Green Climate Fund Country Programme and call for private sector climate action, lay the foundations of transformative climate finance in North Macedonia
14 June, 2022, Skopje, North Macedonia
North Macedonia concluded today its Second Green Climate Fund (GCF) readiness project laying the foundation for country-driven climate action in the future. The closing event was organized by FAO and the Cabinet of the Deputy President of the Government in charge of economic affairs, in its capacity as GCF National Designated Authority for the Green Climate Fund (GCF), in Skopje.
The Green Climate Fund is an important partner of North Macedonia in accessing climate finance for the achievement of climate action targets under the Paris Agreement, the Sustainable Development Goals, and attain its climate obligations in view of the European Union pre-accession process.
Building on the results of the First GCF Readiness project completed in 2019, under the Second project, the Government and FAO worked together on further strengthening the knowledge and capacity of the National Designated Authority and relevant partners on accessing the Green Climate Fund.
FAO supported the Government to develop and submit its first GCF Country Work Programme, addressing key climate change priorities in priority sectors – energy, transport, water resources, agriculture, waste, biodiversity, health, forestry, and cultural heritage – and scoping potential investments that could be translated into full-funding projects for the GCF, aligned with national development and climate priorities, as well as the SDGs and GCF investment criteria.
Deputy President of the Government, in charge of economic affairs Fatmir Bytyqi highlighted the benefits of the project, including the finalization of the first national GCF Country Work Programme with specific priorities and detailed project ideas in the identified priority sectors, which will be implemented “as part of North Macedonia's efforts to tackle climate change.”
He stressed the importance of the accreditation process to the Green Climate Fund, adding that the Macedonian Fund for Innovation and Technology Development will be the first accredited institution to the Green Climate Fund in the Western Balkans with direct access to the GCF.
“We are glad to have delivered a long-lasting impact beyond the project’s lifespan, by leveraging the extensive expertise of FAO, as Green Climate Fund accredited entity, supporting North Macedonia scale-up its capacity to mobilize GCF climate finance for country-driven, climate change mitigation and adaptation action,” said Nabil Gangi, FAO Deputy Regional Representative for Europe and De facto Head of FAO North Macedonia.
Recognizing the pivotal role of the private sector in low-emission and climate-resilient development, through this second readiness project, the Government and FAO put particular emphasis on unlocking the potential of local private companies in climate investments, through educating them on climate change issues, climate finance, and the use of technologies and innovation for climate change adaptation and mitigation.
To support private entities learn more on the crucial terminology, concepts, experiences, and opportunities to engage with climate action and climate investment, FAO developed the first of its kind, online toolkit for private sector engagement in climate action.
A major step to enhance the private sector engagement in climate action and investments has been the recent decision of North Macedonia’s Government, dated 12 April 2022, for nominating the Fund of Innovation and Technology Development of North Macedonia to be the first national entity to initiate the GCF accreditation process. As a National Direct Access Entity, FITD will be side by side with International Access Entities to the GCF, such as United Nations agencies, multilateral development banks, international financial institutions. Through the FITD, the country can access the Green Climate Fund directly, exercising full country ownership of climate change funding and better integrating it with its national climate action plans.
In this context, the Deputy President of the Government, in charge of economic affairs and the Director of the Fund for Innovation and Technological Development, signed a Memorandum of Cooperation today, to anchor the future partnership on climate action with the private sector. As a first step, they launched their first joint Public Call entitled "Climate Change Challenge 2022’’, inviting all interested private companies to submit project ideas that propose development or use of innovative climate-friendly, clean technologies that can contribute to climate change mitigation or adaptation in the country priority sectors.
Festim Halili, Director of the Fund for Innovation and Technological Development noted that this is real example of project sustainability immediate action. “In addition to the Government’s targeted policies and incentives to achieve climate change and green growth ambitions, we are providing the private sector a unique opportunity to deliver the investments needed to spur innovation and drive climate action across sectors’’, he added.
LINKS
North Macedonia receives continued support for “greening”
North Macedonia sets the stage for country climate action
www.fao.org/europe/news/detail-news/en/c/1242813/
North Macedonia, FAO work to ease Green Climate Fund investments
www.fao.org/europe/news/detail-news/en/c/1201575/
North Macedonia and the Green Climate Fund webpage
Toolkit for Private Sector Engagement in Climate Action
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