Project

CO12 Accelerating development of new bioeconomy businesses and enhanced capacities for green jobs promotion and increased climate action ambition from policy implementation and integration

At a Glance

Strategic Outcomes SO1 Reduced GHG emission, SO2 Creation of green jobs
Start Date Q1  24 February 2021
End Date q1 23 February 2022
Funding Source Earmarked
Actual Budget (USD) 569
Budget Percentage 0%
Actual Expenditure (USD) 0
Status Active
GGGI Share (USD) N/A
Poverty and Gender Policy Markers
Name of Client (Lead/Prime implementer if GGGI is part of a consortium) National Planning Department; Ministry of Science and Technology (MinCiencias); National Learning Service (SENA)
Participating Organization (Funding/donor) United Kingdom: Department of Business, Energy and Industrial Strategy (BEIS)
Name of consortium members, if any N/A
Thematic Area
  • Cross Cutting
  • Climate Resilient and Green Growth
GGGI Project Code : CO12
Project Manager and Staff +
Cristian Rivera

Program Officer, Colombia

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Private: Ferruccio Santetti

Green Investment Specialist (4/6)

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Background

Since 2019, GGGI in Colombia has been partnering with the United Kingdom led initiative UK PACT (Partnering for Accelerated Climate Transitions), a £60m flagship programme under the International Climate Finance (ICF) portfolio. The first UK PACT supported project in Colombia completed in 2020 was titled Scaling up Green Growth Policy Implementation and Investments via Capacity Building, achieving excellent home runs such as the Green Growth Training Modules, a free and virtual green growth course for Colombian government officials and the wider public, the National Bioeconomy Strategy, and the design, structuring of 4 renewable energy projects, mobilizing a cumulative investment commitment of USD 78.1 million.

The project builds on the work done in the first phase of Colombia’s UK PACT project and aims to provide practical tools for the implementation of Colombia´s Green Growth policy and green post-COVID19 economic reactivation, through i) strengthening bioeconomy businesses to achieve commercial stage and financing, ii) the generation of capacities for green jobs, and iii) enhancing institutional capacities for the integration of goals and objectives of Colombia’s key green growth and climate change agendas, into development planning at the national and subnational level. The project focuses on enhancing the capacity of MinCiencias to implement a Bioeconomy business accelerator to promote advanced-stage businesses to commercial stage and investment mobilization. Complimentarily, a knowledge sharing component will disseminate case studies, lessons learned, best practices and recommendations, through the Competitiveness and Innovation system of Colombia and on MinCiencias and GGGI’s online platforms. The project will also design three new technical training courses to be integrated into the National Learning Service’s curriculum offerings, which will aid the country’s labor force to pursue technical careers in key green growth sectors.

Outcomes

  1. A bioeconomy business accelerator mechanism at MinCiencias that provides technical support for bioeconomy-businesses´ promotion until commercial stage is operational.
  2. Increased supply of technical professional training courses delivered by SENA to increase green labor competencies in fields of energy efficiency, bioeconomy and reforestation.
  3. Increased capacities within DNP to provide significant inputs for the Basis of the upcoming National Development Plan 2022-2026, and guidelines to municipalities and departments regarding GGP, green recovery, and the 2030 agenda implementation.

Impact

Implementation of Colombia’s Green Growth Policy targets leads to increased green jobs, the reduction of GHG emissions and the achievement of NDC commitments.