GCF Grants USD 43 Million to India to Boost Climate Resilience

India, on the back of receiving a USD 43 Million grant from the Green Climate Fund (GCF) started a project to boost climate resilience in the three coastal states of Andhra Pradesh, Maharashtra and Odisha. The project is started in partnership with the United Nations Development Programme (UNDP).

The new project is primarily aiming at:

  • Building climate-resilient livelihood for almost 1.7 million people in the three coastal states.
  • Offset 3.5 million tonnes of carbon.
  • Protect vulnerable ecosystems
  • Improved shoreline protection to benefit almost 10 million people.

Highlights of the Project:

  • India’s coastal areas have proven to be very vulnerable to climate change, evident from extreme weather phenomenon in the last years. There has been a surge in floods and cyclones. This pace-setting new initiative holds the objective to enhance resilience and adaptability, lead to emissions reductions and support sustainable livelihoods.
  • In addition to the grant by GCF, the Central Government will finance an additional USD 86.8 million towards the new project to mainstream and accelerate the impacts of the GCF fund. The project will work with communities in restoring ecosystems and promoting climate-resilient livelihood options, such as the sustainable farming of mud crabs.
  • This initiative will particularly address India’s strategic plan to achieve its nationally determined contributions under the Paris Agreement, which focuses on adaptation efforts in vulnerable communities. As per the UNDP, the project will also build local knowledge of climate change and the associated risks via training and public education programmes.
  • A directive mentioned in the ‘2030 Agenda’ outlines “to protect life on land and below water”. In lieu of this, the project will focus on the restoration and conservation of large hectares of mangroves, coral reefs, seagrasses and salt marshes. Local youths of the adjoining communities will be trained to work with scientists and experts in monitoring ecosystem health and coastal ecology. The project will also create an online decision-support tool available via mobile phones for use by government officers, academic institutions, community members and scientists.

 What is Green Climate Fund (GCF)?

  • The Green Climate Fund is a fund established within the framework of the UNFCCC as an operating entity of the Financial Mechanism to assist developing countries in adaptation and mitigation practices to counter climate change.
  • The GCF is based in Incheon, South Korea.
  • The Fund is a unique global platform to respond to climate change by investing in low-emission and climate-resilient development. GCF was established to limit or reduce greenhouse gas (GHG) emissions in developing countries, and to help vulnerable societies adapt to the unavoidable impacts of climate change.

SOURCE: India Today, GCF.org, The Hindu



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