The Climate and Environment Transition Fund will be structured as a multi-year vehicle aimed at supporting ICRC’s sustainability objectives and climate action.
“Our ambition is clear: we will lead by example and support the evolution of the humanitarian sector for stronger climate action,” said ICRC President Peter Maurer. “This fund is essential to help people adapt to the impacts of the climate and environment crises and to maximize the environmental sustainability of our work.”
The fund will help the ICRC reach essential objectives, including:
• Reducing ICRC’s greenhouse gas emissions by at least 50% by 2030 compared with 2018 levels
• Factoring climate and environmental risks into all its programmes
• Strengthening awareness, understanding and implementation of international humanitarian law to protect the environment
The initial funding requirement for the Climate and Environment Transition Fund is approximately CHF 15.3 million. The funds will help move the ICRC to solar power in countries where it consumes the most generator fuel, helping to save up to 140,000 tonnes of carbon dioxide emissions and CHF 30-50 million over 20 years. Additional funding will help implement context-specific activities to strengthen the resilience of communities to the combined effects of conflict and environmental and climate risks.
Whilst global needs have continued to increase over the years, humanitarian funding is plateauing. To obtain the funding required to respond to the most pressing needs, the ICRC is pursuing a series of innovative finance approaches and models that seek to enable collaboration and partnerships across the humanitarian, development and private sectors.
New Financing Models (NFM) are a series of return- and non-return-seeking financial solutions that channel public and private money toward solving humanitarian challenges.
“We are thankful to our long-standing partners — such as Liechtenstein, Switzerland, the Fondation Lombard Odier and the ICRC Foundation — who are already supporting the Climate and Environment Transition Fund, and we hope to mobilize others to join this essential initiative,” President Maurer added.
> Read more: ICRC launches a new fund to support long-term climate and environment initiatives
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Source : Icrc