The Green Climate Fund has achieved a major milestone in its relationship with China by signing its first Accreditation Master Agreement (AMA) with a Chinese entity.
The signing of the AMA with China’s Foreign Economic Cooperation Office (FECO) in Beijing on 15 March cements the status of this arm of the Ministry of Environmental Protection as an Accredited Entity.
FECO Director General Chen Liang said the AMA signing will help FECO “push forward carbon emission control and low carbon development in key areas to make greater contributions to promoting ecological civilization and improving environmental quality.”
GCF General Counsel Rutger de Witt Wijnen said the Fund is delighted to have accredited its first entity from China. The signing marks the 20th endorsement through AMAs of GCF’s Accredited Entities.
Accredited Entities are key to GCF’s climate finance work as they bring forward funding proposals to the Fund and then oversee, supervise, manage and monitor these proposals when approved.
Since its establishment in 1989, FECO has carried out hundreds of environmental initiatives, including in the areas of climate change, biodiversity conservation, chemical and waste management.