UNDP urges Govt. to unlock private finance, align institutions to meet climate goals

UNITED Nations Development Programme (UNDP) Sri Lanka Resident Representative Azusa Kubota has urged the Government to move swiftly to turn its climate ambitions into concrete action by mobilising large-scale financing and strengthening coordination across public and private institutions.

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She said this at the launch of the National Climate Finance Strategy on Friday.

She said Sri Lanka's updated Nationally Determined Contributions (NDCs), submitted last month, reflect a higher level of ambition to cut emissions, enhance climate adaptation, and address loss and damage.

The country's financing needs for mitigation alone are estimated at over $10 billion for the 2021-2030 period, not accounting for the new targets, meaning the real requirement will be significantly higher.