Submission to the Board of the GCF: Lessons learned from the CDM for the approval of GCF’s funding proposals
It is crucial that the decision of the Board of the Green Climate Fund (GCF) to approve the first funding proposals reflect the lessons learned from the previous experience of relevant institutions and climate mechanisms, in order to support high quality proposals that aim to deliver positive impacts for people and their ecosystem.
The Clean Development Mechanism (CDM), as a long-standing mechanism for emission reductions, provides valuable lessons for this process. The recommendations in this submission disclose how GCF can build on the shortcomings of the CDM, in order to ensure that project/programmes supported through the GCF:
- are additional: That GCF excludes project types with low likelihood of additionality;
- are new: That GCF finance is not used for non-viable existing projects;
- comply with the interim environmental and social safeguards the Fund; That GCF activities fulfil human rights for all, including the rights of indigenous peoples, ensure gender equality, etc.
- have high sustainable development potential: That GCF excludes project types with high GHG emissions and those associated with other high environmental and social costs;
- respond to community identified needs, with strong engagement of the civil society in development, implementation and monitoring;
- are developed, implemented and monitored with high and clear standards of transparency, accountability and integrity.
11 Mar 2020
Carbon Market Watch input to public consultation on draft ETS state aid guidelines
17 Feb 2020
EU carbon market state aid rules moving in the right direction – but not far enough
28 Jan 2020