New York - The Green Climate Fund (GCF) Board has approved UNDP as the first UN agency that will be able to access the Fund’s resources for developing countries, alongside six other entities from the public and private sector.
The accreditation by GCF is a significant step, allowing UNDP to continue its leadership role in scaling up climate change mitigation and adaptation for sustainable development.
The GCF is a new fund created under the United Nations Framework Convention on Climate Change (UNFCCC) aimed at combatting urgent and serious effects of climate change. It is designed to support developing countries move towards low-emission and climate-resilient development.
Accreditation in this first round enables countries to submit initial proposals before the 21st Conference of the Parties of the UNFCCC in Paris in December, where it is hoped world leaders will reach a universal climate agreement.
“UNDP is delighted to have been selected as a first accredited entity for the GCF. We look forward to working closely with developing countries and the Fund in preparing and presenting projects and programmes which will have a transformative impact on the lives of millions of people and will build a climate resilient future for all”, said UNDP Administrator Helen Clark.
The GCF will allocate resources equally towards adaptation and mitigation efforts. Half of adaptation funds are to be allocated to small island developing countries, least developed countries, and African states, with the rest going to other eligible developing countries.
Access to GCF resources will be managed through national, regional and international entities accredited to the Fund.
UNDP warmly welcomes and is proud to be in the company of the other six entities selected in this round: Centre de suivi écologique (CSE) from Senegal Fondo de Promoción de las Áreas Naturales Protegidas del Péru (PROFONANPE); the Secretariat of the Pacific Regional Environment Programme (SPREP); Acumen Fund, Inc. (Acumen); Asian Development Bank (ADB); and Kreditanstalt für Wiederaufbau (KfW).
Climate change is a priority for UNDP. The organization is one of the world’s largest brokers of climate change grants for developing countries in support of sustainable development, with a current portfolio of $1.34 billion in mitigation and adaptation grant-financed projects in over 140 countries, supported by co-financing of $6.7 billion. In addition to UNDP’s own resources, this grant support is delivered in partnership with the Global Environment Facility (GEF) administered trust funds and the Adaptation Fund, as well as other multilateral, bilateral and national partners.
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