Latin American participants will have tools to ensure the financial sustainability of their climate initiatives

Since August 20th, more than 50 participants from implementing and co-implementing organisations of the projects in the of Forests, Biodiversity and Ecosystems (FBE) sector, which are financed by the European Union, through the EUROCLIMA+ programme, are strengthening their capacities through the course “Formulation of fundable projects in the area of Forests, Biodiversity and Ecosystems for the implementation of Nationally Determined Contributions in Latin America”.

This initiative has been developed by the German Society for International Cooperation (GIZ), through FBE's Technical Assistance, in conjunction with the INCAE Business School and it will provide participants with tools to develop and formulate projects that will enable them to access various sources to finance actions that contribute to achieving the climate goals established in their countries' Nationally Determined Contributions (NDC).

In order to access climate financing, it is important that applicants have a broad understanding of existing opportunities and barriers, as well as the skills needed to design and implement projects that reflect the multiple benefits provided by biodiversity and ecosystems. It is also considered crucial that participants explore innovative sources of climate financing that will allow them to diversify risks and achieve the financial sustainability of their climate initiatives.

Action learning and valuation of ecosystem services

The training course, delivered virtually in its first phase, follows the “action learning” methodology that allows participants to have general theoretical knowledge, while applying it in a practical way in the formulation and/or reformulation of project ideas for climate action in their organisations. Through constant feedback from the experts who are part of the course staff, as well as a result of experience exchanges with their fellow participants, it is expected that at the end of the course the participants will materialise their knowledge with the presentation of a proposal for a fundable project.

The first phase of the training course is carried out over 6 weeks, in spaced out virtual sessions. The second phase will take place at INCAE's campus in Costa Rica, in the first semester of 2021 (if the health situation allows). Among the topics that are part of the content are general aspects of financing and climate rationale, the valuation of natural capital and ecosystem services, the development of monitoring and evaluation systems, and the preparation of cost-benefit analyses in climate projects related to biodiversity and ecosystems.

About EUROCLIMA+

EUROCLIMA+ is a programme financed by the European Union and co-financed by the Federal Government of Germany through the Federal Ministry for Economic Cooperation and Development (BMZ), as well as by the governments of France and Spain. It aims to reduce the impact of climate change and its effects in 18 Latin American and Caribbean countries by promoting climate change mitigation and adaptation, resilience and investment. The Programme is implemented under the synergistic work of seven agencies: the Spanish Agency for International Development Cooperation (AECID), the French Development Agency (AFD), the Economic Commission for Latin America and the Caribbean (ECLAC), Expertise France (EF), the International and Ibero-American Foundation for Public Administration and Policy (FIIAPP), the German Society for International Cooperation (GIZ), and UN Environment.

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