PTI, MANAMA: A UN-backed fund has approved USD 43.4 million for enhancing climate resilience for millions of people living in India’s coastal communities in Andhra Pradesh, Maharashtra and Odisha as part of its efforts to combat extreme impacts of climate change.
The grant is a part of more than USD 1 billion approved by the Green Climate Fund for 19 new projects to help developing countries tackle climate change.
The new project will be supported through the United Nations Development Programme (UNDP), and is an essential step for India in reaching its goals outlined in the Paris Agreement and 2030 Agenda for Sustainable Development.
The 21st meeting of the Green Climate Fund (GCF) Board ended Sunday in Bahrain’s capital Manama, approving over one billion dollars of new projects and programmes to support climate action in developing countries, and formally launching its first replenishment, a statement from the fund said.
“India’s coastal areas are quite vulnerable to climate change and this project focuses on selected vulnerable areas of Andhra Pradesh, Maharashtra and Odisha states,” said Ravi S Prasad, Joint Secretary, Climate Change, Ministry of Environment, Forests and Climate Change, said.
The new project, with the GCF assistance, will not only help enhance resilience and adaptability, but also lead to emissions reduction while providing support to local communities for their livelihoods,” Prasad said.
The 19 new projects amount to a total investment from GCF of USD 1,038 million, and including co-financing the projects will channel over USD 4,244 million of climate finance for low-emission, climate-resilient development.
At the end of the four day meeting, the Board decided to launch the process for the Green Climate Fund’s first formal replenishment, marking a key moment in the development of the world’s largest dedicated fund for climate action.
Funding approved at the meeting in Manama includes projects linked to geothermal energy in Indonesia and greener cities in Europe and the Middle East.
Under the project, over 1.7 million people are expected to directly benefit from livelihoods support, with another 10 million indirectly benefitting from improved shoreline protection, the UNDP said in a statement.
In reaching the Sustainable Development Goals for gender equality and reduced inequalities, the project is focused on providing tangible benefits for women, female-headed households, young people and the elderly, and members of Scheduled Castes and Tribes.
