Page 19 - CARILEC CE Industry Journal_Oct_2019

The convention speaks to common but differentiated renewable energy and energy efficiency projects do qualify.
responsibilities with respect to addressing climate Amongst the criteria that are important for projects to be
change based on the capabilities of countries. considered as NAMAS is the fact that they must be
Recognising that additional financial support is needed country-driven and anchored in national development
to facilitate the achievement of the objectives of the strategies and plans. NAMAS should also consist of a
UNFCCC, various vehicles and mechanism have been combination of policies and financial mechanisms. The
created to assist particularly developing countries with policies serve ideally to create an enabling environment
their mitigation efforts which are to a large part and channel financial flows into low-carbon investments.
sustainable energy. The following are some of the most The financial mechanisms in turn address potential
relevant climate change financing avenues that could barriers for investment and leverage potential public
support sustainable energy in the region. support for mitigation activities. One unique aspect of
NAMAs is the strategy of using international funds to
enable the implementation of NAMAs and leverage
THE NAMA FACILITY additional public and/or private capital investment.

The NAMA Facility, is a financing initiative launched in The NAMA facility in 2019 published its 6th round of
2012 by the German Federal Ministry for the Environment, calls for projects and the facility prides itself in supporting
Nature Conservation, Building and Nuclear Safety (BMU) the implementation of what it terms “transformative
and UK Department of Business, Energy and Industrial NAMAs”. The facility focuses on those parts of NAMA
Strategy (BEIS, former DECC). Three years later, the plans that are ambitious and aspirational and are pushing
facility welcomed the Danish Ministry of Energy, Utilities to do much more than business as usual to mitigate the
and Climate (EFKM) and the European Commission joined impacts of climate change. The process for project
the NAMA Facility as new Donors ( NAMA Facility, 2019). selection is an open and competitive process, which
As the name implies, this facility focusses on Nationally ensures that the most ambitious NAMA Support Projects
Appropriate Mitigation Actions, NAMAS, an important from around the world go forward. However, attention
vehicle to implement Nationally Determined Contributions must be paid to not only ensuring that the criteria
(NDCs) under the Paris Agreement. Although a concise selection is met but also to the time for submission of the
definition for NAMAS has been somewhat elusive, project proposals.

CE INDUSTRY Journal 17