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Consistency case study: Actions supporting Article 2.1c of the Paris Agreement in Rwanda

One of the Paris Agreement’s three long-term goals is to “[make] finance flows consistent with a pathway toward low greenhouse gas emissions and climate-resilient development.” Known as Article 2.1(c) in the treaty document, this goal covers public and private finance and is a critical enabler to make sure we can achieve the other two long-term goals of the Agreement, on mitigation and adaptation.

However, tracking progress toward this finance goal has proven difficult. This new case study from Access to Finance Rwanda and EED Advisory, together with the Finance Working Group of the independent Global Stocktake (iGST), carves new ground by independently assessing how public and private finance flows in Rwanda align with Article 2.1(c).

Rwanda’s experience managing its climate related finances provides an important starting point for conversations around the difficult questions that low-income countries face in balancing food and energy security needs while achieving just transitions toward net-zero emissions. This report offers a blueprint for other low-income countries on how to implement low-carbon strategies that can lead to increasingly ambitious climate action, including in Rwanda’s case, an internationally supported mitigation plan that would reduce GHG emissions by up to 38% in 2030. Finally, the Paris Agreement’s Global Stocktake (GST) can benefit from this case study as a proof-of-concept for how climate finance flows can be assessed in the relatively shallow financial market that characterizes most low- and low-middle income countries.

Download the report to read more about the climate-consistency of finance flows in Rwanda, or watch the webinar recording here.

This is the third in a series of reports applying a novel ODI, WRI, E3G, RMI framework to a diverse set of countries to assess the consistency of their finance flows with the commitments outlined in the Paris Agreement.

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Published February 2, 2022