Green Climate Fund to support the development of major proposals to increase climate resilience by conserving ecosystems at scale

The Green Climate Fund (GCF), The Nature Conservancy (TNC) and World Wildlife Fund (WWF) have committed up to USD 4.5 million for the preparation and design of the Climate Resilient Enduring Earth (CREE) initiative. CREE consists of two separate but linked proposals, one from TNC and the other from WWF.

The initiative aims to increase the climate resilience of Nature and People in Botswana, Namibia, Guatemala, and Bolivia. CREE will do so by permanently conserving up to 85 million hectares of new land and water through the demarcation of new protected/ conserved areas and/ or greatly enhanced management of existing such areas. For perspective, this is greater than the size of the UK and France combined.

CREE will directly support the four countries to achieve their 30 per cent protected or conserved areas by 2030 (30 x 30) Target, per their commitments under the landmark 2022 Global Biodiversity Framework.

Henry Gonzalez, GCF’s Chief Investment Officer, said: “The Climate Resilient Enduring Earth concept, supported by GCF’s Project Preparation Facility (PPF), is a pioneering approach to protecting and conserving valuable land and water in the face of climate change. The scale of the initiative embodies the kind of innovative, nature-based solutions we need to meet our global climate ambitions. It is also transformative in helping to meet our 30 per cent by 2030 global conservation ambitions.”

Ryan Bidwell, Global Director, Project Finance for Permanence, The Nature Conservancy said: “These projects will deliver impact at scale in Botswana and Guatemala, supporting communities to adapt to climate change and build nature-positive economies while protecting biodiversity. The Nature Conservancy is humbled to provide support to their governments and communities to design impactful proposals with scale and durability. By doing so, we can channel climate finance to the people who need it most and ensure resilient communities and landscapes for generations to come.”

Lucas Black, Vice President of Climate Finance & Head of the GCF Accredited Entity Unit at WWF, said: “Climate change is severely impacting protected and conserved areas in Bolivia and Namibia, undermining their potential to deliver critical ecosystem services to millions of people who depend on them. WWF is proud of our existing partnership with GCF supporting PFP initiatives that deliver climate benefits in Colombia and Bhutan. This new support from GCF will support Namibia and Bolivia to scale-up and finance nature-based solutions in their conserved areas to meet key climate and biodiversity targets.”

The commitment, announced today on the Forests, Oceans, and Biodiversity Day at COP30, in Belem, Brazil, includes USD 2.4 million from GCF’s Project Preparation Facility.

CREE builds on the Enduring Earth Partnership’s strategy around Project Finance for Permanence (PFP), a proven model adapted to ecosystems from the infrastructure finance sector. PFP represents a major advancement in conservation finance, as it directly addresses scale and permanence – both of which have been historically elusive.

The initiative will also seek to leverage significant fiscal and climate/ natural resource policy reforms and introduce new recurring domestic finance mechanisms to ensure the sustainability of investments.

The GCF, TNC, and WWF funding aims to produce a detailed design proposal(s) for an anticipated USD 375 million in overall funding from the three partners as well as major philanthropies. Project preparation support from the GCF will enable TNC and WWF to conduct feasibility studies, environmental and social assessments, inclusive stakeholder consultations and other aspects of investment design to maximize the impact of the programme.