The Green Climate Fund (GCF) is a financing mechanism of the United Nations Framework Convention on Climate Change (UNFCCC) and is specifically established to provide financial support so that countries like Indonesia can reach its emission reduction targets. As of May 2018, the GCF portfolio has 76 projects worldwide worth USD 12.6 billion with an anticipated equivalence of 1.3 billion tonnes of CO2 avoided and 217 million people with increased resilience.
Indonesia has enjoyed strong and consistent economic growth of around 6% per annum over the past 15 years. The nation aims to become a high-income country in the 2030s. This will require continued rapid economic growth. However, Indonesia is also the world’s fifth largest emitter of greenhouse gases and the largest contributor of forest-based emissions. Therefore, Indonesia’s success in achieving this ambitious goal will be determined by the country’s ability to deliver rapid yet inclusive and sustainable economic growth, aligned with the national climate pledges in the Paris Agreement to reduce emissions by 29 percent financed by its own resources (unconditional commitment), and by 41 percent that is subject to international assistance by 2030.
The GCF supports countries such as Indonesia in a paradigm shift to low-emission and climate-resilient development. How do we access the funds? The Fiscal Policy Agency under the Ministry of Finance serves as the national focal point or National Designated Authority (NDA) between Indonesia and the GCF. Learn more about GCF funding in the newly published booklet about GCF and NDA. For a personal PDF copy, download here: https://bit.ly/2lNU9PQ.