Green Climate Fund Readiness and Preparatory Support Programme II: Scaling up Thailand's climate finance readiness
CONTEXT
Building on the results of the first GCF Readiness phase from January 2017 to June 2018 (see the 1st phase), the Office of Natural Resources and Environmental Policy and Planning (ONEP), as the Green Climate Fund (GCF) National Designated Authority (NDA), extended implementation for the project “GCF Readiness and Preparatory Support Programme II: Scaling up Thailand’s climate finance readiness”. The 2nd phase aims to scale up the country’s climate finance readiness to further increase the GCF’s engagement and investment in Thailand with various stakeholders.
OBJECTIVES
- To support in building up the necessary knowledge and skills for ONEP as NDA, i.e. analysis of climate finance landscape, climate investment opportunities and entry points, and engagement with the private sector
- To support the accreditation of a direct access entity (DAE)
- To identify GCF project development opportunities including Thai priorities and mechanisms to access finance;
- To identify opportunities and barriers of private sector investment and provide policy recommendations to mobilize private capital in climate-change topics;
- To increase awareness among Thai private sector stakeholders regarding GCF engagement benefits and opportunities.
APPROACH
The project strengthens the NDA’s knowledge and capacity to engage with private sector actors including the banking sector and particularly the Thai national banks, the Ministry of Finance and its agencies.
In further support of the NDA, priorities laid out in the Thailand Country Programme are being converted into nationally appropriate and viable project ideas for the country’s GCF pipeline. The project strengthens the NDA’s national, regional and international networks, as well as enhances and coordinates private sector participation. It also supports the Bureau of the Environmental Fund as a nominated direct access entity to compile and submit an application to the GCF.
RESULTS SO FAR
The GCF Readiness II is now in completion status. Research studies from the consultants have been finished and presented to the ONEP. Throughout the GCF Readiness II project, the private-sector engagement and consultations were arranged with leading commercial and state-owned banks in order to understand the perspective of the banking sector of barriers to financing for climate-change projects.
Results from the research, analysis and engagement with private sectors has led to identification of common investment barriers and opportunities in targeted sectors, as well as how GCF could potentially bridge the gap and provide support.
On the mitigation side, analysis suggests that Thailand should move forward with the transportation and industry sectors in the development of concept notes as well as to determine potential institutions to become and direct accredited entities.
On the adaptation side, the recommendation is geared towards improving and strengthening understanding in the human settlement and health sectors with more in-depth readiness studies focusing on data collection and analysis.
See also the Green Climate Fund (GCF) phases 1 and 3.
FINANCED BY
- Green Climate Fund (GCF)
- The German Federal Ministry for Economic Cooperation and Development (BMZ)
COUNTRY
Thailand
PROJECT PARTNERS
Office of the Natural Resource and Environmental Policy and Planning (ONEP), Ministry of Natural Resources and Environment (MNRE)
PROJECT DURATION
03/2018 – 02/2020
MORE INFORMATION
Mr Heinrich Gudenus
Email: heinrich.gudenus(at)giz.de