The GCF is the primary financing entity for the United Nations Framework Convention on Climate Change (UNFCCC) for the implementation of the Paris Agreement.
The CCDA, as PNG’s National Designated Authority (NDA) to GCF, has a coordinating role in linking different sectors and stakeholders with the GCF.
CCDA also facilitates access to financing to implement PNG’s climate change adaptation and mitigation priorities.
CCDA managing director Ruel Yamuna said they are working with a range of sectors and accredited entities to access GCF support.
Accredited entities include the European Investment Bank, Asian Development Bank, Conservation International, UNDP, International Union for the Conservation of Nature and The World Bank.
Yamuna stated that they are working to build CCDA’s capacity to coordinate action on climate change. They aim to develop and implement projects on adaptation through early warning systems and mitigation through REDD+ and renewable energy.
Yamuna added that they will soon submit five proposals on mitigation projects in the energy sectors. The projects focus on renewable energy, carbon neutrality, solar power, geothermal and hydropower plants.
CCDA will discuss which of the five projects meet several criteria and have clear potential to meet all criteria of the GCF, then it will assess on who is the most likely accredited entity to assist.