Financial Instruments and Mechanisms for Climate Change Programs in Latin America and the Caribbean: A Guide for Ministries of Finance
Developing countries could receive international climate financing through diverse resource streams (private investment, traditional development aid, dedicated national funds, carbon markets, etc.), but it is fragmented both in terms of its source as well as its destination (various line ministries, general budget support, national implementing agencies, private sector, etc.). Additionally, application processes vary both in length and requirements. It is more effective and politically tenable for countries to centralize their climate change portfolios, both financially within the Ministries of Finance, and policy wise in a national climate change program.