15 November 2017, Bonn, Germany: The Carbon Trust will partner with Malaysia’s Ministry of Natural Resources and Environment (NRE) to deliver the country’s first Green Climate Fund (GCF) Readiness project. The project, which was announced today at the UN Climate Change negotiations in Bonn, will see the Carbon Trust supporting NRE, Malaysia’s Nationally Designated Authority (NDA), and other key stakeholders to enhance the country’s position to access GCF funding. The readiness proposal will enable Malaysia to prioritise its actions in the energy sector, which makes up to 80% of the greenhouse gas emissions thus achieving our NDC.
The GCF is the world’s largest fund dedicated to the fight against climate change, with US$10.3 billion currently pledged, and the Readiness and Preparatory Support Programme provides grants and technical assistance to strengthen developing countries’ capacities to access this funding.
Pa Ousman Jarju, Director of GCF’s country programming division, said:
“The approval of this Readiness Project represents a big step forward in enabling Malaysia to access GCF funding to support its mitigation and adaptation objectives.”
Malaysia’s first GCF Readiness Project includes work in three distinct areas: prioritization of potential energy sector mitigation programmes, support to a Malaysian organisation to become a direct access entity, and the development of a concept note for a Malaysian Green Cities Fund. These activities will commence in late 2017 and will have a strong focus on stakeholder engagement to ensure participation of all key actors in the relevant sectors.
Dato’ Sr Dr Azimuddin Bahari, Deputy Secretary General, NRE said:
“Malaysia looks forward to work with the Carbon Trust due to its global reputation for providing strategic advice on low-carbon transitions. Their responsive, innovative and inclusive approach is closely aligned with our ambitions and we look forward to working with their team.”
Tom Delay, Chief Executive, The Carbon Trust added:
“We are excited to have been selected as the Delivery Partner for Malaysia’s first GCF Readiness Project. The effective transition to low carbon in emerging economies’ will form the backbone of global efforts to mitigate the damaging impacts of climate change. Building skills and expertise is an important step to enhancing countries’ ability to the access the crucial climate finance that will help take low carbon projects forward.”
The Carbon Trust is a not-for-dividend group with more than 16 years of experience providing strategic advice on low-carbon transitions. The organisation is already supporting countries to design Nationally Appropriate Mitigation Actions (NAMAs) and has provided assistance in the preparation of Nationally Determined Contributions (NDCs). The Carbon Trust has worked in Malaysia since 2013 with a wide range of partners to accelerate the country’s low-carbon transition.