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Financing Climate Change and Chemicals Projects

Financing Climate Change and Chemicals Projects. GEF Climate Change and Chemicals Team November 1, 2013. GEF Climate Change Mitigation Finance. Performed catalytic , innovative, and cost-effective role Led in financing new, emerging low-carbon technologies

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Financing Climate Change and Chemicals Projects

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  1. Financing Climate Changeand Chemicals Projects GEF Climate Change and Chemicals Team November 1, 2013

  2. GEF Climate Change Mitigation Finance • Performed catalytic, innovative, and cost-effective role • Led in financing new, emerging low-carbon technologies • Pioneered market-based approaches, innovative instruments • Invested over $4 billion in more than 600 climate change projects and programs in 157 countries since 1991 • Leveraged more than $27 billion co-financing • Avoided 2.6 billion tonnes of CO2 directly • Catalyzed reduction of 6.8 billion tonnes through market transformation • Provide up to $1.26 billion grant during GEF-5 (2010-2014) GEF is an operating entity of the Financial Mechanism of United Nations Framework Convention on Climate Change (UNFCCC) 2

  3. GEF-5 Objective: Support developing countries and economies in transition towards a low-carbon development pathway CO2 emission reduction target: 500 million tonnes GEF Climate Change Mitigation Program 3

  4. Climate Change Mitigation Strategic Objectives for GEF-5 SO1: Demonstration, deployment, and transfer of innovative low-carbon technologies SO2: Market transformation for energy efficiency in industry and the building sector SO3: Investment in renewable energy technologies SO4: Energy efficient, low-carbon transport and urban systems SO5: Conservation and enhancement of carbon stocks through sustainable management of land use and forestry SO6: Enabling activities and capacity building 4

  5. GEF-5 CCM Programming by Agency as of March 2013 5

  6. Proposed GEF-6 CCM Strategy Goal: To support developing countries and economies in transition in achieving transformational change towards development with low carbon emissions 6

  7. Compare GEF-5 and GEF-6 CC Strategies Difference Proposed GEF-6 GEF-5 Objective 1, Program 1: Promote timely development, demonstration, & financing of low carbon technologies and policies Early stage innovation, tech transfer and risk taking, compliment other climate funds SO 1: Technology transfer Objective 1, Program 2: Develop & demonstrate innovative policy packages and market initiatives to foster a new range of mitigation actions Support voluntary innovative measures, such as performance-based incentives, etc. SO 2: Energy efficiency Links to the special initiative for cities, urban management focus on systematic impacts SO 3: Renewables energy Objective 2, Program 1: Promote integrated low-carbon urban systems SO 4: Transport and urban Objective 2, Program 2: Promote conservation & enhancement of carbon stocks in forest, & other land-use, & support climate smart agriculture Inclusion of agriculture, N2O and methane, link to signature initiative on food security SO 5: LULUCF SO 6: Enabling activities Connecting Convention obligations, enabling activities with national planning & articulating ways to achieve mitigation targets Objective 3, Program 1: Integrate findings of Convention obligations enabling activities into national planning processes & mitigation targets 7

  8. GEF Climate Change Adaptation Program • The GEF’s approach to adaptation is based on the fundamental recognition that climate change affects all aspects of human including social and economic development. • Through the LDCF and SCCF, the Adaptation Program funds the full cost of adaptation, which translates to the term “additional cost” • Our value proposition is to: • Assist the most vulnerable developing countries to address their adaptation priorities; • Assist transition to long-term adaptation • Scale-up multi-focal area projects and programs Strengthening adaptation capacities in the Agricultural Sector – Burkina Faso (LDCF) 8

  9. Innovative Features of LDCF/SCCF Coping with Drought and Climate Change – Mozambique (SCCF) 9

  10. LDCF and SCCF at a Glance • The most comprehensive and advanced portfolio of adaptation projects and programs • More than 170 projects and programs in more than 110 countries • Countries are rapidly accessing LDCF/SCCF resources 10

  11. GEF-6 CCA Draft Programming Strategy:Goal and Objectives GOAL  To increase resilience to the adverse impacts of climate change in vulnerable developing countries, through both near- and long-term adaptation measures. This goal is supported through three strategic objectives. • 1) Reduce Vulnerability • 2) Increase Adaptive Capacity • 3) Enhance Long-term Adaptation 11

  12. GEF-6 Adaptation Programming Priorities Increasing Resilience to Climate Variability and Hazards (Kiribati) (LDCF) Cross- Cutting Each priority in line with country demand and COP guidance 12

  13. GEF Chemicals Cluster –Areas of Work The GEF Chemicals Focal Area includes POPs, ODS, Mercury and Sound Chemicals Management for increased coherence. • Phase out of Persistent Organic Pollutants – Stockholm Convention • Phase out of Ozone Depleting Substance, specifically to Countries with Economies in Transition – Montreal Protocol • Piloted activities on mercury – to support and inform ongoing negotiations of an agreement on Mercury • Pilot activities on chemicals of Global Concern – Related to the Objectives of the Strategic Approach to International Chemicals Management (SAICM), including E-waste, chemicals in products and lead in paint. 13

  14. Overview of GEF Investment on POPs • Since 2001, GEF has provided US$ 695 million POPs projects • Leveraged over US$ 1.7 billion in co-financing from partners; • Bringing the total GEF POPs portfolio to over US$2.4 billion. • To date, GEF has financed National Implementation Plans (NIPs) projects for all developing country Parties requiring support. • 108 Parties submitted their NIPs to the Secretariat of the Stockholm Convention. • 109 GEF post-NIP projects are under implementation. 14

  15. GEF Funding of Post-NIP Activities (109 projects) to Address POPs 15

  16. GEF-6 Planning:Chemicals and Waste Strategy • An integrated Chemicals and Waste Focal Area is planned for GEF-6 • Including Stockholm Convention, Montreal Protocol, MinamataConvention on Mercury and SAICM issues 16

  17. GEF 6 Chemical and Waste FrameworkGoal: A significant reduction in the exposure of humans and the environment to hazardous chemicals and waste of global importance 17

  18. Thank you for your attention Questions? Ming Yang (Ph.D.) Global Environment Facility 1818 H Street, NW, Mail Stop P4-400 - Washington, DC 20433 USATel: (202) 473-0508 Fax: (202) 522-3240/3245 www.thegef.org / secretariat@thegef.org 18

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