The Green Climate Fund (GCF) is beginning its first readiness funding to Malaysia in partnership with the Carbon Trust. The project, which was announced at the UN climate change conference in Bonn, will see the Carbon Trust supporting Malaysia’s Ministry of Natural Resources and Environment, a GCF Nationally Designated Authority.
GCF’s Readiness and Preparatory Support Programme provides grants and technical assistance to strengthen developing countries’ capacities to access climate finance.
Dato’ Sr Dr Azimuddin Bahari, deputy Secretary General at the Malaysian Ministry of Natural Resources and Environment, said his country looks forward to working with the Carbon Trust “due to its global reputation for providing strategic advice on low-carbon transitions.”
Malaysia’s first GCF Readiness project includes work in three distinct areas: prioritization of potential energy sector mitigation programmes, support to a Malaysian organisation to become a direct access Accredited Entity, and the development of a concept note for a Malaysian Green Cities Fund.
All three activities will commence in late 2017, and will have a strong focus on stakeholder engagement.
Hailing the move, Tom Delay, Chief Executive of the Carbon Trust, said “the effective transition to low carbon in emerging economies will form the backbone of global efforts to mitigate the damaging impacts of climate change.”