Source of Climate Finance and Its Effect on Climate Action and Sustainable Development: A Comparison of Public and Private Climate Change Projects in Ga East Municipal Assembly (GEMA).

Abstract

In the pursuit of sustainable development, climate change presents a significant barrier with intricate linkages to many Sustainable Development Goals (SDGs). The effectiveness of projects aimed at mitigating/adapting to climate change is often contingent upon the funding sources and ownership structures involved among other factors. This study investigates the effects of climate finance on climate action and sustainable development with objectives (i) to examine how public and private climate change projects affect project design and structure in GEMA, (ii) to assess the performance of public and private owned climate change projects in GEMA, and (iii) to analyse how public and private climate change projects affect the achievement of SDGs. A case study was conducted in the Ga East Municipal Assembly (GEMA), comparing mitigation (streetlight installation) and adaptation (drainage construction) projects undertaken by the municipality (public projects) to those initiated by Homeowners Associations (private projects). A mixed-methods approach was adopted, combining quantitative surveys (120 respondents made up of 30 respondents from each of the four projects) with qualitative key informant interviews (12 stakeholders made up of 3 stakeholders from each of the four projects). The interviews revealed significant disparities in the design of public and private projects. Public initiatives led by GEMA exhibited a structured approach to project design, involving extensive stakeholder consultations and adherence to regulatory frameworks, integrating green infrastructure for broader municipal sustainability and resilience. Private initiatives by homeowners' associations were more community-driven, emphasizing localized solutions tailored to neighbourhood-specific needs and preferences. On the performance of projects, the findings showed that both public and private projects were relevant, effective, and impactful but on different scales. Public owned projects covered broader community-wide scope whiles private owned projects emphasized neighbourhood level scope. However, sustainability efforts were more intentional in public projects, with GEMA implementing comprehensive maintenance plans. Also, efficiency in resource allocation was bolder in private projects compared to public projects. Regarding alignment with SDGs, both public and private projects achieved various SDGs including SDG 13, 7, 11 and 17. However, the public projects were more intentional about meeting SDGs due to the projects being integrated with national climate change policies and SDG. On the other hand, meeting some SDGs was rather unintended consequence for private projects.