Good news. After a year of hard work and waiting, Profonanpe, Peru's private environmental fund, has obtained reaccreditation from the Green Climate Fund (GCF), a major global organization that channels financial resources for the implementation of climate action projects.
This recognition grants Profonanpe direct access to GCF funds to channel and execute projects related to Climate change adaptation and mitigation. Thus, the institution becomes one of 79 entities globally, and the only one in Peru, that can access these funds.
“The overall process took just over a year, and the GCF’s decision took around eight months. In our case, the evaluation demonstrates that we rigorously meet the standards required by the GCF,” commented Juana Kuramoto, Head of Research and Development at Profonanpe and leader of the team in charge of the reaccreditation.
Juana Kuramoto led the team in charge of the reaccreditation process of Profonanpe before the Green Climate Fund.
As you may recall, the institution received its first accreditation from the GCF in 2016. Two years later, it was reaccredited, allowing it to expand its activities and projects for use of the fund, as well as grant subsidies to third parties. The reaccreditation received in March 2022 allows it to continue working with the GCF for an additional five years, during which it can apply for funding for new projects that combat climate change and contribute to the implementation of the environmental agenda in Peru.
“The guarantee of being an accredited entity also opens new opportunities for us with other funds, since it positions us as an entity that meets high standards,” Kuramoto remarked.
The GCF reaccreditation renews Profonanpe's commitment as an institution specializing in creating, developing and implementing innovative processes in technical, administrative and fund management, and in coordinating with public and private actors working to conserve biodiversity and mitigate and adapt to climate change in Peru.
About the Green Climate Fund
GCF, for its acronym in English, is a global fund that supports the efforts of developing countries to respond to the challenges of climate change, in terms of reducing greenhouse gas emissions and/or adapting to climate change.
