02.07.2020

NAMA Facility announces most significant donor call

Graphic Globe

Founded in 2012, the NAMA Facility has provided over EUR 520 million for climate change mitigation projects through its donors. Photo: NAMA Facility

Despite the postponement of COP26 and the many challenges posed by the COVID-19 pandemic, 2020 is a pivotal year for the international climate change mitigation efforts, especially for climate financing. Germany has initiated sustainable economic recovery measures and is using climate financing to support its partners of the global South in a climate-friendly response to the crisis.

In addition to International Climate Initiative (IKI), the NAMA Facility co-financed by the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) is an effective instrument for this purpose. During the London Climate Action Week, the Federal Environment Minister Svenja Schulze and the British Minister of State Kwasi Kwarteng (Department for Business, Energy & Industrial Strategy, BEIS) today announced the most comprehensive call of the NAMA Facility to date: Ambition Initiative – Supporting Ambitious NDCs for a Green Recovery.

NAMA Facility Ambition Initiative – Supporting Ambitious NDCs for a Green Recovery

This joint initiative of BEIS and BMU is designed to support those countries that present very ambitious Nationally Determined Contributions (NDC) with a clear reduction path. The Ambition Initiative aims to help these countries with specific projects to implement their NDCs and to link them to a climate-friendly economic recovery after the Corona crisis. The new call underlines the importance of ambitious NDCs for the achievement of the goals of the Paris Agreement, especially in times of COVID-19. BEIS and BMU are ready to support their partner countries in implementing these NDCs.

"I am very pleased to announce, together with our UK partners, our joint new Ambition Initiative under the NAMA Facility: Countries that present an ambitious NDC with a clear reduction path this year will be supported in implementing it. The aim is to enable them to combine an economic relaunch with climate cahnge mitigation," said Federal Environment Minister Svenja Schulze at the London Climate Action Week (See the full speech in the streaming event "Scaling up climate action: country strategies and emergent investment opportunities for a green recovery" of the Climate Policy Initiative).

The Ambition Initiative also invites other partners and potential additional donors to engage in ambitious NDCs as a joint incentive. Detailed information on the call will be announced shortly.

Founded in 2012, the NAMA Facility has provided over EUR 520 million for climate change mitigation projects through its donors - the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU), the British Department for Business, Energy and Industrial Strategy (BEIS); the European Union and the Danish Ministry for Climate, Energy and Utilities (KEFM).