Taking Advantage of Climate Change Finance and Various International Schemes
International finances and scheme for developing countries support in efforts to climate actions
In the UNFCCC, in order to support the implementation of the Convention, the Financial Mechanism has been established. For example, the Global Environment Facility (GEF) is providing support for preparation of national reports and for capacity building. COP16 (Cancun) decided to establish the Green Climate Fund (GCF) and is expected to support mitigation and adaptation efforts. Also, the Climate Technology Centre and Network (CTCN) established as part of the UNFCCC technology mechanisms, helps to carry out the technology transfer for climate change mitigation and adaptation. In addition, international financial institutions such as the World Bank and the Asian Development Bank (ADB), are funding to development projects, which contribute to mitigation and adaptation of climate change in their regular course of development finance operations.
Taking advantage of climate change finance and various international schemes and the OECC
To promote climate actions in developing countries, the OECC carries out cooperation with governments and other partners. With request of developing country governments, the OECC provides technical assistance on climate change planning such as NAMA and INDC, utilizing international finance and schemes on climate change. Also, the OECC plays a catalytic role in combining such public support with private sector finance, which can provide more options for low-carbon technologies and management know-hows.
For example, by extending our efforts of the JCM project finding projects in Mongolia, the OECC participated in the feasibility study by the Asian Development Bank. In addition, OECC has been registered as CTCN network member of UNFCCC in 2015, and we are preparing for the transfer of low carbon technology in the developing countries, such as ASEAN, Africa, Latin American regions.