Green Climate Fund: Central Africa lags behind in climate finance mobilization

 

 

The 22nd Board Meeting of the Green Climate Fund (GCF) ended on 28 February 2019 with a range of key decisions aimed at strengthening climate-oriented financing. The Board approved nine new climate resilience and low emission projects.

 

 

Of the nine (09) projects approved, no Central African country was named as a beneficiary either in the Projects and Programs (FP) category or in the Simplified Approval Process (SAP). Similarly, of the 09 entities whose applications for accreditation were approved by the Council, none originated from a Central African country.

 

 

The 22nd meeting of the Green Climate Fund (GCF) Board ended today, with a raft of decisions to strengthen GCF for its first replenishment. Following the selection of Yannick Glemarec as its new Executive Director at the start of the meeting, the Board then approved nine new climate resilience and low emission projects totaling USD 440 million in GCF resources, and took steps to strengthen operations, reinforce standards and close policy gaps. The meeting also approved the selection of nine new project partners to become Accredited Entities to GCF.

 



Co-Chair Nagmeldin Goutbi Elhassan Mahmoud stated, “We have taken a series of positive decisions at this Board meeting that set us on a path for a successful and ambitious replenishment of GCF, in particular the selection of Yannick Glemarec as our new Executive Director.”

 


Co-Chair Josceline Wheatley stated, “The Board has worked together in a positive spirit this week to expand our portfolio, improve our governance, and strengthen GCF’s operations.”

 



Javier Manzanares, Executive Director ad interim, stated, “GCF now has a USD 5 billion portfolio in 97 countries supporting low-emission, climate-resilient development. With decisions to ensure better governance, new project approvals, and a reinforced readiness programme, this Board meeting has left us in great shape for our first replenishment.”

 



The nine new project approvals bring GCF’s portfolio to a total of 102 projects and programmes, committing USD 5 billion of GCF resources for climate action in 97 developing countries. Including co-financing, the portfolio channels USD 17.7 billion in climate finance through its network of 84 Accredited Entities. The new approvals include the first REDD+ results-based payments to be financed, relating to the Brazilian Amazon.

 



Providing readiness support to build the capacity of developing countries is a key part of GCF’s activities. The Board took note of the evaluation of the Readiness and Preparatory Support Programme by the Independent Evaluation Unit and adopted a work programme and budget that builds upon the evaluation findings and recommendations and provides USD 122.5 million for 2019 for a new phase of readiness support to developing countries.

 



Ahead of a pledging conference for the first replenishment of GCF later this year, the Board meeting also moved to complete the policies and standards that guide GCF’s climate activities. New investment criteria indicators will strengthen the implementation of the investment framework, whilst a policy on cancellation and restructuring of projects will further reinforce the good management of its portfolio of projects. The Board also welcomed recommendations from the Independent Evaluation Unit on how to improve the Results Management Framework, as well as a management response and action plan. The adoption of a policy on protection from sexual exploitation, sexual abuse and sexual harassment, together with guidelines and procedures for the Independent Redress Mechanism ensures that GCF remains at the forefront of international efforts on safeguards and standards.

 



End notes

The twenty second GCF Board meeting approved the following projects and programmes:

  • FP100 – USD 96.5 million for REDD+ results-based payments for results achieved by Brazil in the Amazon biome in 2014 and 2015 with UNDP
  • FP101 – USD 8.0 million for Resilient Rural Belize (Be-Resilient) with IFAD
  • FP102 – USD 29.6 million for Mali solar rural electrification project with BOAD
  • FP103 – USD 18.8 million for Promotion of Climate-Friendly Cooking: Kenya and Senegal with GIZ
  • FP104 – USD 100 million for Nigeria Solar IPP Support Program with AFC
  • FP105 – USD 69.6 million for BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs in Benin, Burkina Faso, Guinea-Bissau, Mali, the Niger, and Togo with BOAD
  • FP106 – USD 100 million for Embedded Generation Investment Programme (EGIP) in South Africa with DBSA

 

 

The following projects were also approved under the Simplified Approval Process (SAP):

  • SAP005 – USD 9.0 million for Enhanced climate resilience of rural communities in central and north Benin through the implementation of ecosystem-based adaptation (EbA) in forest and agricultural landscapes with UN Environment
  • SAP006 – USD 8.9 million for Building resilience of communities living in landscapes threatened under climate change through an ecosystems-based adaptation approach in Namibia with EIF

 

 

The GCF Board also approved the accreditation application of the following entities:

  • Alternative Energy Promotion Centre (AEPC) based in Nepal
  • Environmental Project Implementation Unit (EPIU) of the Ministry of Nature Protection of the Republic of Armenia
  • Fondo Mexicano para la Conservación de la Naturaleza A.C. (FMCN) based in Mexico
  • National Fund for Environment and Climate (FNEC) of Benin
  • Pacific Community (SPC) based in New Caledonia
  • JS Bank Limited (JS Bank) based in Pakistan
  • Attijariwafa Bank (AWB) based in Morocco
  • Macquarie Alternative Assets Management Limited (MAAML) based in Australia
  • Luxembourg Agency for Development Cooperation (LuxDev) based in Luxembourg

Read more...

Go back

CBFP News

WWF: Rainforest deforestation more than doubled under cover of coronavirus -DW

Tropical rainforests shrank by 6,500 square kilometers in March — an area seven times the size of Berlin. Criminal groups are taking advantage of the pandemic and the unemployed are getting desperate, the WWF said.

Read more …

Nouabalé-Ndoki National Park Monthly update April 2020

"At a time when many countries are beginning their gradual deconfinement and when there is a glimmer of hope on the horizon of returning to normal life, I wanted to share with you some good news that also fills us with hope for the future of the Nouabalé-Ndoki National Park."

Read more …

Resources and follow-up from the virtual FAO-EcoAgriculture Partners Roundtable

Last April 30th FAO and EcoAgriculture Partners organized a virtual Roundtable on Territorial Perspectives for Development, in which over 170 people participated.

Read more …

ATIBT -CBFP: Private Sector mobilized around the CBFP Facilitator of the Federal Republic of Germany

ATIBT co-facilitated the mobilization of the private sector of the timber sector to participate in the first meeting of the private sector college of Congo Basin Forest Partnership with the new facilitator Dr Christian Ruck and his team German Facilitation.

Read more …

Development and institutionalization of a PAFC certification system for the Congo basin: opening of the second public consultation on Sustainable Forest Management Certification Standard, 23 May 2020 - 22 June 2020

This second public consultation will be open for a period of 30 days from tomorrow Saturday the 23rd of May 2020 and will be closed on Monday the 22nd of June 2020. The public consultation is open to all stakeholders of forest management in the Congo Basin interested in participating to the PAFC Congo Basin certification standards development process.

Read more …

Forest defenders on the COVID-19 frontline stand ready to assist the global EU response – Fern

These efforts go hand in hand with ensuring continued responsible management of natural resources and preventing unsustainably and illegally sourced forest commodities. In the Democratic Republic of Congo, forest-monitoring organisations Observatoire de la Gouvernance Forestière (OGF) and Réseau des observateurs indépendants des ressources naturelles (RENOI) are set to carry out COVID awareness-raising in at-risk forest areas, and will also assess COVID’s impact on forest management and governance commitments under the Central African Forest Initiative (CAFI). Across the Congo Basin, fears that a proper lack of oversight may put forests and forest peoples in danger are looming despite emerging initiatives.

Read more …

22 May 2020 International Day for Biological Diversity

The theme of the 2020 International Day for Biological Diversity is “Our Solutions are in Nature”. It shows that "Biodiversity remains the answer to a number of sustainable development challenges that we all face. From nature-based solutions to climate, to food and water security, and sustainable livelihoods, biodiversity remains the basis for a sustainable future."

Read more …

CBFP News Archive

2024

There are no news items for this period.