Twenty-five organizations and partner institutions participated representing a range of interests and areas of work
The Protected Areas Conservation Trust (PACT), the Green Climate Fund’s Direct Access Entity for Belize on May 22, 2019 concluded a three-day training workshop on the Green Climate (GCF) Project Design, financed under a GCF readiness project implemented through the regional climate change centre. This workshop brought together key stakeholders from the conservation and natural resource management sector, introducing them to the GCF, its financing portfolio, investment criteria and funding procedures. Furthermore, the sessions supported PACT in further defining its Climate Finance Portfolio and its programme of work with the GCF.
This workshops not only helped to lay the foundation for climate resilient projects in Belize, particularly in the context of the GCF, said Nayari Diaz-Perez, Executive Director of PACT, it also provided a platform for participants to share knowledge and exchange lessons and insight in preparing and implementing climate change related projects critical to Belize’s development.
The GCF approved the accreditation of PACT at its 21st meeting held in October 2018 in Bahrain, making PACT the first national GCF Direct Access Entity in Belize. As an accredited entity, PACT is able to access and distribute GCF grant resources in Belize to support climate mitigation or adaptation actions through micro projects of up to USD $10M in the category of minimal to no environmental social risk.
PACT’s track record in climate change includes investments approximating BZD $1.5M of its own funds in several climate-related activities across Belize, in the last five years. Additionally, PACT is currently assisting the Government in the investment of approximately BZD $47.8M in in-country projects with climate-related components financed by third-party sources such as the German Development Bank (KfW), Global Environment Facility (GEF), Forest Carbon Partnership Facility (FCPF) and the Adaptation Fund.
About the Green Climate Fund:
The GCF is a global fund created to support countries to respond to the challenge of climate change. GCF helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change. It seeks to promote a paradigm shift to low-emission and climate-resilient development pathways, taking into account the needs of nations that are particularly vulnerable to climate change impacts. It was set up by the 194 countries who are parties to the United Nationals Framework Convention on Climate Change (UNCFCCC) in 2010, as part of the Convention’s financial mechanism. It aims to deliver equal amounts of funding to mitigation and adaptation, while being guided by the Convention’s principle and provisions. To date, the GCF has raised USD 10.3 billion in pledges from 48 countries/regions/cities, including 9 representing developing countries.