Implementation Period: Ongoing
 
 

 First stakeholders consultation led by the Climate Change Commission together with the Land Bank of the Philippines, and PAGASA on the USD 10 million project proposal “Multi-Hazard Impact-Based Forecasting and Early Warning System (MH-IBF-EWS) for the Philippines” held on April 5, 2019. The MH-IBF-EWS project, our country’s first GCF project, was approved at the GCF Board during its 24th Meeting held in November 2019.

 

 

The CCC serves as the National Designated Authority (NDA) to the Green Climate Fund (GCF), an international fund created by the United Nations Framework Convention on Climate Change (UNFCCC) to support paradigm-shifting low emission (mitigation) and climate resilience (adaptation) projects and programs in developing countries.

The GCF is a global fund created to serve the Paris Agreement and Kyoto Protocol, aiming to deliver equal amounts of funding to mitigation and adaptation. It has a multi-layered approach to mobilize climate finance in the form of investments including grants, loans (concessional), equity, and guarantees. 

The GCF works through Accredited Entities to channel its resources to all projects and programs. To date, the total number of AEs worldwide is 95, which include multilateral organizations (e.g. United Nations organizations, Asian Development Bank), and national organizations as direct access entities. In the Philippines, Land Bank of the Philippines is the first direct access entity (DAE) accredited by the GCF.

As of 17 March 2020, the total financing committed by the GCF for 129 projects is USD5.6 billion, to benefit an estimated 352.7 million people and reduce an equivalent of 1.6 billion tons of greenhouse gas (GHG) emissions.

National Designated Authority (NDA)

As the NDA to the GCF, the CCC acts as the core interface between the GoP and the GCF. The CCC leads the process for the issuance of a no-objection letter which GCF requires for every funding proposal. It also facilitates activities supported by the GCF, such as the development of project ideas, concept notes, and funding proposals, and convening of stakeholders together with Accredited Entities, ensuring these are aligned with strategic national objectives and priorities and help advance the country’s ambitious action for adaptation and mitigation. 

The CCC is responsible for:

  • Providing broad strategic oversight of the GCF’s activities in the country;
  • Convening relevant public, private, and civil society stakeholders to identify priority sectors to be financed by the GCF;
  • Providing leadership on the deployment of readiness and preparatory support funding in the country;
  • Communicating the nomination of entities (sub-national, national or regional, or public and private) that seek accreditation to the GCF under the “direct access” track; and

Implementing the no-objection procedure on funding proposals and project preparation facility applications submitted to the GCF, to ensure consistency with national climate change plans and priorities.