During its participation in the GCF Global Programming Conference, Profonanpe, Peru's private environmental fund, sealed its reaccreditation with the Green Climate Fund (GCF) By signing the Accreditation Framework 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 Accreditation Agreement (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 fulfill throughout the GCF project cycle. Claudia Godfrey, Director of Innovation and Strategic Management at Profonanpe, explains: “Signing the AMA is one of the most important international recognitions. For Peru, Profonanpe's accreditation represents a significant alternative for channeling funds for priority measures related to climate change adaptation and mitigation, within the framework of meeting the goals of the Nationally Determined Contributions.”.
This is the second time Profonanpe has signed the AMA. The first accreditation took place in October 2016, which allowed for the development and implementation of various initiatives over the past five years, including the project Datem Wetlands, It is the first project in Peru to be implemented with funding from the fund. In March of this year, Profonanpe's reaccreditation was approved and made effective with the signing of the AMA at the Global Programming Conference organized by the GCF in Korea.
“Achieving reaccreditation has been a nearly year-long process, during which we have gathered information and presented evidence that allows the GCF to ensure that we meet all the requirements to be an accredited entity,” highlighted Juana Kuramoto, Head of the Research and Development Office at Profonanpe.
The standards required by the GCF also allowed Profonanpe to enhance its Environmental and Social Management System (ESMS), This set of documents establishes guidelines and tools for all projects in which it participates. It ensures operational effectiveness in the environmental, social, and economic components, as well as the responsibility Profonanpe assumes in managing 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 help developing countries adapt to climate change and mitigate its effects. Profonanpe is one of 79 entities globally, and the only one in Peru, that can access these funds.
