The proposed Readiness aims to strengthen the capacity of the government to meet its AFOLU mitigation and adaptation targets by enabling its country’s largest provider of finance to the AFOLU sector to access GCF’s long-term affordable climate finance, allowing the country to raise its NDC ambitions.
More precisely, the proposed Readiness Programme supports the achievement of the following strategic targets:
- Nationally Determined Contribution (NDC): Colombia commits to reduce its GHG emissions by 51% by 2030 compared to business-as-usual scenario.
- National Development Plan (NDP) 2018-2022: Colombia commits to reducing deforestation rates by 30% by 2022 compared to BAU and enhancing GHG sink by expanding agroforestry, sustainable management of natural forests, silvopastoral systems, and other forms of productive land restoration by over 700,000 hectares.
- Strategy for the Control of Deforestation and Management of Forests (Estrategia Integral de Control a la Deforestación y Gestión de los Bosques, EICD-GB): Colombia commits to achieving zero-net deforestation by 2030 leading to 32.4 Mton of GHG avoided emissions.
- Green Growth Policy (CONPES 3934): Colombia commits to increasing the contribution of the forest economy to the country’s GDP from 0.8% in 2017 to 1.5% in 2030.
- Second National Communication (SNC) to the UNFCCC identifies (i) terrestrial ecosystems, (ii) farming/agriculture and (iii) forestry among the sectors most vulnerable to climate change.
- National Forest Development Plan (Plan Nacional de Desarrollo Forestal 2000-2025) which calls for an increased contribution of the forestry sector to the country’s economy.
The outcomes are the following:
- Direct access applicants and accredited entities (DAEs) have established capacity to meet and maintain the GCF’s accreditation standards; and accredited DAEs have the capacity to develop a pipeline of projects and effectively implement GCF-funded activities.
- GCF recipient countries have developed or enhanced strategic frameworks to address policy gaps, improve sectoral expertise, and enhance enabling environments for GCF programming in low-emission investment.
- An increase in the number of quality project concept notes developed and submitted.