Climate Finance Portfolio
In 2018, PACT established and operationalized a Climate Finance Portfolio (CFP) of work which seeks to unlock new funding streams and build national capacity for the sustainable management of natural resources, climate change and biodiversity. This work is financed from both international and national funding sources, including funding from the Green Climate Fund, Adaptation Fund and PACT.
Adaptation Fund (AF)
The Adaptation Fund (AF) is an international fund set up under the Kyoto Protocol of the United Nations Framework Convention on Climate Change (UNFCCC). The Fund finances projects
and programs to help vulnerable communities in developing countries adapt to climate change. PACT is accredited by the Fund and serves as Belize’s National Implementing Entity (NIE). In this role, PACT accesses, administers, and implements grant resources from the Fund for climate adaptation projects executed in Belize.
Green Climate Fund (GCF)
The Green Climate Fund (GCF) was established in 2010 by the UNFCCC Conference of Parties (COP16) to be an operating entity for the Financial Mechanism of the Convention. The
objective of the fund is to support projects, programmes, policies, and other activities that lead to adaptation and mitigation practices in response to climate change. PACT first gained accreditation to the GCF in 2018, making it the first GCF Direct Access Entity in Belize. PACT is therefore able to access and distribute GCF grant resources in Belize through micro-projects of up to USD$10 million in the category of minimal to no environmental and social risk.