Second Regional Learning Forum on Climate Finance under way in Botswana

© Elnur Amikishiyev – 123RF.com

The Southern Africa Climate Finance Partnership (SACFP) is co-hosting the event with the Botswana’s Ministry of Finance and Economic Development, in its capacity as nationally designated authority to the Green Climate Fund (GCF), and supported by UK Aid and the Swiss Agency for Development Cooperation. This follows the success of the first SACFP Regional Learning Forum in October 2018.

The GCF is the primary operating entity of the United Nations Framework Convention on Climate Change (UNFCCC) financial mechanism. As of its 22nd Meeting of the Board, in February 2019, the GCF has approved 102 projects globally, to the value of $17.6bn. Despite this, the GCF is constrained by a limited pipeline of impactful country-owned proposals, and is falling short of its commitment to channel 50% of total funding through direct access accredited entities (AEs) based in recipient countries – 74% of projects are currently channelled through international AEs, which are generally based in traditional donor countries.

Challenges in designing transformative project portfolios

Many developing countries – and notably their nationally designated authorities / focal points to the GCF – face challenges when designing and implementing transformative project portfolios. Thus the quality, scale, and coordination of project portfolios should be addressed through a systematic, coordinated approach by developing countries accessing the GCF – along with partnership, collaboration, learning, and ultimately enhanced capability to coordinate transformative investments.

Said deputy secretary from the Ministry of Finance and Economic Development Boniface Mphetlhe, “The Ministry of Finance and Economic Development, as the national designated authority to the GCF takes pleasure in hosting this very important regional engagement. Botswana remains highly vulnerable to the impacts of climate change, and some of the key economic sectors are highly, and increasingly affected by climate change including, energy, agriculture and water. As the NDA, we need to position Botswana to capitalise on the resources available from the available multilateral funds, in particular the Green Climate Fund. This forum comes at an important time for the NDA in Botswana as we prepare to access the GCF, and provides a very important platform to learn from the experiences of other countries in the region such that we can effectively, efficiently and strategically prepare Botswana’s approach to the readiness programme, the national GCF country programme and develop successful concepts and proposals for GCF approval.”

The second Regional Learning Forum has three objectives:

1. Strengthen regional collaboration on financing climate action in Southern Africa, through the use of the GCF, by:
1.1. Recognising existing regional capacity that can be drawn upon; and
1.2. Identifying collaboration opportunities in terms of multi-country programmes.
2. Provide a platform for peer-to-peer learning on challenges and successes in accessing GCF finance.
3. Provide an opportunity for country teams to engage with the GCF Secretariat on specific institutional issues.