Decarbonisation and Climate Resilience in the Eastern Partnership (EU4ClimateResilience)
Project Description
The Action also supports local climate adaptation projects, boosting the resilience of cities and municipalities. To mobilize sustainable investments, the Action supports the issuance of green bonds. In Ukraine, the Action addresses reconstruction needs from Russia’s war of aggression.
The Action is co-financed by the European Union and the Federal Ministry for the Environment, Nuclear Safety, and Consumer Protection (BMUV), and is implemented by GIZ and OECD. The Action and the BMUV-funded project 'Promoting Green Deal Readiness in the Eastern Partnership Countries' (PROGRESS) are complementary, supporting EaP countries within the context of the EU Green Deal.
Specific Objective
1. Countries’ capacity to adequately measure and reduce national emissions and adapt to the impact of climate change is increased, and implementation of the climate policy frameworks is advanced.
2. Benefits of climate adaptation are demonstrated through specific projects.
3. Credible regulatory frameworks on green financing are established in line with EU norms and bond issuance is diversified and scaled-up.
Expected Results
2. MRV systems improved.
3. Up to 10 demonstration projects, including on healthy ecosystems and biodiversity, implemented showing the benefits of climate adaptation.
4. Strengthened national regulatory frameworks for green financing and up to three green bonds issued.
5. Support provided for the green post-war reconstruction of Ukraine in line with the green and digital agenda.
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