The Paris Agreement adopted in December 2015, represents a watershed event in the fight to address climate change. For the first time, almost all countries now have climate commitments in the form of Nationally Determined Contributions (NDCs), or post-2020 pledges for emissions reductions. Converting these NDCs into implementable policies, programs and investment strategies will be the key next step on to fully implement the NDCs.
Our analysis of key developing countries, shows that developing countries in particular need additional support to convert their INDCs, into actionable long-term programs on the ground.
With over $10 billion in donor pledges, the Green Climate Fund (GCF) continues to be seen as one of the primary mechanisms for funding climate actions in developing countries and for supporting the implementation of the Paris Agreement. In 2015, the GCF continued to make strides in becoming fully operational, and approved its first set of proposals for funding in November 2015.
GCF and other international climate finance support, such as the NAMA Facility, can help countries to develop climate mitigation and adaptation programs, especially in light of implementing a country’s NDC. The challenge, however, continues to be developing proposals that combine policy reforms and financial mechanisms to mobilize additional financial resources and that can lead to a paradigm shift towards low-carbon development. Much of CCAP’s work with developing countries is aimed at identifying opportunities to reform policies and establish necessary institutional arrangements to promote low-carbon development, and to design effective financial mechanisms that can mobilize private sector investment.
What we do:
- CCAP has been working with key financial institutions such as the Green Climate Fund (GCF) the NAMA Facility and other and other multilateral, bilateral, and private sector sources of climate finance to encourage financial flows towards transformational climate strategies in developing countries.
- Leading up to and during GCF board meetings, CCAP works closely with board members from developing and developed countries, as well as members of the GCF Secretariat, through policy dinners and lunches, bi-lateral meetings and direct communications.
- Our off-the-record discussions strengthen consensus around the need to enhance s for project preparation to ensure country-driven implementation of ambitious action and to build a pipeline of projects that contribute to INDC goals.