Why in news?
India has kicked-off a USD 43 million project to boost climate resilience in three coastal states in partnership with the UNDP.
About the project:
- The project is funded by the Green Climate Fund (GCF).
- The six-year project will build climate-resilient livelihoods for 1.7 million people in Andhra Pradesh, Maharashtra and Odisha.
- It offsets 3.5 million tonnes of carbon, protects vulnerable ecosystems, and benefits another 10 million people with improved shoreline protection.
- The Indian government will finance an additional USD 86.8 million towards the project to mainstream and accelerate the impacts of the GCF grant.
- The project will work with communities in restoring ecosystems and promoting climate-resilient livelihood options, such as the sustainable farming of mud crabs.
- Communities, including the local youth, will be trained to work with scientists in monitoring ecosystem health and coastal ecology.
Green climate fund (GCF):
- It was established under the Cancun Agreement in 2010 by UNFCCC as a dedicated financing vehicle for developing countries within the global climate architecture.
- It is serving as the Financial Mechanism of the UNFCCC and the Paris Agreement.
- GCF launched its initial resource mobilization in 2014 and the funds come mainly from developed countries and also from some developing countries and regions.
- The Fund pays particular attention to the needs of societies that are highly vulnerable to the effects of climate change, i.e. Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States.