Using experience to build expertise
Fondo Acción has been one of Colombia’s key delivery partners since 2010 through 4 readiness projects worth over USD $3.5 million and 4 of Colombia’s 10 pipeline projects. The entity has significant experience in strengthening capacities on climate change with governmental entities (national and subnational) regarding mitigation, adaptation, and climate finance, in particular REDD+ National Strategy, Low Carbon Development Strategy, National Adaptation Plan, Green Growth Policy, and Climate Finance Strategy.
At a glance
Number of Readiness Grants+
Fondo Acción has delivered the support of 4 readiness grants since 2018.-
Amount of Readiness Financing+
Cumulative funding amount of GCF Readiness Support to Fondo Acción since 2018.-
Total pipeline financing+
Cumulative funding amount of GCF Pipeline Financing to Fondo Acción since 2018.-
"Readiness support helps countries advance in terms of capacity building, coordination, governance and planning for climate action with a country-driven approach."
Elizabeth Cristina Valenzuela Camacho
Technical Director of Fondo Acción
One of Colombia’s key climate action partners
Portfolio with impact / Multi-faceted country planning support
Learning from experience for success / 3 tips for successful Readiness activities
Diverse strategies employed
Enable Private Sector Mobilization
Permanent Support for Change
Colombia's experience shows us that private sector mobilization comes from permanent support in the form of both financial and human resources to develop the capabilities of the private sector. This allows for private sector engagement strategies and projects, such as COL-RS-006, which developed a road map of all of Colombia's green financial instruments that the national banks have. It is these projects which allow countries to understand the mobilising resources of the domestic private sector to close the climate finance gap, decarbonise financial portfolios, and showcase projects to invest in.
Address Operational Risks
Information Management System
Through Fondo Acción’s experience as a project implementer, the entity has developed an internal Integrated System of Information which allows Fondo Acción to make a detailed follow up on the progress of projects, review execution details, and easily view historical reports on compliance. The information system is available to all employees of the organization (technical, financial, and legal) through the intranet crucially reduces operational, information and management risks during the project execution stage.
Define Private Sector Engagement
From Smallholder Farmers to Multinational Corporations
Elizabeth Cristina Valenzuela Camacho, Technical Director of Fondo Acción, suggests that effective private sector engagement comes from a clear definition of the type of private sectors you will be engaging with and tailoring messages and activities to their interests. Simply dividing bodies by ‘public’ or ‘private’ sector is not enough as the private sector category is broad and diverse, including smallholder farmers, multinational corporations, insurance companies, and private financiers.
Only with the RPSP
Advance capacity building
Through a country-driven approach.
Bridge knowledge gaps
Through the development of relevant technical documents.
Strengthen institutional capacities
Through climate policy planning and implementation.
Engaging with people to seek change
Strategic Adaptation Initiatives