NTNC gets direct access entity accreditation to Green Climate Fund
KATHMANDU, NOVEMBER 12
The National Trust for Nature Conservation, a semi-governmental agency in the field of biodiversity conservation, is the latest among successful institutions to be awarded accreditation as Direct Access Entity to the Green Climate Fund.
GCF is the world’s largest global fund for climate change set up by the United Nations Framework Convention on Climate Change to help finance developing countries to meet their climate actions in accordance with the Paris Agreement.
Decision to give accreditation was taken by the 27th Board meeting of the GCF held from November 9 to 13.
DAE accreditation will subsequently authorise NTNC to develop individual projects up to USD 10 million for accessing future climate finance directly from the GCF under the ‘micro size’ category, read a press release issued by the NTNC today.
Under this, NTNC will undertake climate actions that focus on climate change mitigation and adaptation targeting vulnerable rural communities to build climate resilience and local capacities, while promoting socio-economic opportunities necessary to cope and combat climate-induced risks.
Provision for obtaining climate financing through international mechanism is made under Point 8.12 in Nepal’s National Climate Change Policy-2019.
Reacting to the accreditation decision, NTNC Chairperson and Minister of Forests and Environment Shakti Bahadur Basnet, who closely led the process from the front, described it as being ‘the beginning of a milestone moment, not just for NTNC but for Nepal as a whole, giving us direct access to global funds and resources necessary for tackling one of the most pressing global agenda of our time — climate change.” He said that the support for enhanced resources and capacities were very necessary, especially for a poor country like Nepal harbouring development aspirations, while also being among the most climate vulnerable countries despite making negligible contributions to global greenhouse gas emissions.
Accreditation has been the outcome of more than three years of rigorous preparation, agenda setting, and deliberation since NTNC first started the GCF application process in early 2017.
Bishwa Nath Oli, secretary at MoFE said, “The move will be instrumental in meeting both national and international targets concerning climate change, biodiversity conservation and sustainable development.” Siddhartha Bajra Bajracharya, NTNC acting member secretary and executive director, said, “It has been a demanding and meticulous process overall, requiring demonstration of stringent institutional measures and capacities.”
“However, knowing that we are Nepal’s first conservation entity to have realised this is immensely humbling, and it opens interesting opportunities for us to invest better in climate-focused actions necessary to adopt low carbon and climate resilient development in Nepal,” he added.