Vientiane, February 4 – The Global Green Growth Institute (GGGI) Laos Country Team held a Technical Workshop today on Climate Finance in partnership with the Department of Climate Change (DCC) of Ministry of Natural Resources and Environment (MoNRE). This event included representatives from the technical divisions of DCC and Green Climate Fund (GCF) National Designated Authority (NDA) as well as key stakeholders from the Department of International Cooperation and the Department of Planning of Ministry of Planning and Investment (MPI), the Ministry of Public Works and Transport, FAO, GIZ and EU.
The objectives of this half-day technical workshop on climate finance were to discuss the importance and relevance of monitoring climate finance and related reporting requirements to help Lao PDR deliver on its climate change commitments. In order to manage Lao PDR’s response to climate change, track progress over time and meet international obligations, it is essential to continually improve monitoring and tracking of climate finance flows nationally.
The workshop commenced with the DCC sharing reporting requirements under the United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement. Representatives from The Council for the Development of Cambodia shared their experiences tracking climate change in their national online ODA database. Emphasizing that although it may not be perfect, it’s the process of learning by doing and adapting the system to meet the needs of various stakeholders that has made the database a valuable tool for the Royal Government of Cambodia and development partners alike. Representatives of the MPI shared information about recent developments and future plans for the ODA Management Information System (MIS). And initial ideas about opportunities to track climate finance in the MIS were discussed.
GGGI’s Annaka Peterson said, “As the country develops information systems to manage the budget and external financing, there is an opportunity to integrate climate change into these systems.” This will not only help to provide DCC with the information they need to report to the UNFCCC, but it will also help the Government of Lao PDR to track progress and identify gaps and priorities for climate financing.
As a next step MoNRE and MPI officials will meet and work together to discuss ways to integrate reporting needs for international conventions that Lao PDR is party to, like the Paris Agreement, into the MIS. GGGI will continue to support the Government of Lao PDR’s efforts to mainstream climate change and green growth into the upcoming 9th National Socio-Economic Development Plan, track progress tackling climate change, and mobilize investments to support climate resilient development.