Sub-national Climate Fund

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A delegation from the World Bank has arrived in Goa for talks with the state govt to set up the first sub-national climate resilient green fund.

About Sub-national Climate Fund

  • It is a global blended finance initiative to develop mid-size climate resilient infrastructure & nature-based solutions.
  • Mission: To invest in subnational climate-smart infrastructure and nature-based solutions delivering measurable and certified climate and sustainable development impact at the local level.
  • The model is designed to attract public and private investment and to deliver certified climate and Sustainable Development impacts and Nature-based Solutions. 
  • Structure:
    • Fund Manager: It is managed by Pegasus Capital.
    • Technical assistance: International Union for Conservation of Nature (IUCN) is responsible for the Technical Assistance component of SCF. 
    • Anchor Investor of Concessional Capital: The Green Climate Fund (GCF) 
  • Governance
    • Governance of the Subnational Climate Fund (SCF) includes a High-level Advisory Committee.
    • The role of the committee is to advise the SCF Consortium on best opportunities to invest in regard to SCF mission, and more widely on the theory of change encompassed by SCF.
    • This Committee is composed of well-known experts in their field of expertise in climate science, finance/economies, sector/technical, biodiversity/nature-based solutions, and environmental/social management systems (ESMS).

Q1) What is IUCN?

The International Union for Conservation of Nature is a global organization composed of governments, NGOs, scientists, and experts dedicated to conserving nature and promoting sustainability. Its primary role involves assessing the conservation status of species, providing data and analysis on the state of biodiversity worldwide, and offering guidance and frameworks for conservation efforts.

Source: Goa to be 1st state to get World Bank climate fund