A newly released report provides guidance on how to support waste management related climate mitigation in developing countries.
The report was prepared in conjunction with an international workshop named “Helping Cities to create bankable projects for municipal solid waste management”. The workshop was held under the auspices of the Climate and Clean Air Coalition, a global initiative to reduce short-lived climate pollutants (SLCPs). The event was co-organised with the International Solid Waste Association (ISWA) and hosted by Veolia in September last year in the run up to the climate conference in Paris. The workshop brought together experience from finance institutions, sector experts and five cities from developing countries, Buenos Aires, Argentina; Cebu City, Philippines; Addis Ababa, Ethiopia; Amman, Jordan and Battambang, Cambodia.
The Paris Agreement makes no mention of waste management, but emphasises the need for urgent, short term actions. One of the important focus areas is short-lived climate pollutants, which can be readily and cost effectively reduced through climate mitigation programmes. Methane emissions in the waste sector of developing countries can play an important role here.
NEFCO’s Ash Sharma showcased its experience in supporting waste infrastructure in Eastern Europe, Latin America and Africa and highlighted lessons learnt. In particular, reference was made to waste sector climate programmes known as Nationally Appropriate Mitigation Actions (NAMAs) which can offer an opportunity to combine government policies with financial instruments. These in turn can incentivise private investment, mobilise domestic finances and leverage international support from donor, funds and institutions such as the recently established Green Climate Fund and create a potential pipeline of bankable investments. NEFCO is currently working on such NAMA programmes in this sector in Peru and Mozambique, prioritising waste reduction and resource recovery.
The outcomes of the workshop will guide further development of the CCAC’s work in assisting developing countries on financing waste management related climate mitigation in the near term and form an important resource for this urgent and growing environmental challenge.
NEFCO has been a partner of the Coalition since 2013 and is a Lead Partner in the CCAC Finance Initiative.