Support for accreditation gap assessment and action plan to GEDF

Document cover for Support for accreditation gap assessment and action plan to GEDF
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Support for accreditation gap assessment and action plan to GEDF

Georgia as Party to the Paris Agreement within the UN Framework Convention on Climate Change is in the process of updating its main document - Nationally Determined Contribution (NDC) - demonstrating its commitment in combating climate change and further limiting greenhouse gas emissions. Georgia will achieve its enhanced low carbon trajectory through increased reliance on renewable energy sources and a further reduction in the demand for fossil fuel in the country.

Developing alternate renewable energy is still challenging in Georgia, as it is associated with high costs, therefore in order to be materialized it is critical for the country to have access to international climate finance.

Georgia does not have a Direct Access Entity to the GCF, which hinders the development and implementation of country owned projects and programmes. The country has already faced challenges in identifying AE’s to implement projects which is a priority in Georgia’s Country Programme document.

JSC “Georgian Energy Development Fund” is a state-owned fund, established to support the country in promoting alternate renewable energy sources. Mission of JSC “Georgian Energy Development Fund” is to promote realization of country’s energy potential, retrieval of appropriate funds, by developing projects and their effective implementation.

Through accreditation to the GCF, GEDF will be able to support the country to access climate finance and deliver its climate and energy related goals.

This request is to undertake assessment of the entity’s conformity at the institutional level with the Fund’s fiduciary standards, Environmental and Social safeguards and gender Policy

Furthermore, to complete and upload of supporting documents for GEDF’s online accreditation system/application.

Cover date 27 November 2020
Document type Approved readiness proposal