Jamaica has signed its second readiness Grant Agreement with the Green Climate Fund (GCF), valued at US$582,000, to ensure private sector investment in support of climate resilient, low-carbon growth
Jamaica has signed its second readiness Grant Agreement with the Green Climate Fund (GCF), valued at US$582,000, to ensure private sector investment in support of climate resilient, low-carbon growth.
The grant follows the placement of National Climate Finance Adviser Katherine Blackman in Jamaica by the Commonwealth Climate Finance Access Hub.
The Hub is designed to assist vulnerable states in accessing climate finance for urgent mitigation and adaptation projects.
Blackman has helped secure funds for a project to mobilise action on climate change by the private sector, which will be implemented by the Climate Change Division of Jamaica’s Ministry of Growth and Job Creation.
Funding will go towards hosting a national consultation with micro, small and medium enterprises, piloting a regional scoping study and action plan, delivering project concept development training, and supporting the accreditation of regional private sector bodies.
The opportunity will be given for the private sector to familiarise itself with the role of Green Climate Fund’s Private Sector Facility and collaborate with government and non-governmental organisations on mitigating the effects of climate change.
Efforts to secure the grant go back to 2016, when the Ministry of Growth and Job Creation convened a meeting to engage the private sector in climate action, which led to a series of initiatives and events to produce a Green Climate Fund-approved readiness proposal.
A representative from Green Climate Fund then reinforced private sector interest in April 2017.
The grant will support Jamaica’s first readiness grant to develop a national programme to engage with GCF and strengthen the Climate Change Division’s authority within the Ministry.
