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LuxDev is Green Climate Fund accredited!
LuxDev is proud to announce that, during the 22nd Meeting of the Board of the Green Climate Fund in Songdo, South Korea, the Agency was accredited to the GCF as an international accredited entity.
22nd Meeting of the Board of the Green Climate Fund / © GCF
Following this accreditation, the Luxembourg Development Cooperation Agency will have access to a new source of funding that will complement official development assistance (ODA) funding and, hence, contribute to a continuous shift to low-emission and climate resilient sustainable development.
This will allow LuxDev to contribute to furthering the objectives of the GCF and increasing the share of adaptation and mitigation efforts to combat the fierce effects resulting from climate change and affecting the most vulnerable.
© GCF
As climate change will disproportionately affect the poorest and most vulnerable people and communities around the world, LuxDev has a role to play both in helping governments and communities adapt and respond to current and future effects from climate change as well as reduce their vulnerability by building lasting resilience, and contribute to the achievement of the SDGs.
The accreditation will help the Agency continue its mission regarding climate change. Over the years, LuxDev has systematically integrated environment and climate change into the bilateral development work and is building up a significant experience in adaptation and mitigation projects. Considering the OECD DAC Rio markers, by mid 2015, 42% of on-going project results were tagged with the aid to the environment, 16% climate change adaptation, 10% climate change mitigation, and 6% biodiversity and desertification, respectively.
In this particular case, LuxDev’s strength is the steady and continuous support in a limited number of developing countries and sectors, with long-established, lasting interventions in nine priority countries: Cabo Verde, Burkina Faso, Mali, Niger, Senegal, Nicaragua, El Salvador, Laos, and Vietnam. Three project countries are to be added to this list: Mongolia, Kosovo, and Myanmar. All these countries are either highly exposed to climate related risks, have limited adaptive capacities, rely strongly on climate change sensitive economic sectors (e.g. agriculture, fisheries, forestry, tourism), and/or are exploiting the natural resource in a non-sustainable manner.
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