Adaptation Fund accreditation for NTNC at COP29

25 Nov, 2024

November 19, 2024 marked a significant milestone for Nepal’s climate action as the National Trust for Nature Conservation (NTNC) achieved accreditation as the National Implementing Entity (NIE) of the Adaptation Fund (AF). This accreditation unlocks new opportunities for Nepal to access international climate finance and implement adaptation projects that address the country’s growing climate challenges.

"Securing this accreditation is a key milestone for Nepal in accessing global climate finance and advancing adaptation efforts on the ground. We deeply appreciate the Ministry of Forests and Environment, as the designated authority of the Adaptation Fund, for their invaluable support and collaboration in driving this collective vision for a climate-resilient Nepal."
— Dr. Naresh Subedi, Member Secretary, NTNC

The Adaptation Fund was established to support developing countries, particularly those vulnerable to the impacts of climate change, by financing concrete adaptation projects and programs. These countries, which are parties to the Kyoto Protocol, benefit from initiatives tailored to their specific needs and priorities. Since its inception in 2010, the Adaptation Fund has committed over USD 1.2 billion to more than 176 localized projects, aimed at building climate resilience in some of the most vulnerable communities worldwide. These initiatives have reached over 45 million beneficiaries, helping them adapt to the immediate and long-term impacts of climate change. A key feature of the Adaptation Fund is its pioneering Direct Access mechanism, which empowers countries to directly access funding and develop projects through accredited national implementing entities. This innovative approach fosters greater ownership and ensures that adaptation efforts are locally driven and tailored to the unique challenges faced by each country.

The accreditation exchange took place at COP29 in Baku, Azerbaijan, between Mikko Ollikainen, Head of the Adaptation Fund, and Dr. Manish Raj Pandey, Head of the Department of Climate Change and Climate Finance Focal Point at NTNC. With this achievement, NTNC joins 34 NIEs globally that are entrusted to identify, design, and execute adaptation and resilience projects at the community level.

Nepal is now eligible towards accessing up to USD 20 million for impactful adaptation projects or programs, with a maximum of USD 10 million available per project through its NIEs. Additionally, the country can work towards accessing funding beyond the national ceiling, including multiple funding windows, such as up to USD 5 million for each locally-led adaptation project and large innovation grants.

NTNC’s other engagements at COP29:

Adaptation Fund dialogue: Sharing insights and lessons learned from NTNC’s accreditation process.
Panelist role: Contributing to a discussion co-hosted by the Adaptation Fund, Green Climate Fund (GCF), and the Community of Practice of Direct Access Entities (CPDAE) on collaboration among Accredited Entities for effective, country-driven climate action.
Joint event address: Speaking at a UN Global Compact Networks event on “Empowering Change: Accelerating the Energy Transition for Resilient Futures.”
Bilateral discussions: Engaging with representatives from the Adaptation Fund and GCF to explore opportunities for strengthening climate finance partnerships.

With this achievement, NTNC is now accredited with two prominent climate finance instruments under the United Nations Framework Convention on Climate Change (UNFCCC)—the Green Climate Fund and the Adaptation Fund—enabling more effective access to global climate finance resources and supporting climate adaptation and resilience efforts across Nepal.

[Cover photo]: Mr. Mikko Ollikainen, Head of the Adaptation Fund, and Dr. Manish Raj Pandey, Head of the Department of Climate Change at NTNC, during the accreditation conferring at COP29, in Baku, Azerbaijan.