REMA meets with representatives from GCF accredited entities and other development partners to discuss climate finance

The Rwanda Environment Management Authority (REMA), the Green Climate Fund (GCF) accredited entities and other development partners met today 16th June 2022 in a high-level structured dialogue to discuss, understand and assess the climate financial needs of Rwanda, as well as to understand how these financial resources can be effectively mobilized.

The dialogue was prepared by REMA – the National Designated Authority (NDA) for the GCF, one of the financial mechanisms of the UNFCCC – and brought together representatives from public and private institutions, local and international Non-Governmental Organizations as well as private sector with businesses involved in climate change, environment and biodiversity conservation.

During the dialogue, REMA together with the GCF accredited entities and other development partners shaded light on ways to engage with GCF as well as other climate funds. The funds help countries to become more resilient to climate change threats and give a chance for quality projects to access funding, hence achieving the Nationally Determined Contribution (NDC) targets and practicing country ownership.

“There is no doubt that addressing the impact of climate change is at high cost, and our country is vulnerable to the impact of climate change. In this respect, Climate finance is needed for mitigation, because large-scale investments are required to significantly reduce emissions. Climate finance is equally important for adaptation to the adverse effects of a changing climate, because our economy can only prosper if nature also prospers” said Faustin Munyazikwiye, Deputy Director General of REMA.

Munyazikwiye reminded that the Government of Rwanda has made it clear through its Nationally Determined Contributions submitted to the UNFCCC, stating that by 2030, Rwanda need USD 11 Billions, to be able to attain its targets that will help to reduce the greenhouse gas emissions by 38% in 2030 and support adaptation actions in key seven sectors (Agriculture, Water, Land and Forestry, Mining, Human Settlement, Health and Cross sectoral response).

The structured dialogue was an opportunity to highlight and discuss new solutions to the challenges facing our planet and community such as climate change risks and impacts.

In a journey to raise climate finance, “we call upon the government institutions, private sector and NGOs to contribute significantly. In this line, we encourage more the private engagement in climate actions implementation. Taking these steps will not only benefit the sector but as well as the community” Munyazikwiye added.

Participants reiterated that in order to respond to the above challenges, there is need for innovative policies, redirected investment, environmentally sound technologies, and capacity development to support countries to transition to inclusive green economies. This includes ways to invest in environment and biodiversity management, disaster risk management and coming up with adaptation and mitigation interventions to combat climate change.

More photos of the high level structured dialogue with GCF accredited entities and other development partners are accessible here

 

Whatsapp

Topics


More posts

Rwanda exceeds key targets in environment and climate action and commits to do more

Kigali, 05th October,2022 – Development Partners, Public and Private institutions met for the Environment and Climate Change Thematic Working Group…

Read more →

Business Leaders pledge to contribute to Rwanda’s ambitious targets in Environmental protection

Business leaders for major companies, NGOs and Banks operating in Rwanda have pledged to accelerate the achievement of Rwanda’s high ambitious target…

Read more →

DHWG and LDCF3 Projects stakeholders agree on activities to be carried out during the projects implementation

The Rwanda Environment Management Authority (REMA) and the United Nations Development Programme (UNDP) have on 27th September 2022 convened an…

Read more →

Representatives from 26 Nations meet to exchange views and priorities for a treaty to end plastic pollution

Ministers and representatives from 26 Nations from around the world met on September 22, 2022 in New York on the sidelines of United Nations General…

Read more →

REMA’s DG joins a Roundtable Meeting at UNGA to discuss Circular economy

The Director General of the Rwanda Environment Management Authority (REMA), Juliet Kabera, on 20th September 2022, joined a roundtable meeting in New…

Read more →

REMA concludes a five-day Biodiversity and Environment Exhibition

The Rwanda Environment Management Authority (REMA) through the Biodiversity Finance Initiative Project has on 16th September 2022 concluded a five-day…

Read more →

LDCF3 Project beneficiaries commit to actively participate in the Project implementation

The Rwanda Environment Management Authority (REMA) is conducting consultation meetings with stakeholders and beneficiaries of a new project which will…

Read more →

Press Release: Countries aim to end plastic pollution by 2040

Today the Governments of Rwanda and Norway launch The High Ambition Coalition to End Plastic Pollution together with Canada, Peru, Germany, Senegal,…

Read more →

REMA’s Board of Directors conclude a three-day field visit in REMA projects’ intervention zones

Members of the Rwanda Environment Management Authority (REMA) Board of Directors have today 19th August 2022 concluded a three-day field visit…

Read more →