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Global Climate Finance

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  • 1. International climate finance architecture WACDEP Global Technical Coordination Workshop Regional Days 2014, Port of Spain - Trinidad Maika Mueller, WACDEP Programme Assistant Tuesday 24 June 2014 1
  • 2. 1. Objectives • What is the current climate finance landscape? • What are the access modalities to climate finance? • How does the project cycle for funding requests look like? • What are the opportunities available for building water security? • How can GWP access these funds? 2
  • 3. 2. Overview 3
  • 4. 2. Overview 4
  • 5. 3. Global Environmental Facilities (GEF) • Established in 1991 to provide grants for projects for biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants • Provided USD 12.5 billion in grants and leveraged USD 58 billion in co-financing for 3,690 projects in 165 developing countries • GEF administers the LDCF and SCCF  Recently: GEF launched new strategy (GEF2020) – pledged USD 4.43 billion over next four years 5
  • 6. 3.1. The Special Climate Change Fund (SCCF) • Established in 2001 (COP 7) to support adaptation and technology transfer in all developing country parties to the UNFCCC • Two active funding window: Adaptation window (USD 201.75 million/50 projects) and Technology Transfer window (USD 40.50 million/ 8 projects), (66 countries in total) • Adaptation activities: water resources management, land management, agriculture, health, infrastructure development, fragile ecosystems, and coastal zone management • Recently: Scope expanded to non-LDCS to support preparation of NAPs process 6
  • 7. 3.2. SCCF Distribution 7
  • 8. 3.3. Least Developed Countries Fund (LDCF) • Established in 2001 (COP 7) to finances the preparation and implementation of NAPAs/NAPs in response to urgent and immediate adaptation needs in LDCs • Strengthening Climate Resilient in sectors/resources such as water; agriculture and food security; health; disaster risk management and prevention; infrastructure; and fragile ecosystems • To date, 51 LDCs have accessed USD 12.20 million • Recently: Scope expanded to non-LDCS to support preparation of NAPs process 8
  • 9. 3.4. LDCS Distribution 9
  • 10. 3.5. Access Modalities and Project Circle The application for funding has to be submitted through a selected GEF Agency (ADB, AFDB, EBRD, FAO, IDB, IFAD, UNDP, UNEP, UNIDO, World Bank) LDCF/SCCF differentiate between two ways of funding request: 1. Full-sized Projects (FSP) (over USD 1 million) 2. Medium-sized Project (MSP) (as of or above USD 1 million) 10
  • 11. 3.6. Criteria for Approval 1. Basic project idea: Business-as-Usual (BAU) development for the targeted sector, climate change vulnerabilities and specific adaptation activities 2. Project response to country priority: identified in national communication, programmes, policies, NAPA/ NAPs 3. Implementation setup: Who will implement the project and how?;coordinated with related projects to avoid duplication? 4. Indicative budget and co-financing 5. Monitoring and Evaluation Framework 6. Strategic Results Framework 11
  • 12. 4. The Adaptation Fund (AF) • Established in 2007 to finance the full costs of country- driven adaptation projects/programmes to increase climate resilience • Projects focus and distribution of funds: water management, agriculture and food security (19%/18%), disaster risk reduction (13%), coastal zone management (12%) • To date, USD 225 million provided for 34 countries Recently: new fundraising target of USD 80 million for 2014/2015 12
  • 13. 4.1. Adaptation Projects under AF Adaptation project/programme is defined as a set of activities aimed at addressing the adverse impacts of and risks posed by climate change • produce visible and tangible results on the ground by reducing vulnerability • increase the adaptive capacity of human and natural systems to respond to the impacts of climate change • at community, national, regional and transboundary level 13
  • 14. 4.2. Access Modalities 1. Direct Access: • Developing countries can nominate domestic institutions for accreditation as NIEs • Endorse proposals from their countries, and direct recipients of funding 2. Regional Implementing Entities (RIE) • Countries can submit project proposals through officially registered RIE 3. Multilateral Implementing Entities (MIE) • International Organizations (UNDP, WMO, AfDB, Worldbank, etc.) 14
  • 15. 4.3. Project Circle Similar to LDCF/SCCF adaptation activities are differentiate between two categories: 1. Small-size projects/programmes (up to USD 1 million); 2. Regular projects/programmes (over USD 1 million) 15
  • 16. 5. Green Climate Fund (GCF) • Fund will plays a key role in channeling “a significant share of new multilateral funding for adaptation projects” • Expected to be fully operationalized by end of 2014 • Precise volume of finance is still unclear • 50:50 balance between mitigation and adaptation • Should build on experiences and lessons learned from the CIF,GEF, AF, UNFCCC programmes (indicators, tools, procedures) 16
  • 17. 5.1. Initial Results Management Framework  Paradigm shift towards to “increased climate-resilient sustainable development” Four strategic-level impacts: 1. Increased resilience and enhanced livelihoods of the most vulnerable people, communities and regions; 2. Increased resilience of health and well-being, and food and water security; 4. Increased resilience of infrastructure and the built environment to climate change threats; and 4. Improved resilience of ecosystems.  Align with country-priorities identified in NAPs process 17
  • 18. 4.1. Initial Results Management Framework Project/programme level outcomes for adaptation: 1) Strengthened government institutional and regulatory systems for climate-responsive development planning; 2) Increased generation and use of climate information in decision-making; 3) Strengthened adaptive capacity and reduced exposure to climate risks; 4) Strengthened awareness of climate threats and risk- reduction processes; 18
  • 19. 5. How can GWP access these funds? • All funds provide funding windows for projects aim at strengthening climate resilient in the water sector GEF - LDCF/SCCF: • UNDP/ GEF and GWP signed MoU to collaborate on climate change adaptation under GSP-NAP AF: • Raise funding through RIE and MIE (UNDP) GCF: • GWP is accrediated as observer. Next step: accrediation as an Implementing Agency 19
  • 20. 6. Discussion • What are your experiences with raising funds? What have RWP done in this field? • What are challenges/ bottlenecks you experience? • How can GWP maximize opportunities and move forward? More information: www.climatefinanceoptions.org 20