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The Climate Change Near-Term Priority Flagship Programmes & Climate Funding Gauteng Provincial Climate Change Forum June 24 2015 Climate Change and Air.

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Presentation on theme: "The Climate Change Near-Term Priority Flagship Programmes & Climate Funding Gauteng Provincial Climate Change Forum June 24 2015 Climate Change and Air."— Presentation transcript:

1 The Climate Change Near-Term Priority Flagship Programmes & Climate Funding Gauteng Provincial Climate Change Forum June 24 2015 Climate Change and Air Quality

2 Presentation Structure Climate Finance Climate Change Flagship Programmes

3 Climate Finance

4 Introduction An effective climate change response requires significant financial resources Commitments to deliver climate finance are longstanding Developed countries have committed to a goal of jointly mobilising 100 billion USD per year by 2020 Global climate finance flows in 2013 topped USD 331 billion Private actors remain the largest source of global climate finance, and invested USD193 billion, or 58% of total flows in 2013 The cumulative gap between finance needed and finance delivered is growing

5 Climate Finance Overview The global climate finance architecture is complex There are multiple sources, instruments, intermediaries and recipients involved in providing or receiving climate finance – Public finance, where the source of finance is public treasuries and where allocation is overseen by government functions. – Private climate finance is generated through a variety of means, including the carbon market, routine investment decisions by companies, and triggered by national or international policies that govern the functioning of markets in different areas (e.g. energy markets) Climate finance typically is intermediated and can flow through several channels for various reasons

6 Climate Finance Sources & Actors Multilateral Development Finance Institutions Institutional Investors Private Investors (Commercial) Government/National Public Institutions National Sources International Sources Public Funds Private Sector Funds

7 Climate Finance Instruments Grants Climate Funds Technical Assistance & Capacity Building Debt Financing Concessional Loans Loans Risk Mitigation Guarantees Insurance Equity Equity Investments Sovereign Wealth Funds Most likely instruments for South Africa

8 Global Climate Finance Architecture UNFCCC Financial Mechanisms Green Climate Fund Adaptation Fund Global Environmental Facility Non-UNFCCC Financial Mechanisms Multilateral Development Banks World Bank Funds African Development Bank UN Agencies (UNDP, UNEP) Bilateral Country Funds Germany - International Climate Initiative Norway - International Climate and Forests Initiative - ICFI UK - International Climate Fund - ICF NAMA Registry

9 UNFCCC Climate Funds The Green Climate Fund the Green Climate Fund (GCF) was designated as an operating entity of the Financial Mechanism of the UNFCCC accountable to the COP at COP 17 The operation of the Financial Mechanism is partly entrusted to the Global Environment Facility (GEF) A large share of financial resources for climate change is mobilized through the GEF Trust Fund

10 Key Funds in Sub-Saharan Africa A multitude of actors are involved in directing climate finance to the region Twenty climate funds are active in supporting development and climate resilience The World Bank administered Clean Technology Fund (CTF) and the Least Developed Countries Fund (LDCF) are the biggest funding providers in the region The largest contribution is from the CTF which has approved a total of USD 466 million for four large renewable energy and energy efficiency projects, primarily in South Africa

11 Top 10 recipients countries by amount approved (2003-14)

12 Climate Finance Adaptation/Mitigation Split (Sub-Saharan Africa)

13 Key National Role Players UNFCCC Focal Point UNFCCC NAMA Registry Focal Point GEF and GCF Designated Authority Flagship Programmes Steering Committee reccommending NAMA Registry Submission and facilitating access to Climate Finance National Green Fund Accredited Entities: GEF and GCF (accreditation application underway)

14 The Climate Change Flagship Programmes

15 Setting the Context National Climate Change Response Policy “A set of Near-term Priority Flagship Programmes will be implemented… These programmes will include both the scaling-up of existing climate change initiatives and new initiatives that are ready to come on-stream ” NDP Vision 2030 2014-2019: Planning, Piloting and Investing (Outcome 10 Delivery Agreement) Creation of an implementation framework Unblocking regulatory constraints Data collection, establishment of baseline information, and indicators Testing concepts and ideas to determine if these can be scaled up Climate Change Flagship Programmes

16 What are the Near-term Priority Flagship Programme? Front-runners in the transition to a lower carbon economy and resilient society Build on existing expertise and insight of key sectors which have extensive experience in implementing climate change relevant policies and measures Represent an important aspect of the practical implementation of the National Climate Change Response Policy and National Development Plan Understand and track over time the actual climate change impact of these programmes Catalyse sector-wide transformation

17 The Climate Change Flagship Programme Criteria Significant mitigation potential and/or potential to enhance resilience Ambitious and transformative in design, scale and impact Realise significant social, economic and environmental benefits Contribute to achieving existing commitments Utilise, demonstrate and/or test a set of policy interventions, fiscal instruments and modes of implementation Inter-linked components, developed and implemented in coordinated way Capable of near-term implementation

18 Near-Term Priority Climate Change Flagship Programmes The Waste Management Flagship Programme The Transport Flagship Programme The Climate Change Response Public Works Flagship Programme The Adaptation Research Flagship Programme The Energy Efficiency and Energy Demand Management Flagship Programme The Renewable Energy Flagship Programme The Water Conservation and Demand Management Flagship Programme The Carbon Capture and Sequestration Flagship Programme Priority areas Climate Change Priority Sectors Disaster Risk Reduction and Management Health Agriculture and Forestry Biodiversity And Ecosystems Human Settlements Current Flagship Programme Areas Other Climate Change Response Areas

19 The Importance of Provincial & Local Governments Subnational and local governments are at the forefront of climate action 50% - 80% of adaptation and mitigation actions necessary to tackle climate change are or will be implemented at the subnational level of governance Major international initiatives are increasingly making room for non- national actors Vertical integration of all spheres of government is key

20 Emerging Themes MRV is a pre-requisite for participation in climate finance Direct access to key climate funds is growing – South Africa already has 2 accredited entities – Private sector accreditation also underway Programme preparation and support required – support from the Flagship Programmes /NAMA Focal Additional steps are needed to fully integrate sub-national players into national and global climate change response

21 Linkages between Climate Finance & the Flagship Programmes Climate Finance Climate Change Flagship Programmes Scale Transformative Institutional Arrangements MRV Scale Transformative Institutional Arrangements MRV

22 Reitumetse Molotsoane Climate Change Flagship Programmes

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