Cassa Depositi e Prestiti has reached a new milestone for sustainable development, obtaining accreditation for the Green Climate Fund, the global fund promoted by the United Nations that supports investment in climate change mitigation and adaptation in developing countries.
Cassa Depositi e Prestiti is the first Italian financial institution to have access to the resources of the United Nations fund: this is a great success, which will allow CDP to promote green initiatives in developing countries, contributing to the achievement of the objectives of the UN 2030 agenda.
With a budget of €10.3 billion, the Green Climate Fund was established in 2010 by the 194 countries that are signatories to the United Nations Framework Convention on Climate Change, with the aim of promoting a model of sustainable, resilient and low-carbon development.
Since the signing of the Paris Climate Agreements (COP21), the GCF has taken on an even more central role in the global climate agenda. By catalysing public and private resources through accredited institutions, in addition to its public resources, the GCF aims to become the main vehicle of “climate finance”. To date, Italy is the seventh-largest contributor to the GCF and is represented on the Board by the Ministry of Economy and Finance with the support of the Ministry of the Environment and Protection of Land and Sea.
Over the years, the GCF has already committed about US$5.2 billion of investments totalling US$18.7 billion, thanks to the contribution of 89 bodies already accredited by the Fund.
After the launch of projects such as the PASPED programme and the Archipelagos platform, by joining the “GCF Family”, CDP has further strengthened its commitment in the field of international cooperation, with the aim of contributing more and more to global sustainable development.