May 17, 2018
On May 17, the Japan International Cooperation Agency (JICA) signed an accreditation master agreement with the Green Climate Fund (GCF)* toward the formation and implementation of mitigation and adaptation projects that address climate change. The agreement was signed by Howard Bamsey, Executive Director of the GCF, and Shigeru Maeda, Senior Vice-President of JICA.
Last July, JICA became one of the first GCF-accredited entities in Japan. The accreditation master agreement stipulates the assignment of responsibilities and procedures to implement GCF climate finance projects.
In December 2015, the international community agreed to the goal of “holding the increase in the global average temperature to well below 2° C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5° C above pre-industrial levels” in the Paris Agreement, adopted at the 21st Conference of the Parties of the United Nations Framework Convention on Climate Change (COP 21). From a medium-term perspective, JICA provides support to developing countries in their efforts to transition to a low-carbon and climate-resilient society in accordance with the Paris Agreement.
As a result of signing the accreditation master agreement, JICA will be able to utilize GCF climate funds in addition to Japan’s national budget, further expanding the support to developing countries in the area of climate change.
* The GCF is a multilateral fund that is based on the United Nations Framework Convention on Climate Change. To date, 76 projects have been approved for a total of USD 3,730 million. The GCF was established in 2010 at COP 16 and designated as an operating entity at COP 17 in 2011.