Climate Change

1. Japan International Cooperation Agency (JICA) and Bank of Tokyo-Mitsubishi UFJ (MUFJ) are approved as accredited entities for Green Climate Fund (GCF) at the 17th GCF Board meeting on July 5-6 in the Republic of Korea.
2. JICA and MUFJ could access GCF grants in order to implement projects to address climate change in developing countries. Through the activities by these two entities, Japan’s public and private support through GCF resources will be expected to further increase.
3. Climate Change requires concerted effort of the international community and Japan will steadily implement the Paris Agreement. The importance of funding for climate change is mentioned in the Paris Agreement, and Japan will support the activities of GCF. Japan welcomes GCF’s decision to approve JICA and MUFJ as accredited entities and will continually work closely with GCF.

(Reference)

• Green Climate Fund (GCF) is a new global fund for supporting reduction of greenhouse gases (mitigation) and addressing climate change (adaption) in developing　countries. It was set up by 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, as part of the Convention’s financial mechanism. At the G20 summit held in November 2014, Prime Minister Abe announced the contribution of 1.5 billion US dollars to GCF.　Japan actively contributes to the management of GCF in the Board, the decision-making body of GCF, where Japan has two seats of Board meeting.
• Japan has been promoting the effective use of GCF for Small Island Developing States (SIDS) especially in the Oceania region. For example, Japan held the Green Climate Fund (GCF) Readiness Support Workshop for SIDS in 2015. Japan also strongly supports the approval of GCF assistance programs that benefits SIDs.
• Accredited entities are national and sub-national institutions, and international, regional and private organizations which can access to GCF’s fund. Any institution/organization in public and private sectors can apply accredited entities. They are categorized on the basis of the entities as follows: Direct Access Entity (national and sub-national institutions, and regional organizations) and International Access Entity (international, regional and private organizations).
• All entities are required to follow code of conducts such as fiduciary standards, environmental and social standards, and gender policy of GCF and need approval by the GCF Board in order to obtain accreditation.