Title:
Accelerating green and climate finance in the Philippines
Agreement Number:
7437992 P010396001
Agreement Value:
$6,500,000.00
Agreement Date:
Feb 18, 2022 - Dec 31, 2027
Description:
This project aims to improve the resiliency and environmental security of Filipino women and vulnerable communities through support for the climate financing environment in the Philippines. It seeks to create an innovative financing ecosystem that help increase investments into nature-based solutions for climate change adaptation and mitigation. Project activities include: (1) establishing a climate finance lab; (2) supporting climate data platforms for research in nature-based solutions finance; (3) training financial institutions to design and incorporate gender-responsive and green and climate-related policies in their lending programs; and (4) establishing an impact management system to report on SDG impacts of green and climate investments by the private sector and financing institutions.
The project’s nature-based solutions benefit at least 19 Peoples Organizations and 100 households. At least 3 communities benefit from nature-based solutions projects developed and matched with climate financing instruments. At the national level, the project builds capacity to develop innovative climate finance solutions and SDG impact monitoring of key agencies. This includes Department of Finance, Central Bank of the Philippines, Climate Change Commission, Department of Environment and Natural Resources, Securities and Exchange Commission, and Public-Private Partnership Center.
Organization:
Global Affairs Canada
Expected Results:
The expected outcomes of 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
Amendment Date
Mar 26, 2026
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.