Bangkok, Thailand, November 1, 2023 – The Global Green Growth Institute (GGGI) in Thailand in partnership with the Department of Climate Change and Environment (CCE), GIZ Thailand, and the Creagy hosted a public hearing event on Mechanisms to Promote Access to Financial Support from the Green Climate Fund, in Bangkok, Thailand. The event is one of the key milestones under a GCF readiness project implemented by GGGI.
The primary objective of the event was to present and discuss key mechanisms to enhance Thailand’s access to financial support from the Green Climate Fund (GCF). Participants engaged in constructive dialogue about various agenda-oriented mechanisms, including Readiness Preparation, the Climate Finance Strategy (CFS), Thailand Country Program 2 (TCP 2) for 2023, Thailand’s Readiness Needs Assessment, and the No-Objection Procedure (NO
P). The core components of this discussion revolved around CFS, TCP, and NOP.
Mr. Tero Tapio Raassina, GGGI Country Representative for Thailand, preluded marking the major role of finance in climate actions “Thailand has a pressing need for climate finance, and in particular, blended climate finance instruments.”
The Deputy Director of CCE, Mr. Pawit Gesawawong, further highlighted the foreground of the event “GCF is the world’s biggest fund in the realm of climate change actions. It is thus vital that we gather today to have full partner consultations on how we improve access to the GCF Fund and how we can use it to properly foster the country’s priorities, NDCs, and other national policies.”
At the heart of this event was the presentation of the mechanisms. Essentially, the TCP outlined five priority areas for the country’s projects and programs. These areas included mitigation measures, technologies, and systematic planning in the energy, industrial processes, and transport sectors (Priority Area 1); knowledge and database enhancement in the agricultural and waste sectors (Priority Area 2); advanced adaptive technologies (Priority Area 3); strengthening climate finance mechanisms (Priority Area 4); and knowledge sharing and awareness raising (Priority Area 5).
Ms. Nareerat Panmanee, Director of the Strategy and International Cooperation Division at CCE, conveyed GCF’s current call and summarized “Notably, the GCF is encouraging National Designated Authorities (NDAs) and relevant entities to explore cross-cutting projects, fostering synergies between adaptation and mitigation efforts. The event serves as a platform for various entities to understand how they can align their specific needs and sectoral goals with the mechanisms presented, emphasizing the adaptability of the mechanisms.” She assured participants that the hosts would incorporate feedback from the event into the process to ensure that the mechanisms best serve the unique requirements of different organizations and sectors.
Looking ahead, the event marks a significant step in enhancing Thailand’s access to financial support from the GCF. The dialogue and collaboration between various stakeholders will continue as part of the ongoing effort to increase the chances of diverse types of projects gaining GCF approval. The CCE and GGGI encouraged all relevant entities to actively contribute to the process by sharing details a
bout the types of projects they have, ongoing projects, or project pipelines. It is crucial that these activities or projects align with the country’s strategies, emphasizing the need for careful consideration and collaboration in the coming stages.
“To this end, today, GGGI charts a path for Thailand’s greener future with a crucial Climate Finance Strategy, aligning national efforts with global commitments for impactful environmental action. The significance lies not just in securing over USD 200 billion needed by 2030 but in steering these funds to where they’ll make a real difference for our climate and communities. This strategy sets a precedent for targeted, effective climate initiatives, shaping a sustainable tomorrow. Now, we step forward into a future of sector-specific strategies, collaboration, and innovation for a resilient Thailand,” Mr. Tero Tapio Raassina said.
About GCF: The Green Climate Fund (GCF) is a fund established within the framework of the United Nations Framework Convention on Climate Change (UNCCC) as an operating entity of the Financial Mechanism to assist developing countries in adaptation and mitigation practices to counter climate change.
About GIZ: GIZ is the main German development agency. It is headquartered in Bonn and Eschborn and provides services in the field of international development cooperation and international education work.
About Creagy: Creagy is a purpose-driven consultancy dedicated to delivering innovative climate solutions and become a catalyst for change in the fight against climate change in South-East Asia.
