Governance & financial management support to Initiative for Effective Adaptation and Resilience
Department of Foreign Affairs (Ireland), Global
As part of Mokoro’s drawdown contract with the Department of Foreign Affairs “to support a new approach to Financial Risk Management in the Development Co-operation Africa Division”, Mokoro provided support for Ireland’s engagements with LIFE-AR to improve its governance and financial management arrangements. The assignment, led by Mark Minford, was particularly interested in the effectiveness of LIFE-AR as a funding mechanism.
The Least Developed Countries (LDC’s) Initiative for Effective Adaptation and Resilience (LIFE-AR), which was launched at the 2019 Climate Summit, is an LDC-led, LDC-owned initiative, which serves as one of the primary vehicles for delivering the LDC group’s 2050 Vision for a climate resilient future. LIFE-AR aims to engage with and benefit all LDCs to develop a long-term vision that strengthens LDC’s institutions, structures and systems.
Mokoro’s analysis and advice comprised the following components:
- Governance and Flow of Funds: Summary analysis of LIFE-ARs financial inflows and outflows since its inception, highlighting how funds have flowed to countries, projects and workstreams of the LIFE-AR Strategy, and a description of the governance, financial flow and financial management arrangements relating to the flow of funds.
- Risks: assessment of the governance and financial management arrangements to identify the key financial, governance and fiduciary risks.
- Comparative Governance Models: review of the governance arrangements and financial mechanisms to ensure funds reach the local level, that have been included in other similar vertical funding mechanisms, including climate funds.
Mokoro also provided ad hoc advice related to LIFE-AR board papers. The output reports remain with the client for internal use.