117 comes to limiting GHG emissions while growing economic activities or enhancing climate resilience — there is a question as to whether incremental change is sufficient or whether greater risks need to be taken in pursuit of greater change, such as adopting a venture capital approach. The GCF is helping drive the transformation required, but are there other opportunities and models that can be applied either within the Bank or with support from the Bank? Having a clear theory of change around how success might be scaled up is very important if such an approach is to be taken. Support early-stage activities A special fund should be established that is resourced internally to support early-stage studies, technical assistance, and/or business development for projects with the potential to attract external climate finance. Guidance and tools Tools should be developed to help identify climate change– related adaptation and mitigation opportunities related to projects, such as total cost benefit analyses and other methods that draw upon evidencebased research and related evaluations. IPCC assessments include many tables that address climate-resilient low-carbon development options that can be adapted into tools. These tools can be used internally and shared with RMCs, stakeholders, and other parties interested in climate change and development. Monitoring, evaluation, and reporting The Bank needs to further develop its in-house capacity for monitoring, evaluating, and reporting, including GHG emissions related to each of its projects. This includes updating GHG emissions accounting systems. Monitoring land use changes associated with Bank projects can help with GHG emissions accounting. This will require project proposals to indicate the areas they will be active in, and locations where projects are delivered. For some projects, these locations will be obvious, for example, with reference to infrastructure. In other cases, it may be more complex; for example, voluntary participation by farmers in an agricultural project may make identifying specific farms challenging. If projects are impacted by climate change, then they should report resilience and adaptation activities; and if a project directly creates GHG emissions, they should report GHG emissions and mitigation efforts. Reporting should be made to the extent that is possible. Where there is limited confidence in the GHG emissions or adaptation elements of a project, this should be indicated using a simple system, e.g., stating high confidence, moderate confidence, or low confidence. By having our own monitoring and reporting in order, the Bank will be able to negotiate international monitoring and reporting standards with other multilateral development banks based on experience of what works across Africa. Reports Annual reports should be published annually. Internal capacity A common theme in evaluations of funds and activities related to CCAP2 is the need for staff within the Bank to be aware of climate change mitigation, low-carbon development, adaptation, and climate resilience in both design and operational stages of projects. This means enhancing the capacity of staff. This is especially important for task managers, just as much for task managers to have time available to address adaptation and mitigation. External capacity Another common theme is the need for climate change–related capacity as well as general project-related capacity in RMCs and the parties that engage with the Bank. Much like the need for internal capacity, parties engaging with the Bank need to have an evidencebased understanding of climate change mitigation and adaptation, and practical ideas on how these issues can be incorporated into their own activities, policies, as well as Bankrelated projects or activities. External capacity development should be designed as a continuous program at a scale capable of reaching everyone that wants to learn about climate-resilient low-carbon development as well as green growth in general; how to access Bank funds; prepare project proposals; plan and deliver projects while also monitoring, evaluating, and reporting on the project; its finances and related costs; and outputs and outcomes. With regards to project capacity, this includes the capacity to prepare project proposals, bid for funds, manage projects, monitor and report finances, manage procurement processes, as well as monitor, evaluate, and report on progress. The Bank should consider training programs and materials, including computer-based training, and working with stakeholders on project proposal development. The Bank should consider partnering with universities to train students in practical aspects of project finance, project management, and monitoring, evaluation, and reporting. The aim is to have people train as soon as possible, ensure students understand the quality of projects and project management required to access finance, and reduce the in-process training required. The Bank is strategically placed to develop a wide ever-growing African Key lessons and recommendations
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