The International Center for Climate Governance has recently announced its two winners for the 2016 Best Climate Practices Contest which focused on the theme ‘Expanding access to climate financing.’ Featuring 14 candidates from all over the world, the solutions were required “to raise and drive financial support toward local, small-scale mitigation and adaptation actions for the purpose of increasing inclusiveness and simplifying access to climate finance.”
Proposals were judged based on the public’s online voting results and the assessments of the International Expert Panel which consisted of Carlo Carraro (ICCG, GGKP and Ca’Foscari University of Venice), Zaheer Fakir (Green Climate Fund, GCF), Alejandro Kilpatrick (United Nations Framework Convention on Climate Change, UNFCCC) and Nick Robins (UNEP Inquiry). In an unusual event the jury saw fit to award first prize to two projects who will split the 3000 Euro prize between them. Their choice “was motivated by the will to award two active and operative entities implementing microfinance strategies that have proven their capacity to deliver concrete results in climate-vulnerable developing countries.” The two winners were officially announced on 28 November 2016.
The project Carbon Finance for Families in Mozambique was the first winner. Implemented in Mozambique’s capital city, Maputo, the project aims to enhance climate change mitigation “by distributing efficient cookstoves financed by the revenues from the generation of carbon credits.” Starting as a pilot project, it has successfully delivered over 5,000 cookstoves to Maputo households while the Nordic Environment Finance Cooperation (NEFCO) has committed to buying many of the carbon credits achieved by the project.
The second winner was the project Clean Energy Promotion through Microfinance in Ethiopia. Initiated in 2014, the project over the following 30 months, successfully established a business concept for three Ethiopian microfinance institutions (MFIs) “with a total outreach of more than 130,000 clients” of which more than 82,000 are women. Financed by the Nordic Climate Facility, the project helps enable the MFIs to enlarge their portfolio with financial products supplying clients with improved and clean energy solutions across the entire supply chain. To date, appropriate clean energy technologies (CET) and MFIs have been identified and selected, credit products have been designed and microloans have been offered by the MFIs.
Special mentions were also made of two other project proposals. The first of which is the Fair Climate Fund, which reaches out to more than 50,000 households in southern India and western Ethiopia, and whose objective is to generate carbon credits through local projects, directly managed by local communities. The second of which is the Matchmaker project which helps cities better present their city climate related mitigation projects to public and private investors. It aims to “cut down the amount of time investors spend building and maintaining their sourcing pipeline of investment ideas [thereby] shortening the time to investment for critical projects.”
The International Development Journal congratulates the two winners.