THE CRGE FACILITY AND THE SRM Realising Ethiopia’s

Transcript:THE CRGE FACILITY AND THE SRM Realising Ethiopia’s:
THE CRGE FACILITY AND THE SRM Realising Ethiopia’s Climate Resilient Green Economy FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA ENVIRONMENTAL PROTECTION AUTHORITY ETHIOPIAN DEVELOPMENT RESEARCH INSTITUTE MINISTERY OF FINANCE AND ECONOMIC DEVELOPMENT Climate change results in changes to weather which will impact across the whole economy. A climate resilient economy will be protected from the negative impacts of climate change and seek opportunities in a changing climate. Builds on and incorporates the Ethiopia’s Program of Adaptation to Climate Change (EPACC) and other relevant analysis. To build a middle-income climate resilient green economy by 2025 through zero net carbon growth Reference in SRM document: Sections 2 (the context) and 3 (the barriers) THE VISION FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA CLIMATE RESILIENT (CR) GREEN ECONOMY (GE) Ethiopia is committed to be a middle income country by 2025 (USD $1000 GDP per capita) Development ambition is laid out in the Growth and Transformation Plan (GTP) A commitment to foster zero net carbon growth This low carbon growth create employment and provide wider socio-economic benefits. The CRGE Initiative was created to achieve the overarching vision of a climate resilient and green economy THE CRGE INITIATIVE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA CLIMATE RESILIENT GREEN ECONOMY STRATEGY LED BY EPA COMPLETED IN SEPT 2011 VISION LED BY EPA COMPLETED IN SEPT 2011 LED BY EPA DUE FOR COMPLETION IN MARCH 2013 SECTORAL REDUCTION MECHANISM FACILITY (FINANCE) REGISTRY (ACTIONS) LED BY EPA LED BY EPA and MOFED CLIMATE RESILIENT GREEN ECONOMY LED BY EPA FINANCE Reference in SRM document: Sections 5.1 (establishment of a register) and 5.2 (the CRGE facility) ANALYSIS & POLICY CAPACITY BUILDING SUPPORT The CRGE Facility was created to finance the implementation of the CRGE, it is a bank housed within MOFED which will convert to a Green Investment Bank THE CRGE FACILITY FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA CRGE FACILITY OBJECTIVES Help mobilize finance required for implementing the CRGE. Sources of finance will come from government, private finance, development partners, carbon trading schemes and financial mechanisms of multilateral environmental agreements. Provide financial support to enable actions to reduce emissions and vulnerability. Done through the provision of grants, guarantee's for loans, co-financing, concessional loans or ex-post rewards in the form of payment for verified results. Provide financial support to build capacity of implementing and executing entities. Structure of the CRGE Facility Two windows: a Strategic window-exclusively provide support for implementation of activities that have been identified through