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Driving rapid climate action: 10 new GCF-funded projects ready for delivery

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02 Aug, 2024

This post was originally published on UNDP

Driving rapid climate action: 10 new GCF-funded projects ready for delivery
kate.smith@undp.org
Thu, 08/01/2024 – 03:54

Ten new GCF-funded projects, including the UNDP-supported Coastal Resilience Project in Tonga, are on track for implementation, with two projects in Bhutan and Malawi setting record times for rapid delivery. Steps were accelerated by the Fund to get projects out-the-door as quickly as possible upon their approval by the GCF Board.

GCF signed Funded Activity Agreements (FAA) for 10 projects immediately after their approval at the 39th meeting of the GCF Board. 

The FAA is an agreement that contains conditions to be fulfilled by the GCF Accredited Entity (AE) and must be negotiated and signed by GCF and the AE before the project can launch. As this can be a lengthy process, GCF has been making efforts to speed this step up. This is part of GCF’s efficiency agenda that aims to swiftly deliver projects in developing countries through reforming the Fund’s funding processes.

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Publication Date
Mon, 07/29/2024 – 12:00

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Government consulting on sustainable investment labelling

Government consulting on sustainable investment labelling

The Australian Government is starting consultation on sustainable investment product labelling, which is designed to give investors more confidence to put more capital to work in sustainable products.

The federal government said the release of this paper is a key step in implementing its Sustainable Finance Roadmap — designed to help mobilise the capital required for Australia to become a renewable energy superpower, modernising the financial markets and maximising the economic opportunities from net zero.

This consultation paper seeks views from investors, companies and the broader community on a framework for sustainable investment product labels.

These labels are designed to help investors and consumers identify, compare and make informed decisions about sustainable investment products to understand what ‘sustainable’, ‘green’ or similar words mean when they’re applied to financial products.

The government said a more robust and clear product-labelling framework will help investors and consumers invest in sustainable products with confidence and help tackle greenwashing.

This phase of consultation will run from 18 July to 29 August and help the government refine its design principles for the framework.

The consultation paper is available on the Treasury consultation hub.

Image credit: iStock.com/wenich-mit

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IN A NUTSHELL 🔧 Idaho National Laboratory partners with Amazon Web Services to develop AI-powered digital twins for nuclear reactors. 💡 The collaboration aims to modernize the U.S. nuclear sector, making reactors autonomous and efficient. 🌐 The initiative is part of a national push to integrate artificial intelligence into energy infrastructure. 🔍 Focus on safety, […]
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