Ecuador faces significant barriers to scale its climate ambitions relation to both funding and private sector engagement. One of these main barriers is the lack of an exclusive national climate finance mechanism that fosters impact on climate change mitigation and adaptation. Furthermore, the lack of Ecuador’s Carbon Zero Program (PECC for its acronym in Spanish) capacity to engage stakeholders and scale up the greenhouse gas (GHG) emissions reduction and offsetting scheme hinders Ecuador’s ambition for climate change mitigation. 

The readiness proposal aims to boost the mobilization of climate finance in Ecuador and strengthen PECC’s potential to raise climate change mitigation ambitions.  

By the end of the Readiness grant: 

• Long-term international climate finance flows to Ecuador will be secured through the design and implementation of a new climate finance vehicle in benefit of both public and private sectors.  
• The PECC will be strengthened through increasing the participation of private stakeholders committed to climate change mitigation through sustainable production and consumption practices.