In a renewed commitment to ambitious climate action, the United Kingdom, Germany and the Children’s Investment Fund Foundation (CIFF) – the newest Donor supporting the Ambition Initiative Call of the NAMA Facility, allocated up to EUR 177 million for NAMA Support Projects (NSPs). The NAMA Facility’s Ambition Initiative Call received 41 Support Project Outline submissions. All Outlines were assessed through a desktop and some through an in-depth assessment. The latter involves a rigorous fact-finding mission conducted by the Technical Support Unit officers with various stakeholders that will be engaged throughout the development process.
The NAMA Facility is pleased to announce the following Ambition Initiative Support Projects entering the Detailed Preparation Phase:
Upon entering the Detailed Preparation Phase, Support Projects receive funding and access to expertise to further elaborate their submitted Outline into a robust Proposal within 10 or 15 months. Activities under this phase include conducting the required baseline and feasibility studies for establishing the financial mechanism, verifying the mitigation potential, and conducting other activities that might be necessary to produce a robust Proposal and make the project ready for implementation. Upon the conclusion of the DPP, the Proposals will undergo a detailed assessment and based on its results and available funding, the NAMA Facility Board will make a final decision on Support Projects entering the Implementation Phase.
The selected projects and highlights from the Ambition Initiative as well as a launch of a second round of funding under the Ambition Initiative were announced at the NAMA Facility’s COP26 side event in Glasgow.
With a total funding volume of EUR 667 million, 8 Calls conducted and 43 Support Projects selected, the NAMA Facility supports ambitious climate mitigation action in developing countries and emerging economies around the world by providing funding for the development of Nationally Appropriate Mitigation Actions, or NAMAs. Within the context of the Paris Agreement, these NAMAs act as building blocks for Nationally Determined Contributions (NDCs) implementation, as countries strive to meet their climate mitigation targets. The NAMA Facility’s Donors seek to support countries taking ambitious action in pursuit of these aims.
Watch the live stream (note: this is a Facebook link) of the side event on 9 November.
Learn more about the Ambition Initiative – Round Two.