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Climate finance readiness project on cards

Energy minister Tsukutlane Au

Aug. 8, 2019 2 min read

MASERU - The Minister of Energy and Meteorology in partnership with the Development Bank of Southern Africa (DBSA) as well as the South South North (SSN) launched the Lesotho Climate Finance Readiness Project on August 1 2019.The project is aimed at facilitating support to establish appropriate institutional frameworks that will enable Lesotho to benefit from the available Green Climate Fund (GCF) direct access financing window.

Launching the project, the energy minister Tsukutlane Au said the effect of climate change were affecting countries worldwide, both rich and poor alike.In Lesotho, the effects have been devastating as several people lost lives and property due to extreme climate conditions. Mr Au said initiations like those which capacitated Lesotho to be able to design and implement programmes and projects that would enhance its resilience and reduce greenhouse gas emissions, were long overdue. He said there were a number of efforts Lesotho had been engaged in over the years in response to climate change challenges.

In recent years, he said Lesotho developed climate change strategy and policy frameworks which include the 2017 National Climate Change Policy (NCCP 2017) and the 2018 Nationally Determined Contributions (NDC).The documents, he said, outlined a number of actions to be implemented to combat and mitigate the effects of climate change.

“The policy specifically recognises the need to strengthen climate governance through the establishment of institutions working on climate change, enhancing coordination of all stakeholders, mobilisation of financial resources and increasing public awareness. “The readiness project will contribute towards achieving the objective of the policy, on the other hand, the NDC provides a list of initiatives Lesotho is committed to undertake with the availability of funds,” the minister also said.

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DBSA group executive transacting Zodwa Mbele said they had always been instrumental in assisting Lesotho to access the GCF for the readiness project. Ms Mbele said there were other institutions, GCF included, which made it possible for developing countries to access funding for global warming effects. In this case, she said, had been successful to access grants, making an assurance that it was the beginning of their work to see that National Designated Authority (NDA) was set up, and once set up it would be appropriately capacitated.

Among other project outcomes, the project coordinator Charles Ts’eole said the project would strengthen institutional capacity of government entities and other stakeholders by developing tools and policies, establishing procedures and building technical expertise, resulting in the development of a robust project pipeline that meet the GCF’s investment criteria and advance national climate priorities. Mr Ts’eole said the programme would not only facilitate partner countries to access the much needed GCF funding; but would also inform climate interventions that would increase climate resilience, reduce emissions and safeguard development goals.The Green Climate Fund is a new global fund under the United Nations Framework Convention on climate change, created to support the efforts of developing countries to respond to the challenges of climate change.

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