The board of directors of the Green Climate Fund (GCF) approved the financing proposal of Profonanpe, Peruvian environmental fund, which will strengthen technical and institutional capacities to design, implement and monitor, through the incubation and acceleration of eco- and bio-businesses in the Peruvian Amazon, specifically in Amazonas, San Martín, Cusco, Puno, Loreto and Madre de Dios.
The Amazon Eco Bio Business Facility (EBBF) will provide effective climate change mitigation results by investing in eco-bio businesses (EBBs) that sustainably manage and conserve our Peruvian forests. The EBBF will be established as a fund that will be capitalized with resources from the GCF and Profonanpe.
The EBBF will be implemented within Peru’s national REDD+ framework and will expand the Forest Cover Monitoring Module to include secondary forest degradation data. It will also support the advancement of the development of the Forest Reference Emissions Level / Forest Reference Level (FREL/FRL) for REDD+ activities in conservation and sustainable forest management. In addition, it will strengthen technical and institutional capacities to ensure the environmental and social integrity and sustainability of Bio-Businesses with REDD+ safeguards.
This project expects to promote 55 bio-businesses in the regions where the project will be implemented.
“For Peru, achieving the approval of the EBBF, among so many globally accredited organizations, means a great opportunity to promote and develop undertakings linked to sustainable forest management, allowing the articulation between different sectors, strengthening the capacities of populations to reduce their vulnerability and increase resilience to the effects of climate change”, said Claudia Godfrey, Director of Innovation and Strategic Management of Profonanpe.
After receiving the approval of the first project at a global level from this Fund in 2015, Profonanpe once again has access to this type of financing, highlighting the high technical and fiduciary level to capture and channel funds in favor of the Peruvian environmental agenda. This new project is also an achievement of our strategic allies the Global Green Growth Institute, NESsT and the Ministry of the Environment.
“EBBF will allow us to move forward in our role as an Environmental Fund, that is, to mobilize the capacities of the environmental ecosystem in favor of the conservation and rational use of natural resources. It will also strengthen the interventions that we have been encouraging in programs such as Emprendedores por Naturaleza (Entrepreneurs for Nature), enterprises linked to the effective management of our natural areas and the bio-businesses that we promote with various projects, as is the case of the Datem Wetlands Project”, stated Anton Willems, CEO of Profonanpe.
The standards required by the GCF guarantee the operability of the environmental, social and economic components, as well as the responsibility that Profonanpe assumes in administering this financing.
Fact: Bio-businesses are those businesses based on the sustainable use of biodiversity, taking into account environmental, social and economic sustainability criteria.
Technical data sheet:
Total Amount: USD 10,000,000
GCF Contribution: USD 8,972,400
MINAM: USD 27,600.00
Profonanpe: USD 1,000,000.00
About the Green Climate Fund
The Green Climate Fund (GCF) is the financial mechanism created under the United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries finance climate change adaptation and mitigation practices. Profonanpe is one of 113 entities globally, and the only one with direct access in Peru, that can obtain these funds.
