Section 21: Financing for climate change

(1) The Minister responsible for finance shall, in consultation with the Minister, provide for climate change financing, taking into account- (a) viable climate change financing mechanisms at the national level; and (b) international climate change financing mechanisms referred to in article 9 of the Agreement. (2) The financing shall be for purposes of- (a) research, data collection on climate change and systematic observation of climate change, taking into account the need to minimize duplication of effort; (b) financing projects for implementation of climate change actions and measures, including specific technologies, materials, equipment, techniques or practices necessary to implement such projects; and (c) providing grants, loans and incentives to individuals, private entities and local governments for climate change research and innovation in industry, technology, science, academia and policy formulation. (3) The Minister, in consultation with the Minister responsible for finance shall, by statutory instrument, make regulations setting out procedures for accessing the financing referred to in this section.