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Tag Archives: climate finance

GCF lays climate finance footing in Africa, Pacific

Howard Bamsey

Recent expansion of assistance by the Green Climate Fund (GCF) to countries preparing to implement climate finance is targeting Africa and the Pacific. The GCF has provided $700,000 to the Ministry of Natural Resources of Rwanda, a GCF direct access Accredited Entity, to assist the development of projects under the Fund’s Project Preparation Facility (PPF). This is an additional tranche within a ...

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GCF disburses first instalment of Liberia $2.2m climate grant

Ellen Johnson Sirleaf

The Government of Liberia recently received $805,000 as part of a $2.2 million Green Climate Fund (GCF) grant to support its national climate adaptation planning process. The release of funds to the West African country represents GCF’s first transfer of adaptation resources to a least developed country (LDC). Liberia will use the GCF funds to kick-start a cross-government approach to ...

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Ecuador benefits as GCF makes flagship REDD+ transfer

Tarsicio Granizo

The Green Climate Fund (GCF) has commenced the transfer of its first REDD+ disbursement to help Ecuador reduce greenhouse gas (GHG) emissions and protect its forests. The current transfer of $7.9 million to the United Nations Development Programme (UNDP), a GCF Accredited Entity, marks a key milestone for the Fund. It is the first time GCF is distributing climate finance ...

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GCF Board meeting to refine climate finance flow

Ewen McDonald

The 17th meeting of the Green Climate Fund (GCF) Board opened on Wednesday, July 5, 2017, with a major goal to strengthen the Fund’s focus on targeting strong climate finance initiatives. The GCF Board’s 24 members will work to strengthen the policies underpinning GCF’s support for projects that reduce emissions and boost the resilience of communities to climate change. More ...

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GCF boosts Vanuatu’s capacity to access climate finance

Charlot Salwai

The Green Climate Fund (GCF) has disbursed $296,000 to Vanuatu to increase this vulnerable island country’s capacity to access climate finance. The transfer of these funds is part of GCF’s readiness support, which assists developing countries ensure the climate finance they receive matches their own development needs. GCF is working with its delivery partner the Global Green Growth Institute, a Korean-based international ...

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Nigeria develops funding proposal to access climate fund

Nigeria-GCF-Forum

Bothered by the fact that it is yet to access the the Green Climate Fund (GCF), Nigeria has kick-started moves to turn things around and ensure the financial capability to battle the effects of the changing weather. The Department of Climate Change (DCC) in the Federal Ministry of Environment, in its capacity as the nation’s Designated National Authority (DNA) to ...

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V20 economies expand, announce new climate finance initiatives

V20

Climate-vulnerable economies comprising the Vulnerable Twenty (V20) Group on Sunday, April 23, 2017 in Washington, D.C. expanded its membership, and announced it would pioneer innovation in climate finance to help secure continued economic development among its members while tackling the costly economic impacts of climate change.  The group said it is seeking ambitious climate action from G20 economies. V20 officially ...

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Protocol may pave way for local authorities to access climate finance

UCLG-Africa

Access to climate finance by institutions and governments received a boost last week when two international organisations decided to collaborate in that regard. This came about on Friday, April 7, 2017 in Rabat, Morocco when Pan-African organisation, United Cities and Local Governments of Africa (UCLG Africa), and ENERGIES 2050, an NGO that intervenes on the International scene to implement a low ...

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GCF approves $755m in funding for eight projects

Howard Bamsey

The first Green Climate Fund (GCF) Board meeting of 2017 concluded on Thursday, April 6, 2017 by approving eight new projects and programmes valued at $755 million in GCF funding to assist developing countries respond to climate change. The decisions were reached during the 16th meeting of the Board (B.16) at GCF Headquarters in Songdo, Republic of Korea. Taking the eight new ...

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How to raise trillions for green investments

Henry M. Paulson Jr

Henry M. Paulson Jr., the chairman of the Paulson Institute, a former Treasury secretary and chief executive of Goldman Sachs, in this op-ed published recently in the New York Times, suggests way to raise trillions of dollars for investments sustainable development ventures Saving our planet from the worst effects of climate change won’t be cheap. A new report from the United Nations says ...

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