UN agency offers $500-M aid for climate mitigation

MANILA, Philippines - United Nations-affiliated Green Climate Fund (GCF) is offering up to $500 million of financial assistance for actionable project proposals that would help mitigate the impacts of climate change.

In a statement, the Department of Environment and Natural Resources’ Climate Change Service (DENR-CCS), which acts as the GCF’s secretariat in the country, said the assistance will be in the form of loans, equities, guarantees and grants.

“The Green Climate Fund is offering up to $500 million in financial assistance to support bold business ideas that can help communities adapt to climate change, as well as reduce greenhouse gas emissions,” the CCS said.

The GCF is established within the United Nations Framework Convention on Climate Change with the aim of assisting developing countries in climate change adaptation and mitigation.

The CCS said the project proposals must fit in at least one of eight areas of concern earlier identified by the GCF. 

These are energy generation and access; transport; buildings, cities, industries and appliances; forest and land use; health, food and water security; livelihood of people and communities; ecosystem and ecosystem services, and infrastructure and the built environment.

The CCS said the proposals should “contribute to the paradigm shift towards low-emission and climate-resilient development.”

Entries should be in the form of a concept note and must be submitted via email to the GCF Private Sector Facility at [email protected], on or before Aug. 30.

“Submitted concept notes will receive feedback from the GCF Secretariat, and those with the highest score will be invited to develop a full-fledged funding proposal,” the CCS said.

Interested applicants may also call the CCS at telephone numbers (02)928-1194 or (02)929-6626 local 2006 or visit the GCF’s website atwww.greenclimate.fund/500m.