Under Papua New Guinea's Climate Compatible Development Policy the country is seeking to "ensure continuous climate financing from government and simultaneously mobilize additional funding from multilateral, bilateral and private sector for the collective benefit of all as well as coordinate on how to effectively manage them.” Seven strategies are being pursued to achieve this outcome:1. Ensure funding is sourced through the recurrent budget, development grants and regulatory levies; 2. Ensure partnership in implementing climate change funding mechanism through regulatory levies; 3. Create or identify National Climate Change Implementation Funding Entity to disburse multilateral and Bilateral Funding, the Green Climate Fund and other ODA funds; 4. Create a National Climate Compatible Development Fund; 5. Coordinate the establishment of a system for Funding Mechanism of Loss and Damage; 6. Implement improved financial management practices to ensure that there are resources to maintain and develop capability to deliver business objectives; and 7. Provide accessible and high quality financial information and support.
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