NAMA Facility Hosts COP26 Side Event on Climate Finance and Ambition Initiative – Round Two
A panel on climate finance, ambitious NDCs and a green recovery, moderated by the NDC Partnership with representation from Donor agencies, including UK BEIS and BMU (Germany) as well as Costa Rica, Kenya and Nepal, recipients of Ambition Initiative funding
The NAMA Facility Announces Results of the Ambition Initiative Call and Launches its Second Round
COP26 yet again offered a platform for the NAMA Facility to make a few exciting announcements in the realm of climate action. Four selected NAMA Support Projects from the Ambition Initiative were announced to the public on 9 November 2021 during the NAMA Facility’s side event held at the NDC Partnership’s COP26 Pavilion in Glasgow, UK. These projects from Costa Rica, Kenya and Nepal across three sectors will have 10 (or in some cases 15) months to elaborate technical and financial project details to prepare for the project’s implementation.
As a second major highlight, the German Ministry for Environment, Nature Protection and Nuclear Safety (BMU) announced that up to EUR 100 million of funding have been made available for Ambition Initiative – Round Two. This Call, the 9th since the NAMA Facility’s founding, will offer developing countries and emerging economies another opportunity to submit project ideas based on their updated Nationally Determined Contributions (NDCs) to further mobilise ambitious climate action. The new Call also highlights NAMA Facility Donors’ commitment to supporting countries that are eager to drastically cut their greenhouse gas emissions to limit a global temperature rise within the 1.5-degree goal set in Paris Agreement.
The side event was opened by various speakers including Norbert Gorißen, Director of the International Climate Initiative (IKI) and Deputy Director General of the German Ministry of Environment, Nature Protection and Nuclear Safety (BMU), Minister Jo Churchill from the UK Department for Environment, Food and Rural Affairs (DEFRA) and Justin Johnson, Director of Climate from Children’s Investment Fund Foundation (CIFF). They commended the NAMA Facility for its efforts in providing countries with both financial and technical support to tackle climate change. Radina Vassileva of the Technical Support Unit, the porfolio manager for the NAMA Facility, presented on the outcomes of the first round of the Ambition Initiative and key features for both rounds.
Titled, “From mobilisation to action: how climate finance supports ambitious NDCs and a green recovery from Covid-19. Examples of the NAMA Facility Ambition Initiative”, the side event also featured a panel discussion with Donor and recipient country representatives. Donor representatives included Waqas Batley of the UK Department for Business, Energy & Industrial Strategy (BEIS) and Dr. Philipp Behrens of BMU as panelists.
In addition, Minister Andrea Meza joined the panel on behalf of the Ministry of Environment and Energy (MINAE) of Costa Rica while Nepal saw representation from Dr. Pem Narayan Kandel, Secretary from the Ministry of Forestry and Environment (MOFE). Mr. Mamo Boru, Director General of the National Environmental Management Authority (NEMA) of Kenya spoke on behalf of Kenya.
Moderated by Pablo Vieira, Global Director of the NDC Partnership, the panel discussion covered various topics, including the role of climate finance in supporting ambitious NDCs, opportunities to balance climate action efforts with a green recovery from Covid-19, the focus of the Ambition Initiative and ways to foster innovation within the NAMA Facility’s portfolio of projects.
Batley, who represented BEIS on the panel expressed that “the magic of the NAMA Facility is that it allows us to run with pilot projects to demonstrate the business case of reducing emissions.” Describing what motivates countries to apply to NAMA Facility funding, Minister Meza of Costa Rica, stated, “the magic of the NAMA Facility is that it allows us to run with pilot projects to demonstrate the business case of reducing emissions.”
Read about the selected winners of the first round of the Ambition Initiative.
Read the Announcement for Ambition Initiative – Round Two.
Learn about the Ambition Initiative – Round Two application process.
Find the event recording (please note this is a Facebook link).
Download the NAMA Facility presentation in the Knowledge and Learning Hub.