During its participation in the GCF Global Programing Conference, Profonanpe, the Peruvian environmental fund, sealed its reaccreditation with the Green Climate Fund (GCF) by signing the Accreditation Master Agreement (AMA), which guarantees Profonanpe’s commitment to identify, plan and execute projects with a positive impact on the environment and the communities involved, in addition to reducing the vulnerability of communities and increasing the resilience of ecosystems.
The AMA is the legal framework that establishes the terms and conditions during the accreditation process, and defines the bases and responsibilities that the accredited entity must comply with during the entire GCF project cycle. Claudia Godfrey, Director of Innovation and Strategic Management at Profonanpe, explains: “The signing of the AMA is one of the most important international recognitions. For Peru, Profonanpe’s accreditation represents an important alternative for channeling funds for the measures prioritized in terms of climate change adaptation and mitigation within the framework of compliance with the goals of the Nationally Determined Contributions (NDCs).”
This is the second time Profonanpe has signed the AMA. The first accreditation took place in October 2016, which allowed the development and implementation of different initiatives over the last 5 years, including the Datem Wetlands project, the first in Peru to be implemented with financing from the fund. In March of this year, Profonanpe’s reaccreditation was approved and became effective with the signing of the AMA at the Global Programming Conference organized by the GCF in Korea.
“Achieving reaccreditation has been a work of almost a year, in which we have gathered information and shown the evidence that allows the GCF to ensure that we meet all the requirements to be an accredited entity,” highlighted Juana Kuramoto, Head of Profonanpe’s Research and Development Office.
The standards required by the GCF also enabled Profonanpe to strengthen its Environmental and Social Management System (ESMS), a set of documents that establish guidelines and tools for all the projects in which it participates. This guarantees the operability of the environmental, social and economic components, as well as the responsibility that Profonanpe assumes in managing the financing for current and future projects.
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 assist developing countries in climate change adaptation and mitigation practices. Profonanpe is one of 79 entities globally, and the only one in Peru, that can access these funds.
