CCAP Submits Inputs for the Green Climate Fund’s Initial Proposal Approval Process
The GCF should be the “keystone” climate finance institution supporting the objectives of the Paris Agreement, including reducing emissions and building climate resilience in support of countries’ Intended Nationally Determined Contributions (INDCs), as well as transforming financial flows. The GCF’s approach to the project cycle will be critical in order to build and efficiently support a strong pipeline of projects and programs that support these goals.
In response to the GCF’s call for submissions on the review of the proposal approval process, CCAP has submitted its perspective, highlighting three broad approaches for consideration:
1. Enhance readiness and project preparation support to improve the quality of projects entering the project cycle. The Board should allocate substantial resources to readiness and project preparation activities as a strategic investment to ensure significant volumes of financing can flow at scale without sacrificing project quality. This support should focus on helping countries to convert their INDC goals into policies, measures, and financeable investment strategies, with a view to advance the goals of the Paris Agreement and ensure that the initial $10 billion ple