< Previous | Contents | Next >
1. Special Climate Change Fund (Sccf)
♤ The Special Climate Change Fund (SCCF) was established under the Convention in 2001 to finance projects relating to: adaptation; technology transfer and capacity building; energy, transport, industry, agriculture, forestry and waste management; and economic diversification.
♤ The Global Environment Facility (GEF), as an operating entity of the financial mechanism, has been entrusted to operate the SCCF.
2. Finance Mechanism for Climate Change
♤ The Financial resources that have been made available to Non-Annex I Parties to the UNFCCC consist of the following three modules:
♤ The “National Communications Module”: This module presents information communicated by Annex II Parties on the provision of financial resources related to the implementation of the Convention through their fourth and fifth national communications.
Fast-Start Finance
♤ During the Conference of the Parties (COP15) held in December 2009 in Copenhagen developed countries pledged to provide new and additional resources, including forestry and investments, approaching USD 30 billion for the period 2010 - 2012 and with balanced allocation between mitigation and adaptation. This collective commitment has come to be known as ‘fast-start finance’.
♤ Following up on this pledge, the Conference of the Parties (COP i6)in Cancun, in December 2010, took note of this collective commitment by developed country Parties and reaffirmed that funding for adaptation will be prioritized for the most vulnerable developing countries, such as the least developed countries, small island developing States and Africa.
♤ At COP 17 Parties welcomed the fast-start finance provided by developed countries as part of their collective commitment to provide new and additional resources approaching USD 30 billion for the period 2010-2012, and noted the information provided by developed country Parties on the fast-start finance they have provided and urged them to continue to enhance the transparency of their reporting on the fulfillment of their fast-start finance commitments.
♤ The “Funds Managed by the GEF Module” is a joint effort between the secretariat of the UNFCCC and the secretariat of the Global Environment Facility (GEF). This module presents information on financial flows that have been channelled, mobilized and leveraged by the GEF in its role as an operating entity of the Financial Mechanism of the UNFCCC.
Do you know?
The Andaman and Nicobar Islands is the first territory in the country to initiate a species recovery programme for the dugong and restoration of sea grass meadows under the Centrally Sponsored Scheme of the Central Ministry of Environment, Forests and Climate Change.