Meeting Summary: Climate Finance Forum

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2 Meeting Summary: Climate Finance Forum Bonn, Germany May 20-21, 2016 Overview and Key Takeaways The Climate Finance Forum took place on May 20-21, 2016, in Bonn, Germany on the margins of the 44 th Meeting of the Subsidiary Bodies to the UNFCCC. Organized by the Center for Clean Air Policy (CCAP), and co-hosted by the United Kingdom (UK), the event convened high-level policymakers from developed and developing countries and representatives from climate finance institutions, and other multilateral, bilateral, and private sector sources of climate finance. The goal of the Forum was to encourage the development and financing of transformational program proposals that will help developing countries achieve ambitious outcomes to meet their Nationally Determined Contributions (NDCs) and effect the wider realignment of financial flows called for under the Paris Agreement. The Forum was convened with the generous support of the International Climate Initiative (IKI), which is supported by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB). Key points from the meeting include the following: Combining both policy and institutional reforms with financial incentives and measures can effectively catalyze private sector investment, create transformational mitigation programs, leverage donor funding, and help countries more effectively meet their climate pledges. Broader policy reforms underway within a sector can offer an opportunity to enact climate policy reforms.

3 A variety of support is needed to help countries convert their NDCs into action on the ground. Some countries may only need support to develop specific sectoral mitigation programs. Such support could include technical, policy and financial analyses, project pipeline development, financial structuring, implementation planning, and support to seek donor funding for climate finance proposals. Other countries may require greater support to build the capacity to develop an overall NDC implementation plan, prioritize programs and seek finance. In order to implement NDCs, countries need to engage their ministries of finance and planning. Countries could consider also developing a national climate finance strategy. Such a strategy could provide a financing roadmap for how to move forward with NDC implementation, highlight ways to integrate climate with development programs, and help integrate the myriad of country plans required by different international funding sources including the multinational development banks, the Global Environment Facility and the Green Climate Fund (GCF). Donor countries and climate finance institutions are supporting NDC conversion and implementation through a myriad of programs. The NDC Partnership, launched by Germany, the US, France and other donors in May 2016, is working to enhance cooperation among countries to support implementation of NDCs in an effort to minimize duplication and maximize synergies. The NAMA Facility also recognizes the need for more readiness support and is strengthening assistance to countries for the financial structuring of NAMAs. The GCF s readiness program and project preparation facility can also provide support for NDC conversion and implementation. The GCF was encouraged to clarify the range of activities it can support and streamline its readiness funding process. Towards this goal, CCAP will put together a GCF NDC Working Group to identify specific readiness needs, clarify how the GCF can currently support those needs and identify any gaps, and encourage discussion around the GCF s current efforts to streamline its readiness funding process and reduce the burden on applicants. The criteria that many climate finance institutions use when making funding decisions, including country ownership, mitigation potential, ambition and sustainable development cobenefits, significantly overlap. Time and effort spent aligning a climate change mitigation project or program to one set of criteria will also be useful for pursuing other funding programs. Private sector engagement is critical to developing and implementing climate programs, both as a source of investments for low-carbon technologies as well as an important political stakeholder to enlist to support NDC implementation, recognizing that different countries have different perspectives on the role of the government and the role of the private sector within the political economy. Future dialogues and support should continue to highlight ways to engage the private sector to ensure that NAMAs are effective in mobilizing their investment and support. Climate Finance Forum Summary 3

4 Summary of Day 1 May 21, 2016 Session 1: Welcome, Opening and Introductions Norbert Gorißen, Germany (Head of International Climate Finance Unit, International Climate Initiative, BMUB) welcomed participants and provided an update of Germany s work to support the implementation of the Paris Agreement. Germany is launching a new NDC partnership to help developing countries implement their NDCs and related Sustainable Development Goal commitments. The ultimate goal is to bring together the development and climate communities to achieve low carbon, climate-resilient development. Trigg Talley, United States (Deputy Special Envoy for Climate Change, US Department of State) noted how the implementation of NDCs will involve numerous parties including governments, private sector actors, and funders to convert NDCs into climate and investment policies, create a pipeline of bankable projects, secure financing, and report on results. Mr. Talley emphasized the importance of having a whole government approach to support investment in mitigation and create enabling policy frameworks to send consistent, long-term signals and be effective in transitioning to low-carbon development. Eduardo Durand, Peru (Head of the General Climate Change Directorate, Ministry of Environment) highlighted the opportunity post-paris to promote the climate agenda in countries development agenda. New institutional arrangements need to be developed between national, subnational and sectoral entities to facilitate the integration of climate and development goals. In addition, the private sector needs to be engaged to contribute to climate and development objectives. Bill Tyndall, CCAP (Chief Executive Officer) spoke about how there are significant and immediate opportunities to promote action on the ground with new and existing low-carbon technologies and financing to help move forward with NDC implementation in the near term. Mr. Tyndall highlighted the capacity of the private sector to take on climate change and therefore the need to mobilize their support. Session 2: The Role of Public Policy to Attract Private Sector Investments in Low Carbon Development An effective policy regime can mobilize private investment in climate mitigation and low-carbon development and create a multiplier effect for international support. This session focused on how policy measures create an environment conducive to private sector investments in mitigation action and highlighted approaches for garnering support from the private sector. Climate Finance Forum Summary 4

5 Stefan Gsänger, Germany (Secretary General, World Wind Energy Association) shared how post-paris, aggressively pursuing greater levels of renewable energy is now the new norm. Mr. Gsänger highlighted the importance of putting in place adequate enabling environments to support renewable energy. For example, in Pakistan, grid availability and interconnection facilities, operational efficiency of government agencies, and regulatory and policy framework decisions were cited as the top three requirements to enable greater wind uptake. Mr. Gsänger also emphasized that community support for renewable energy is critical to its successful implementation, and that one way to garner support is by encouraging community involvement as investors in community energy projects. Gaspar Escobar, Philippines (Chief of Technical Services and Management Division, Renewable Energy Management Bureau, Department of Energy) presented the Philippines Distributed Generation NAMA. The goal of the NAMA is to catalyze the market for distributed solar installations by reducing transaction costs by streamlining permitting and establishing an accreditation program for vendors and a technology certification program to help fast-track low grid-impact projects. It will also address financing issues by re- evaluating the existing net metering rates and establishing a credit guarantee fund. Carolina Marín Lopez, Colombia (Advisor for Sectoral Development, Ministry of Housing, Cities and Territory) presented the Colombia Waste NAMA. Central to the NAMA are a number of regulatory reforms including a 2014 law requiring that all cities develop composting and recycling programs and a 2015 waste tariff reform allowing alternative waste processing to receive a waste tariff, which was previously only available for waste destined to the landfill. The tariff reform fundamentally improves the economics for implementing alternative waste processing promoted by the NAMA to reduce methane emissions and increase recycling. Maria Paz Cigarán, Peru (General Manager, Libélula) emphasized how private sector support is often critical to effective adoption and implementation of policy reforms. Ms. Cigarán presented on different initiatives to garner private sector support for NDC implementation. For example, the Climate Management Initiative (Gestión Clima), led by the Ministry of Environment, fosters the concerted, multisectoral and participative action of the private and public sectors through alliances and information sharing and synergy in projects aimed at low-carbon development. The ensuing discussion highlighted that while regulatory reforms can address a range of barriers to lowcarbon investments, including information gaps, lack of standards, and lengthy permitting processes, they can also improve the economics of project. Governments, the private sector and financial institutions all have a role in identifying and addressing these barriers. Because there are multiple stages involved with enacting policy reforms, multiple levels of support are needed to address each step of the process to enable agencies to promote and create change. Substantial investments in readiness are needed to support the active policy development underway in countries as they work to implement their NDCs. Climate Finance Forum Summary 5

6 Broader policy reforms underway within a sector can offer an opportunity to enact climate policy reforms. For example, in 2014, Mexico initiated efforts to comprehensively reform its energy markets. As part of that effort, they recently enacted an Energy Transition Law (December 2015), which establishes Clean Energy Goals to promote investments and comply with Mexico's General Climate Change Law. Clean Energy Certificates (CEC) will be launched in 2018 as a method of compliance. Money collected from the sale of CEC will be invested in developing clean energy projects. Session 3: Engaging Domestic Financial Institutions and Strategic Actors to Catalyze Transformative Outcomes This session discussed how financial mechanisms can leverage international support to mobilize domestic investment and engage local financial institutions to support climate-friendly projects. Irfan Yousuf, Pakistan (Director (CDM), Alternative Energy Development Board) presented the Pakistan Renewable Energy NAMA. The project addresses barriers to investment, inter alia, with the creation of a credit guarantee fund. Additionally, it will improve the financial viability of utilities by piloting smart grid and distributed generation solutions and developing new business models for utilities. Lydia Orial, Philippines (President/CEO, Local Government Unit Guarantee Corporation (LGUGC)) spoke on mobilizing Private Capital for Energy Transformation. The LGUGC has developed and managed a variety of programs over the years, to offer technical assistance and guarantees to overcome perceived risks by local banks. In this process, the guarantee is generous in early stages and winds down overtime to move to market-rates until there is no more need for assistance creating incentives for early movers. Over the last decade, the LGUGC has partnered with USAID, the World Bank, the Philippines Department of Energy, and the EU Global Partnership on Output-based Aid to develop different risk-sharing facilities to local financial institutions, allowing it to expand its capacity to cover projects. Participants recognized that guarantees alone are not enough to create a market and lauded the Pakistan NAMA for providing additional support such as technical assistance for local banks, working on demand side and developing a pipeline of projects. It was stressed that even in the presence of a guarantee program, absent a strong project pipeline it is difficult to engage the interest of banks. Although donors recognize that institutions such as the LGUGC have been effective at transforming markets, donors often require an accredited intermediary to oversee the transfer and management of funds and ensure transparent reporting. In preparation for its application to the NAMA Facility, where such an intermediary is required, the Philippines NAMA engaged the World Bank. Beyond fulfilling a basic requirement of the NAMA Facility, the involvement of the World Bank has enabled the project to tap into the substantial financial expertise of the Bank. Climate Finance Forum Summary 6

7 Session 4: Creating a Roadmap for Low-Carbon and Resilient Investments through Conversion of INDCs INDC Investment Strategies or National Climate Finance Strategies can help countries identify and prioritize the types of investments needed to achieve their INDCs and effectively leverage climate finance. Participants discussed key features of these strategies, how countries could be supported in developing them, and how they could be used as the basis for climate finance mobilization. In addition to international support, countries need to engage their ministries of finance and planning in the strategy development process. Some developing countries, such as Chile, are already taking steps in this direction. Laurence Blandford, CCAP (Director of International Policy Analysis), presented that to achieve their INDCs, countries will need to convert INDCs into policies, measures, and financeable investment strategies. Developing a national climate finance strategy can help countries understand the overall amount of climate investment needed to achieve the INDC, what domestic resources and policies will be used or developed unilaterally to mobilize investments, and what international resources are available. Such a strategy can provide a strategic basis for seeking international support. Marcela Palominos, Chile (Head of Sustainable Development and Natural Resources, Ministry of Finance) presented on Chile s commitment in their INDC to publish a National Climate Finance Strategy by Ms. Palominos highlighted the fundamental importance of sound macroeconomic management and fiscal prudence to Chile s long-term economic approach, and the success of recent moves to develop the market for renewable energy. As Chile s Nationally Designated Authority for the GCF, she discussed the two primary focus areas for the Finance Strategy: greening the financial system by addressing systemic barriers to low-carbon investment, and developing a strategy to finance programs in support of INDC implementation. Participants commented on the value of having the Ministry of Finance taking the lead on sustainable development and climate change, as it is the case in Chile, given its strong influence on national decisions. A participant remarked that it was interesting that Chile is evaluating what kind of institutional arrangements are needed to implement the INDC even before evaluating what kinds of projects are needed. Participants suggested the creation of inter-ministerial committees to really be able to develop GCF proposals, given the need for a wide range of skills to develop and implement a broad program. Climate Finance Forum Summary 7

8 Session 5: The role of the Financial Mechanism of the UNFCCC in supporting the Paris Agreement Ned Helme, CCAP (Strategic Advisor) moderated the session on how the GCF and GEF will play a key role in supporting the implementation of the Paris Agreement through building a pipeline of transformational country-driven program proposals, achieving scale through leveraging and replication, and enhancing national capacity to marshal finance for the achievement of ambitious NDCs. Pete Betts, United Kingdom (Director of International Climate Change, Department of Energy and Climate Change) provided opening remarks and highlighted that the UK sees that an important role of the Financial Mechanism of the UNFCCC is to ensure that the development investments that need to occur, for example in infrastructure, are shifted to low carbon investments. Tosi Mpanu-Mpanu, Congo (Chair, Least Developed Countries Group) provided opening remarks and called attention to the current funding gap to help LDCs move to implementation mode. Faustin Munyazikwiye, Rwanda (Director of Climate Change and International Obligations Unit, Environment Management Authority), respondent, shared Rwanda s experience with the GCF, namely its successful application for readiness funding, support received from the project preparation facility, and the accreditation of the Ministry of National Resources. Chizuru Aoki, Global Environment Facility (Lead Environmental Specialist), respondent, talked about the type of support available from the GEF, namely for improving the quality of reporting and MRV and capacity building to meet transparency requirements. The ensuing discussion highlighted that developing countries need support to (1) build the institutional capacity to identify projects and programs towards meeting their NDC, (2) establish enabling environments, and (3) develop strong climate finance proposals in response to the new availability of funds. Participants highlighted the imperative for the GCF to move quickly to deliver effective country-driven support. While the GCF may only be one part of the much larger climate finance architecture, it can play a critical role in catalyzing wider public and private financial flows. In this respect, participants encouraged the Fund to be more risk-inclined in line with its purpose. Participants raised concerns over the process to access readiness funding and the level of funding available to develop programs and longer-term finance strategies. In addition to increased risk taking, more up front support can help the GCF achieve results. Participants identified as a key priority the task of helping the GCF identify specific country needs in order to make case for the Board to allocate additional resources in line with readiness needs. Climate Finance Forum Summary 8

9 Some donors prefer to work through multilateral banks. This approach is often seen as the most effective given donors at times limited in house resources and the multilateral banks contacts in the host-countries financial ministries, which ensures the involvement of key decision makers to truly effect change, show proof of concept, and achieve replicability at large scale. However, participants raised the point that there is often tension between national implementation entities and the multilateral banks, including because of the demanding task of coordinating between all entities to effectively support country driven priorities. Finally, participants noted that how to effectively use Adaptation Fund, Least Developed Country Fund (LDCF), Climate Technology Center and Network (CTCN) and GEF in support of Paris is a key question that can be resolved this year. Summary of Day 2 May 21, 2016 Session 6: Climate Finance for achieving Low-Carbon and Resilient Development The GCF, Germany and the UK described how their respective programs can support developing countries efforts to reach their NDC targets. The discussion showed that funders criteria, including country ownership, mitigation potential, ambition and sustainable development co-benefits, significantly overlap. Therefore, time and effort spent aligning a climate change mitigation project or program to one set of funding criteria will also be useful for pursuing other funding programs. Ousseynou Nakoulima, GCF (Director of Country Programming) provided insights on the state of play at the GCF. The GCF continues to develop its readiness support program, building on the significant work already done on the establishment and accreditation of National Designated Authorities, with the aim of supporting the development of comprehensive, transformational country programs. In addition, the GCF plans to provide a stronger platform for exchange between its network of accredited entities and countries. Mr. Nakoulima invited participating developing countries to engage with the Fund to help expand the type of support the GCF can provide in converting and implementing their NDCs. Alexander Fisher, Germany (International Climate Policy Advisor, BMUB) spoke about the BMUB s International Climate Initiative (IKI), which finances climate and biodiversity projects in developing countries. IKI s two-fold strategy is to combine support for on-the-ground activities with conceptual work to advance the goals of the UNFCCC and the Convention on Biological Diversity. Since IKI funds flow through an intermediary, Mr. Fisher encouraged countries to identify intermediaries best suited for their needs and that can also fulfill IKI s strict fiduciary standards. Mr. Fisher also commented on the importance of creating opportunities for exchanging experiences and lessons learned. He emphasized Climate Finance Forum Summary 9

10 the importance of identifying key champions within the relevant sectoral ministry, such as the Forum country participants, to achieve real change. Abu Zaki, UK (Climate Finance and Policy Manager, Department of Energy and Climate Change) spoke about the UK International Climate Fund and shared his perspective on capacity building, which he divided in three categories: creating an enabling environment; developing a pipeline of projects; and increasing the flow of climate finance. The UK is developing a new technical assistance program to support capacity for Low-carbon Energy, including through project development and implementation. Mr. Zaki invited participating countries to share their input on how the UK climate fund could best support countries on the ground, including identifying the best delivery partners and best practices. Session 7: Country NAMA Presentations In two concurrent breakout sessions, countries presented their NAMAs, creating a unique opportunity to receive feedback from donors. Best practices for developing proposals can be distilled as follows: Alignment with national strategies and priorities and strong government engagement is critical; Private sector involvement is key to transformation; Barriers should be clearly identified and proponents should demonstrate how activities will overcome them; Proponents should establish the theory of change, including how the project will change behaviors and how the support requested clearly helps achieve a climate benefit; Countries should identify a strong partner for implementation; and Proposals should contain a clear exit strategy for donor funding. Climate Finance Forum Summary 10

11 Breakout Session 1 Breakout A: Transformational Proposals in Distributed Renewable Energy Luis Muñozcano, Mexico (Deputy General Director of Renewable Energy, Ministry of Energy) presented on Mexico s program for increasing distributed generation from solar energy and eliminating the electricity subsidy. Respondents noted the comprehensive approach of the program and encouraged the country to further demonstrate how it will make efficient use of resources and deliver net savings for the whole system beyond consumers who implement solar rooftop installations. The country was also encouraged to further refine its financial mechanism to attract commercial banks to identify a strong partner to ensure successful implementation. Martín Scarone, Uruguay (Renewable Energy Engineer, Ministry of Energy, Industry and Mining) presented an innovative program that blends mitigation and adaptation by increasing resilience of the agricultural sector through the development of irrigation systems that also enable the development of small hydropower dams. Participants pointed out the importance of determining the appropriate level of concessionality to make investments attractive to the private sector without disrupting the market. It was suggested that Uruguay apply for adaptation funding, which is more likely to give concessional funding than the GCF. It was also suggested that Uruguay provide additional clarity on the institutional arrangements and coordination, and who would supervise the implementation of the program. Alvaro Zopatti, Argentina (Director of Climate Change Mitigation, Ministry of Environment and Sustainable Development) presented the PROBIOMASA NAMA, which is aimed at increasing biomass based energy generation. The respondent noted how the project proponents have been flexible in adapting the project to changing conditions to keep the project going, particularly in light of changes in leadership and national priorities following the 2015 presidential election. One way of mitigating these risks and increasing buy-in is to involve at least two sectors in the project. It was suggested to assess technical risks linked to the availability of sustainable supply of feedstock and construction risks, including financing. The financial analysis should be revisited to make sure that energy generation is competitive with existing prices. Breakout B: Transforming Transportation through Climate Finance Elena Mejia, Ecuador (Specialist on Climate Change and Environmental Policy, Ministry of Environment) presented the Clean Mobility NAMA, emphasizing how the project seeks to change behaviors and create new models for urban mobility to reduce transport emissions and advance electric mobility. The respondent stated the project was a strong example of a transportation project that distinguished between the on-going public transport components and the additional climate mitigation components that would be supported with climate finance. He suggested the country clarify exactly how the climate finance would be utilized and by what kind of instrument, and articulate an exit strategy. Climate Finance Forum Summary 11

12 Ana Laura Morais, Panama (Director of Planning, Panama Metro) presented the Integrated Sustainable Urban Mobility NAMA aimed at leveraging the investment in the Metro to create a comprehensive urban mobility framework that integrates public transit, mobility management, land use planning, urban design, and pedestrian improvements. Respondent feedback included guidance to better articulate how climate finance would strategically complement investments in the Metro system and catalyze GHG emissions reductions. Tran Anh Duong, Vietnam (Director General, Department of Environment, Ministry of Transport) presented the Low-Carbon Bus NAMA, which aims to introduce hybrid buses, operational efficiency improvements, and public transport system improvement. The respondent complimented the project for its high level of ambition and encouraged the country to further refine how it plans to deliver results. This work includes showing how the project plans to change behaviors and increase the number of people that use the public transportation system, what kind of enforcement will be put in place for the operational efficiency measures, and what kind of coordination will be put in place between the different agencies involved. Breakout Session 2 Breakout A: Energy Efficiency Baptiste Chatré, Ecofys (Climate Strategy Consultant) presented Tunisia Renewable Energy and Energy Efficiency NAMA in the Building Sector. The program has three components, the first aimed at incentivizing rooftop solar installations, the second promotes the use of solar water heaters, and the third incentivizes thermal insulation. The respondent noted the comprehensive nature of the NAMA. He encouraged the country to provide more clarity on barrier identification and mechanisms to addressing barriers. He also noted the large amount of international support being requested and suggested the country offer more clarity in its financing request regarding the level of funding and types of instruments (e.g., grants versus loans) being sought from whom (development banks versus GCF). Dares Kaewket, Thailand (Environmental Officer, Office of Natural Resources and Environmental Policy and Planning (ONEP), Ministry of Natural Resources and Environment) presented the ESCO NAMA, aimed at increasing investments in energy efficiency by transforming the Energy Services Company (ESCO) market. The respondent complimented the NAMA for providing clarity on what is to be financed, on barriers identified, and solutions offered. The respondent commented it was clear that ONEP, working with GIZ, has experience on approaching the NAMA Facility. The country was encouraged to better explain the reason for the wide range of government co-financing and explain the conditions under which it would give lower or higher co-financing. Climate Finance Forum Summary 12

13 Breakout B: Reducing Emissions from Agriculture, Livestock, and Waste Ivannia Quesada, Costa Rica (Vice Minister, Ministry of Agriculture and Livestock) presented the Livestock NAMA, which aims to increase competitiveness of the agricultural sector while reducing its carbon footprint. The respondent complimented the project for its good structure and depth in the technical and economic analysis, its alignment with national strategies, and for having selected technologies and tailored solutions to national needs. It was suggested that more details be provided on what portion of the national contribution will come from the private sector and what portion will come from public funds. Costa Rica is currently developing the financial mechanism for the project with the additional goal of making it suitable to support the implementation of other NAMAs. Viviana Huerta, Chile (Coordinator of Project Management, National Center of Innovation and Promotion of Sustainable Energy) presented the Waste NAMA, which aims to create enabling conditions for waste-to-energy projects and alternatives to conventional waste disposal, through technical and financial assistance to develop a bankable project pipeline. The respondent observed that the program will create the first instrument that links the development of both the energy and waste sectors. He praised the project for very clearly linking the proposal to the identified barriers, and encouraged the country to further develop the financial case, including how it will engage the private sector. Participants noted that support for pre-investment activities is key to identify the best opportunities, make adequate selection of technologies and ensure the economic feasibility of the project. Session 8: Strengthening the Pipeline of Projects for Climate Finance Soren Lutken, NAMA Facility Technical Support Unit (Senior Climate Finance Advisor) presented on the NAMA Facility s experience. With other funding mechanisms focused on supporting NAMA development, the original mission of the NAMA Facility was to fund their implementation. However, the Facility s experience revealed that most projects submitted over the last three calls for proposals are not implementation ready. While proposals often identify the type of financing needed, most lack clarity on the financial engineering, as well as a sustainable phase out concept. Mr. Lutken encouraged applicants to consider financing institutions criteria from the beginning of the project development to ensure eligibility. Participants discussed how to bridge the gap between readiness and implementation and raised the fact that developing countries have limited staff for preparing fully fleshed out proposals, especially when the likelihood of receiving implementation funding is perceived as limited. Helping to bridge this gap, in its 4 th call, the NAMA Facility is offering increased support as part of the preparation phase to help improve the design of financial mechanisms. Climate Finance Forum Summary 13

14 Conclusion and Next Steps Leila Yim Surratt, CCAP (Chief Operating Officer) provided concluding remarks. The NAMA presentations provided strong examples of sectoral mitigation programs under development and how they combine policy and institutional reforms with financial mechanisms to catalyze private sector investment in lowcarbon projects. The provision of technical assistance support to develop these projects often occurred with multiple types of support through multiple funders and included: technical, policy and financial analyses, project pipeline development, financial structuring, implementation planning, and support to seek donor funding. Throughout the process, there needs to be champions within the government to move the process forward. Whether a program is financeable or not ultimately depends on the funder and whether that specific funder s approval criteria are met. Therefore, identifying the targeted funding source(s) and intermediary early in the process can help ensure that the program is designed in a way that will meet the funder(s) criteria. It was broadly agreed upon that with the projects presented, additional support is needed to help them secure implementation funding, and that the GCF readiness program can provide such support. Towards this goal, CCAP is convening a GCF readiness workgroup to provide input on the range of readiness support needed for NDC conversion and implementation, as well as ways to streamline and simplify access to these resources, with a view to promote well-targeted and timely assistance in support of countries climate goals. Ned Helme, CCAP (Strategic Advisor) surveyed the country participants to identify countries interested in participating in the workgroup. Chile s program to develop a national climate finance strategy was seen as an important element of NDC conversion and implementation. It could provide a financing roadmap for how to move forward with NDC implementation, highlight ways to integrate climate with development programs, and help integrate the myriad of country plans required by different international funding sources including the multinational development banks, the GEF and the GCF. The need for private sector engagement was a leading theme throughout the Forum, both as a source of investments for low-carbon technologies as well as an important political stakeholder to enlist to support NDC implementation, recognizing that different countries have different perspectives on the role of the government and the role of the private sector within the political economy. Future dialogues and support should continue to highlight ways to engage the private sector to ensure that NAMAs are effective in mobilizing their investment and support. Under the MAIN program, CCAP will continue supporting MAIN countries in NDC conversion and implementation, and increasing bilateral, on-the-ground support for mitigation actions in the energy, transport, agriculture and waste sectors. Countries interested in technical assistance from CCAP should contact Leila Surratt (lsurratt@ccap.org), Gerardo Canales (gcanales@ccap.org), or Stan Kolar (skolar@ccap.org). Climate Finance Forum Summary 14

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