*/ From Climate Resilient Green Economy Vision to

Transcript:*/ From Climate Resilient Green Economy Vision to:
*/ From Climate Resilient Green Economy Vision to Sectoral Investment Plans: The Sectoral Reduction Mechanism (SRM) and The CRGE Facility October 28 2013 Oslo Background Ethiopia is the second most populous country in Africa It is one of the fast growing countries in the world Has officially declared (During COP-17) and pursed to building a Green and Climate Resilient Middle income Economy with a Zero net emission by 2025 The Ethiopian CRGE Initiative Architecture The Ethiopian CRGE Initiative Cont.) The CRGE vision has identified several (>60) initiatives across seven sectors to achieve the net zero emission middle income economy The prioritized green economy initiatives are divided in to three categories: Own initiatives: that are planned and fully funded by the government Supported initiatives: that are planned by the government but require support in implementation Market-based initiatives: for which Ethiopia might be able to monetize carbon credits in exchange for GHG abatement The Sectoral Reduction Mechanism (SRM) Is a mechanism for mobilizing action on climate change on the ground Intends to contribute to the CRGE Vision through provision of upfront support and ex-post payment for the preparation and implementation of reduction interventions (both GHG and CC vulnerability reductions) The SRM Conceptual Foundation Understand the base year situation Project the business as usual scenario Undertake action The SRM Objectives: i. Create a Transformative Impact The mechanism will systematically integrate climate change and sustainability considerations into all of Ethiopia’s economic planning (on going and next Generation GTP) ii. Increase Investment Helps to leverage finance by making catalytic investments Through the Facility, allocates finance to approved actions, which contribute to the CRGE goals Ensures provision of matching fund to private sector investments which have market potential The SRM Objectives: iii. Improve Coordination Clarifies roles and responsibilities to institutions and committees and assigns accountability across all phases Develops and institutionalizes a process to coordinate among the involved institutions iv. Overcome barriers The mechanism attempts remove policy, institutional, technological, behavioural and technical skill barriers in order to redirect existing and planned capital flows from traditional high-carbon to low-emission, climate-resilient investments The SRM Objectives (cont.) v. Create Synergies- with conventions such as the UNFCCC, and the Convention on Biological Diversity, the Convention to Combat Desertification, etc. The SRM Steps 1. Planning The Technical Unit, MoEF provides technical guidance for sectors on SRAs preparation The CRGE-F in MoFED provides statement on the availability of funds that can be