THE YCEO: Organizations ‘going green’ to receive support from Green Climate Fund - THE YCEO

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THE YCEO: Organizations ‘going green’ to receive support from Green Climate Fund

Businesses with intentions to go green to receive support from the Green Climate Fund (GCF) it’s possible. The GCF is a global fund created to support the efforts of developing countries to respond to the challenges facing the climate.

Businesses and NGO’s in Ghana with the intention of running climate change related programs stand a better chance at getting international funding from the Green Climate Fund.

This is because the Ministry of Finance in collaboration with the Ministry of Environment ,Science Technology and  Innovation and the United Nations Development Program has successfully organised a ‘Readiness program’’ a programme meant to enhance Ghana’s chances of access to international climate finance especially, the GCF.

The readiness program which was rolled out in June 2015, entailed series of workshops for stakeholders and interested parties on the policies and procedures in attaining the level of receiving funding from GCF.
The program engaged stakeholders to develop a program to align fiduciary and environmental standards of selected direct access entities to the GCF. The program which ended last December, was carried out in nine districts of the country.

Ecobank Ghana and Social Investment Fund are two financial institutions that benefitted from the Readiness program. They have submitted accreditation application. Meaning when approved, they would serve as mediums through which organisations can get funding from the GCF

The programme also supported the Energy Commission, Environmental Protection Agency/MOFA and the Forestry Commission in submitting project proposal concept notes on three projects, “Accelerating Solar Action Programme”, “Resilient Landscapes for Sustainable Livelihoods Programme” and the Ghana Shea Landscapes REDD+ Project:  to the GCF. Full funding proposals on these three projects are being supported for submission.

These projects, if approved, will make available to the country about $310 million in grant and loans to implement these important climate change mitigation and adaptation projects.

The Readiness program is active in nine countries: Benin, Ghana, Colombia, El Salvador, Fiji, Kenya, Nepal, Philippines and Uzbekistan.

The $988,000 project was funded by the German Federal Ministry for Environment, Nature Conservation, Building and Nuclear Safety.

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