Green Climate Readiness Project Gets $140 Million

A sum of $140.1 million has been allocated in the 2020/21 Estimates of Expenditure to strengthen the capacity of Jamaica’s National Designated Authority (NDA) under the Green Climate Readiness Support Project.

Details are provided in the 2020/21 Estimates of Expenditure now before the House of Representatives.

The project, which started in October 2017, and is slated to end in March 2020, is being implemented by the Ministry of Economic Growth and Job Creation with funding from the Green Climate Fund (GCF).

It is aimed at developing a Gender Strategy and Action Plan, a National REDD+ (reducing emissions from deforestation and forest degradation) Strategy, and a gender-responsive approach to climate change adaption and mitigation.

Another target is to create an enabling environment for a Caribbean Green Bond Listing on the Jamaica Stock Exchange (JSE).

The funds allocated for the upcoming fiscal year will go towards the nomination of a private-sector entity for GCF accreditation; development of a Gender Assessment Report, and a Gender and Climate Change Strategy and Action Plan; development of a Green Bond Market Assessment and Road Map; establishment of a National Transparency Working Group; and completion of an institutional assessment report.

So far under the project, a Regional Scoping Study has been completed as well as an NDA toolkit, a regional action plan for the private sector, and a GCF Country Programme developed.

Additionally, regional training workshops were conducted with 11 representatives, a readiness proposal was drafted and a project development manual prepared.