Green Climate Fund Readiness Programme
The Green Climate Fund (GCF) was established in 2010 as an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC), designed to disburse $100 billion per year of new and additional resources by 2020 for addressing climate change. Access to Fund resources is given through national, regional and international implementing entities accredited by the Fund’s Board. Direct access by national public and private entities will be a key feature of the Fund in line with a GCF’s commitment to country ownership.
The GCF Readiness Programme, a joint partnership between UNDP, UNEP, and World Resource Institute (WRI), is a global programme to support countries in enhancing access to international climate finance. It is currently being implemented in nine countries, including Ghana, and was originally set up to provide readiness support for a duration of two years.
The objective of the GCF Readiness Programme is to support the Government of Ghana in strengthening their national capacities to effectively and efficiently plan for, access, manage, deploy and monitor climate financing in particular through the GCF.
The Programme targets two important aspects: access to funds and private sector engagement. Both will require significant preparatory work in many countries before GCF financing will be possible at scale. The Programme focuses on a range of preparatory activities a) to build and strengthen the institutional capacity of national entities in Ghana, with a focus on enabling direct access; and b) to help Ghana prepare climate change mitigation and adaptation of investment strategies, programmes and projects, including through the active involvement of the private sector. In Ghana, the Programme seeks to achieve the following four key results (each of the outcome areas led by either UNDP or UNEP):
- Strengthened capacity of institutions to enable access the GCF (UNEP)
- Enhanced coordination among stakeholders and institutions of national and sub-national entities to manage and deliver climate finance (UNDP)
- Development of a system for identifying, prioritizing, and developing bankable and measurable climate change programs/projects (UNDP)
- Leveraging of private sector resources to scale up climate change solutions (UNEP)
A number of key outputs has been delivered by the Programme, such as:
- NDA’s Operations Manual: to define the key obligations of Ghana’s National Designated Authority (NDA) of the GCF and provide guidance on its day-to-day activities for staff and all relevant stakeholders.
- Climate Change Projects’ Prioritisation Tool: to aid the NDA and its technical advisory committee (TAC) in identifying, prioritising and selecting bankable climate change projects (adaptation/mitigation) that can be developed into proposals for submission for funding approval by the GCF.
- Climate Finance Tracking Tool: to enable Ghanaian public sector institutions identify climate financing, track and report on them to the Ministry of Finance.
These tools are available on the Ghana page of the GCF Readiness Programme’s website.