vulnerable countries, including small-island developing states (SIDSs), least-developed countries (LDCs), and African states. It was in this context that parties agreed to create the GCF as a new operating entity of the financial mechanism for the UNFCCC. There are now more than 10 international multilateral funds created by the global community to channel climate finance to developing countries, including the Green Climate Fund. Many of these funds have been designed and created as part of efforts to secure global action on climate change. They are products of the global policy process, and adequate investment in them helps to build trust in that process. Effective spending of multilateral climate finance and delivery of successful outcomes are critical in building consensus on the imperative to take action in response to climate change. This paper reviews the key multilateral climate funds and how they are supporting climate action in the AGLC region, with an emphasis on transboundary and integrated programs. The paper identifies barriers in terms of the financing landscape and climate planning process that hinder integrated and transboundary programming and provides recommendations to better incorporate integrated approaches in climate finance.
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