DFCD receives €40m top-up for climate adaptation projects in vulnerable countries
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Tropical storms, floods, extreme drought and forest fires – across Africa, Asia and South America, the effects of climate change are an increasingly visible reality. Adapting to its effects is essential, but also requires action: collaboration from multiple stakeholders - global, local, public and private – as well as a steep rise in the mobilization of finance. In fact, an estimated $700 billion more a year is necessary to reverse nature loss by 2030.
The news of additional funding for the Dutch Fund for Climate and development from the Dutch Ministry of Foreign Affairs is therefore extremely welcome, as it will allow the DFCD to increase the quality and quantity of climate-focused projects it supports in vulnerable countries.
WWF Director General Dr Kirsten Schuijt shared the news at the High-Level Event for Nature and People: From Ambition to Action, which sidelined the 78th session of the UN General Assembly in New York. Dr Schuijt highlighted the potential of the DFCD to help fill the financing gap facing global climate and biodiversity goals.
WWF Director General Dr Kirsten Schuijt and SNV CEO Simon O'Connell during the launch event at New York Climate Week.
© Getty images for WWF International
Climate Adaptation, Biodiversity, and Gender Equality and Social Inclusion form the basis of a new package of focus areas for the fund’s Origination Facility, which is managed equally between WWF-NL and SNV, a global development partner.
Supporting businesses across the Forestry, Agroforestry, Sustainable Land Use, Food Production, and Water and Sanitation Hygiene sectors, the Origination Facility works to de-risk and develop its portfolio into bankable investment opportunities for the DFCD Investment Facilities, run by the FMO (Dutch Entrepreneurial Development Bank) and CFM (Climate Fund Managers), as well as potential third-party investment.
Jaap de Jong, DFCD Project Manager at WWF-NL, has said that "WWF is extremely honoured to be given the opportunity to continue supporting businesses with Bankable Nature Solutions and, in doing so, contribute to bridging the financing gap for biodiversity and climate adaptation".