Readiness Project: SURECO & Partners and ALIDE organized a virtual workshop about the accreditation to Green Climate Fund
- During the workshop, the Environmental and Social Safeguards and Gender guides were presented.
September 14, 2022- In the framework of the Readiness Project – ALIDE, a virtual workshop was organized by the Latin American Association of Financial Institutions for Development (ALIDE) and SURECO & Partners to promote the “Environmental and Social Safeguards Guide” and the “Gender Guide” that facilitate the accreditation process of institutions to the Green Climate Fund (GCF)
ALIDE’s Head of Economic Studies and Information, Romy Calderón, highlighted the importance of identifying projects focused on environmental and climate development and encouraging the private sector to mobilize resources for these projects.
Also, he noted that the Readiness Project, as part of ALIDE’s permanent job, impulse the transition to a zero carbon economy. This is an objective of global interest that should have the active participation of development banks and private banks.
During the workshop, the consultants of SURECO & Partners, Cristina Cox y Gloria Zarazua, presented the “Environmental and Social Safeguards Guide” and the “Gender Guide” as an important tool to orient the actions of public and private institutions, who wish to be accredited with GCF.
For its part, SURECO & Partners CEO, Jessica Jacob, highlighted the Readiness Project’s achievements and said that although the work of the program focused on Argentina, Cuba, Guatemala, Paraguay, Dominican Republic and Uruguay, had a regional opening for more Latin American countries could participate in the results of the consultancy.
What is the Readiness Project?
It’s a regional project that seeks to convert the (individual) efforts of banks into coordinated initiatives in the financial sector that increase the number of accredited entities and the number of projects proposed in line with the countries’ climate policies and frameworks.
In December 2020 the regional readiness project “Enhancing Climate Finance and Investment in LAC Banking Sector” was approved, presented to the Green Climate Fund (GCF) by a group of 6 countries: Argentina, Cuba, Guatemala, Paraguay, the Dominican Republic, and Uruguay. who decided to collaborate with the Latin American Association of Financial Institutions for Development (ALIDE), delivery partner of the project.
Readiness in development banking seeks:
- Facilitate the process for Development Banks (DBs) to become GCF accredited entities.
- Improve the characterization of climate portfolios and the status of environmental and social policies and safeguards.
- Identify investments opportunities
- Provide technical assistance to identify and support gap assessment; develop a climate action plan; and prepare guidance documents for environmental and social policies/safeguards, adjusting them to the needs of the entities.
- Coordinate the access of the information to strengthen national sustainable finance platforms.
ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.