Title:
Accelerating Green & Climate Finance in the Philippines: Nature-Based Solutions
Agreement Number:
7437992 P010396001
Agreement Value:
$4,500,000.00
Agreement Date:
Feb 18, 2022 - Dec 31, 2026
Description:
The project will increase private sector investments in green and climate resilient technologies, innovations, practices and approaches in support of a just transition to resilient and low emission development that protects the rights of all affected and at risk. This will be achieved by:
1. Strengthening existing platforms for evidence-based policy dialogue among government, development partners and private sectors to enhance enabling policy, improve coherence, and support development of innovative financing mechanisms for climate and green investments;
2. Establishing a climate finance lab in the Philippines that will curate innovative financing mechanisms, attract capital from private sector, and implement green and climate investments;
3. Improving capacities of finance institutions to design and incorporate green and climate-related policies in their lending programmes; and
4. Establishing an impact management system to report on SDG impacts of green and climate investments by private sector and financing institutions.
Organization:
Global Affairs Canada
Expected Results:
The expected outcomes for this project include: (1) improved effectiveness of gender-sensitive climate finance platforms for evidence-based policy dialogue between government, development partners and private sector in the Philippines; (2) increased access to innovative and gender-responsive green and climate finance solutions, including nature-based climate solutions and biodiversity conservation projects; (3) improved overall lending practice and behaviour of financial institutions in incorporating gender-sensitive and green and climate-related policies in the Philippines; and (4) improved reporting on the SDG impacts of green and climate investments by the private sector and financing institutions in the Philippines.
Reference Number:
064-2021-2022-Q4-00075
Report Type:
Grants and Contributions
Recipient Type:
Not-for-profit organization or charity
Recipient's Legal Name:
UNDP - United Nations Development Programme
Program:
International Development Assistance Program
Program Purpose:
The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.