CCAP President Ned Helme met with newly-elected Green Climate Fund (GCF) co-chair Governor Jose Maria Salceda (Philippines) while in the Philippines for a very productive discussion. This meeting came about while Helme was in Manila to co-chair CCAP’s Third MAIN Asia Dialogue and meet with key Philippines officials to discuss the development of Nationally Appropriate Mitigations Actions (NAMAs).
Helme and Gov. Salceda discussed the role of NAMAs in the GCF. Helme emphasized how NAMAs present a key opportunity for the GCF to move toward the “paradigm shift” in mitigation policy that was discussed in Paris earlier this month. Gov. Salceda shared his optimism about the progress that was made towards advancing climate mitigation and adaptation through the GCF.
As the GCF proceeds in defining its business model for supporting climate mitigation, there is much that can be learned from the UK-German NAMA Facility. GCF board members agreed on selecting mitigation policies that reflect “paradigm shifts” and that is the heart of the NAMA concept as defined by the UK-German NAMA Facility which will announce the first NAMA winners at the Warsaw COP. The NAMA Facility was conceived to support country-led NAMAs that aim at “catalyzing transformational change towards a low carbon society.”
Facilitating this “race to the top” mentality will be influential in winning significant pledges to the GCF from developed countries. In addition, contributing countries will be looking for how financial support through the GCF combines with government policy changes to attract significant domestic and international private sector investment. Through new mandates and incentives, and by reducing investment risk, the key is to create an environment where the private sector shifts away from business-as-usual and chooses to invest in low carbon technologies and infrastructure consistent with developing country sustainable development priorities.