New update – June 2013

New update – June 2013

The Climate Funds Update data is now current as of June 2013. This brief note highlights new developments including pledges, approvals, and disbursements.

New Climate Finance pledges March 2013 – May 2013:

On 24th May 2013 Sweden’s government announced a new pledge to the Adaptation Fund of USD 15 million, making Sweden the biggest donor to the Fund with a total commitment of USD 59.21 million. Canada is a new contributor to the Congo Basin Forest Fund (CBFF) with a pledge of USD 21.02 million. Spain increased its pledge to the UN-REDD Programme by USD 2.42 million.

New approvals and disbursements March 2013 – May 2013:

  • The Amazon Fund increased the disbursements for five projects by USD 6.65 million.
  • The Forest Investment Programme (FIP) approved three full projects: One new project in Mexico, for supporting forest related micro, small and medium-sized enterprises (MSMEs) in Ejidos (USD 2.88 million); and two new Project Preparation Grants (PPGs) in Ghana and Indonesia for integrating a landscape approach in reducing pressure on natural forests, and engaging local communities, and for community focused management and investment to address deforestation and degradation, and natural resources management, respectively.
  • The Scaling-Up Renewable Energy Program for Low Income Countries (SREP) approved new preparation grants for investment plans in Armenia and the Solomon Islands, which are within the list of ‘reserved countries’ for pilots.  While the SREP will support the development of the plans, finance for implementation will need to be raised.
  • The Forest Carbon Partnership Facility approved three new readiness grants in Vietnam, Ethiopia, and Costa Rica for a total amount of USD 11 million.
  • All funding through the MDG Achievement Fund Climate Change window has now been disbursed.

Enhanced transparency and disclosure practices:

The Adaptation Fund, as it now reports ‘live’ information on projects’ disbursements as well as project performance reporting. The Amazon Fund now reports detailed information on the contributions made to the fund, distinguishing ‘committed’ and ‘received’ funding, and on the projects side, distinguishing between different types of project management. The Climate Investment Funds (CIFs) provide project by project information on disbursements, but only on public projects; private projects are not disclosed for confidentiality reasons. Both the Adaptation Fund and the Climate Investment Funds have committed to adopting the International Aid Transparency Initiative standard.