Linking NDC and GCF Programming: Climate Finance Tools for Colombia

1. Climate Finance MRV, CP2EIR, and National Climate Finance Strategy as decision-making tools to link NDC and GCF programming Colombia Unlocking the Green Climate Fund Workshop 8 to 10 October, 2018 Berlin, Germany

2. The GCF has a central role to increase the mobilization of financing for the fulfillment of NDC goals. Having a favorable enabling framework allows the impact of the investments of the GCF to be strengthened

3. Conpes 3700 of 2011 Recommends to create the National Climate Change System -SISCLIMA- including the Climate Finance Committee -CGF Political and institutional Framework Decree 298 of 2016 Establishes the SISCLIMA and formalizes the creation of the Climate Finance Committee ClimateChangePolicy 2016 Strategic and instrumental lines for climate change management in the country ColombianNationalClimateFinanceStrategy 2017 Identify mechanisms to mobilize resources in a sustainable and scalable manner to achieve National Climate Change Policy ClimateChangeLaw 2018

4. Colombian National Climate Finance Strategy Components

5. ColombianNationalClimateFinanceStrategy • How much is required to finance CC in the country (demand for resources) • What sources exist (tracking) • How to achieve it (economic and financial instruments) Climate finance gap Public Financing (Domestic) - International Public Resources - Domestic Private Resources Monitoring reporting and verification - MRV climate finance in Colombia

6. Colombia is one of the first developing countries to have an on line platform for tracking public, private and international climate finance flows http://mrv.dnp.gov.co

7. Not a one time project, but a country process to support decision making   The three issues from the strategy Demand for resources Sources (tracking) How to achieve it (economic and financial instruments)  Optimization of $  NDC More Leveraged and Mobilized $

8. Institutional framework and climate change policy in Colombia Review Climate Finance MRV was built simultaneously with the CP2EIR process in the country Analysis of private finance Analysis of national public finance Analysis of climate finance and adaptation/mitigation needs Analysis of international public finance Analysis of climate finance and public policies

9. Key points /Challenges/lessonslearned (I) • National information tools are still limited. Access to data is expensive (time and money), even for the government. • It is important to further incorporate the information needs (identified gaps) in the existing information tools or systems. • In general, in Colombian context it is still difficult to specifically labeled an action as climate change since most of such projects are also environmental/social/productivity (overestimation?). • Clearer competencies are needed for the mobilization, monitoring, evaluation of resources directed at climate change at the subnational level. • Process of use and appropriation of the MRV platform is a key to guarantee the sustainability of the system and that the information is actually used as a tool for decision making at the different levels

10. Key points /Challenges/lessonslearned (II) • To sensitize related to climate finance must respond to particular needs, in a language familiar with public and private management standards of each country context. • It is needed greater emphasis on project formulators and on climate change criteria in territorial/sectorial public management in general. • Local networks can link multiple actors where the message of climate change mainstreaming has multiple allies

11. THANK YOU!