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RAC NAMA Fund at “Inspiring Ambitious Action on Climate Change – The NAMA Facility Workshop 2018”

By panat Intuputi In News May 15, 2018

The Bonn Climate Change Conference is held from 30 April to 10 May 2018, during which governments negotiate the implementation of the 2015 Paris Climate Change Agreement ahead of the UN Climate Change Conference (COP24). The NAMA Facility hosted a side event “Inspiring Ambitions Action on Climate Change – The NAMA Facility Workshop 2018” at the conference. The side events and exhibits are organized under a common theme, “Accelerating implementation of the Paris Agreement”.

On 4 May 2018, representatives from the Electricity Generating Authority of Thailand (EGAT) attended the workshop. Ms. Anchalee Natikool from EGAT was invited to share experiences of a National NAMA Fund in the session “Enhancing Financial Ambition in NAMAs and Climate Mitigation”, in which representatives from other financial institutions, namely the Global Green Growth Institute, the Climate Policy Initiative and the Private Sector Facility of the Green Climate Fund, also gave their commentaries.

Ms. Natikool introduced the RAC NAMA Fund as one important component of Thailand RAC NAMA project, emphasizing that Thailand’s RAC NAMA Fund is one of the pioneer “climate finance” projects funded by NAMA Facility Fund in South East Asia. She explained the financial support provided through the project and outlined the functions of the fund in Thailand and how it will be implemented. The total budget of 8.3 million Euros of the RAC NAMA Fund is designed for financial mechanisms stimulating the market of green energy efficiency cooling from both supply and demand sides. It is divided into loans and grants to not only support the development and production of climate-friendly products, but also for testing and training facilities to establish a safe environment for these new technologies. EGAT is determined to coordinate with all sectors to promote energy efficiency in an eco-friendly approach. The Thailand RAC NAMA Project will help the country reduce its greenhouse gas emissions and reach its energy consumption reduction target.

The RAC NAMA Fund, aiming to provide financial support to promote natural refrigerants, has been established from Thailand RAC NAMA Project following the signing of the Grant Agreement in December 2017 with EGAT as the project fund manager on behalf of the Royal Thai Government.

The NAMA Facility was established in 2012 by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) and the UK’s Department for Business, Energy and Industrial Strategy (BEIS) and later joined by the Danish Ministry of Energy, Utilities and Climate (EFKM) and the European Commission as new Donors in 2015.