Call Us Now

+91 9606900005 / 04

For Enquiry

legacyiasacademy@gmail.com

About The Sub-National Climate Fund

Context:

A delegation from the World Bank has arrived in Goa for talks with the state govt to set up the first sub-national climate resilient green fund.

Relevance:

GS III: Environment and Ecology

Sub-national Climate Fund: Advancing Climate Resilient Solutions

Global Blended Finance Initiative:

  • Objective: Develop mid-size climate-resilient infrastructure and nature-based solutions globally.

Mission:

  • Objective: Invest in subnational climate-smart infrastructure and nature-based solutions that provide measurable and certified climate and sustainable development impacts at the local level.

Financial Model:

  • Design: Crafted to attract both public and private investments.
  • Outcome: Aims to deliver certified climate and Sustainable Development impacts along with Nature-based Solutions.

Structure:

  • Fund Manager: Managed by Pegasus Capital.
  • Technical Assistance: International Union for Conservation of Nature (IUCN) oversees the Technical Assistance component.
  • Anchor Investor of Concessional Capital: The Green Climate Fund (GCF).

Governance:

  • High-level Advisory Committee: Governs the Subnational Climate Fund (SCF).
  • Role: Advises the SCF Consortium on optimal investment opportunities aligned with the SCF mission and broader theory of change.
  • Composition: Includes experts in climate science, finance/economies, sector/technical, biodiversity/nature-based solutions, and environmental/social management systems (ESMS).

-Source: The Hindu


April 2024
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
Categories