Presentation - The green climate fund
What is the Green Climate Fund?
The Green Climate Fund (GCF) was established in 2010 by 194 countries signatories of the United Nations Framework Convention on Climate Change (UNFCCC). Its main objective is to provide a global response to climate change challenges by mobilizing large-scale funds for investing in programs and projects that limit or reduce the emissions of green house gases (GHG) and contribute to the adaptation of climate change in developing countries.
The GCF pays special attention to those societies that are highly vulnerable to climate change, particularly the least developed countries, small and developing islands, and African countries.
Its headquarters are in Songdo city, Republic of South Korea, and it is governed by a 24-member Board, including 12 representatives from developed countries and 12 representatives from developing countries.
Fundraising and cooperating nations
GCF funds are raised thanks to the joint effort of various countries, cities, private companies and civil society. These efforts have resulted in joint mobilization of USD100 billion by 2020 from a variety of sources.
As of July 2017, the GCF had raised USD 10.1 billion in donations from 43 countries. Among the countries that have made the greatest contribution to the GCF are Japan with USD 1,500 million, the United Kingdom with USD 1,211 million, France with USD 1,035 million and Germany with USD 1,003 million, to name a few.
These funds are intended to finance programs and projects of mitigation and adaptation to climate change in developing countries, in line with the national priorities determined by their respective National Designated Authority (NDA) or focal point in each country, within the objectives and results framework of the GCF.
The National Designated Authority
The National Designated Authority (NDA) is the governmental institution that acts as an interlocutor between each country and the GCF. The NDA determines national priorities for funding on issues regarding emissions reduction and resilience to climate change, as well as providing comprehensive strategic oversight of GCF activities in each country. Therefore, programs and projects to be financed must be aligned with each country’s national development policies and priorities.
The NDA’s main responsibilities include:
- Determining GCF funding priorities in each country.
- Strategically monitor projects to ensure they are aligned with national priorities.
- Deliver Accredited Entities (AE) the non-objection letters for programs and projects.
- Review and approve the proposals for Readiness support.
- Bring together national stakeholders involved in preparing projects eligible for GCF funding.
- Nominate institutions to be accredited as direct access entities of the GCF.
Peru’s NDA is the Ministry of Economy and Finance (MEF). Any program or project applying for GCF resources must obtain the non-objection from MEF. As funding proposals are submitted for mitigation and/or adaptation to climate change, the technical opinion of the Ministry of the Environment and other ministries/agencies* that may be relevant to the program or project is also required.
*Agencies with competence in mitigation and adaptation to climate change.
|AREA FOR MITIGATION MEASURES||MINISTRY PARTICIPATING IN AD HOC COMMISSION||WEB PAGE|
|Energy||Ministry of Energy and Mines||http://www.minem.gob.pe/|
|Transport||Ministry of Transport and Communications||http://www.mtc.gob.pe/|
|Industrial processes||Ministry of Production||http://www.produce.gob.pe/|
|Agriculture and forestry||Ministry of Agriculture||http://www.minagri.gob.pe/|
|Waste management||Ministry of the Environment||http://www.minam.gob.pe/|
|AREA FOR ADAPTATION MEASURES||MINISTRY PARTICIPATING IN AD HOC COMMISSION||WEB PAGE|
|Water||Ministry of Agriculture, Ministry of Housing, Construction and Sanitation|
|Agriculture Forests||Ministry of Agriculture||http://www.minagri.gob.pe/|
|Health||Ministry of Health||http://www.minsa.gob.pe/|
|Fisheries and aquiculture||Ministry of Production||http://www.produce.gob.pe/|
For more information on the National Procedure to Access GCF Financing, download MEF’s Operations Manual (for Peru) by clicking here.
Further information can be found in our FAQ section.