What is the Green Climate Fund?
The Green Climate Fund (GCF) is an operating entity of the Financial Mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). The GCF became operational in May 2014, and has received nearly 10.2 billion in funding pledges from over 42 countries as of July 2016. Funds from the GCF are to be used to implement climate change mitigation and adaptation projects/programmes.
Who can apply for GCF funding?
The funds from the GCF will flow directly to Accredited Entities(AEs) for the project/programme implementation. AEs can be sub-national, national, regional and international entities with are the public, private or non-governmental. Therefore, the GCF has adopted “fit-for-purpose” application procedures for entities seeking accreditation. The fit-for-purpose approach allows AEs who will implement smaller, financially simpler and less environmentally and socially risky change as a result of the level of accreditation selected.
What is the Readiness Programme?
The Readiness Programme builds the institutional capacity of national entities, with a focus on enabling direct access to climate finance. It is delivered through supporting entities to be accredited to the Fund. This is critical, as it is through the joint work of National Designated Authorities (NDAs) and accredited entities (AEs) that a developing country’s projects and programmes are proposed, with accredited entities channeling funding for such projects.
What is the GCF Readiness Programme in Uzbekistan?
The project goal is to support the Government of Uzbekistan in strengthening their national capacities to effectively and efficiently plan for, access, manage, deploy and monitor climate financing in particular through the GCF. These activities shall be planned and implemented in line with national policies and priorities.
What is the “Direct Access” for National Entities?
Under direct access, national institutions can receive finance directly from the international funds without going through another international institution. Many existing international funds require recipients of finance to use international intermediaries—often multilateral institutions or bilateral entities—to manage any funds received.
National Designated Authority (NDA)
NDA responsible for overseeing all funding coming into the country from the fund. The NDA is the point of communication with the GCF and undertakes a wide range of functions, which include aligning activities with national sustainable development objectives and frameworks. The GCF also uses the term focal point to refer to institutions playing the role of an NDA.
National Implementing Entities (NEI)
NEI responsible for overseeing implementation of individual initiatives supported by the funds. Under the direct access, these institutions can be public of private, subnational, national, or regional, as long as they meet the GCF’s accreditation standards. Countries can access GCF funding through multiple institutions. Their role is to ensure that projects follow the fund’s objectives and meet its fiduciary standards and social safeguards.
What is the Mitigation of Climate Change?
Climate Change Mitigation refers to efforts to reduce or prevent emission of greenhouse gases. Mitigation can mean using new technologies and renewable energies, making older equipment more energy efficient, or changing management practices or consumer behavior.
What is the Adaptation to Climate Change?
Adaptation to global warming is a response to global warming that seeks to reduce the vulnerability of social and biological systems to current climate change and thus offset the effects of global warming.
What is the Climate Change?
Climate change refers to any significant change in the measures of climate lasting for an extended period of time. In other words, climate change includes major changes in temperature, precipitation, or wind patterns, among others, that occur over several decades or longer.
What is the Climate Finance?
Resources provided to projects generating (or expected to generate) greenhouse gas (or carbon) emission reductions in the form of the purchase of such emission reductions.