NDC Partnership – Improving Private Sector Investment for Climate Action in Belize

Belize requested support through the NDC Partnership for Improving Private Sector Investment for Climate Action in Belize. UNEP Copenhagen Climate Centre (UNEP CCC) responded to the request and has been selected to provide the requested support through the NDC Partnership Action Fund. The report consolidates relevant information on the scope, ambition, priorities, opportunities and challenges related to private sector investments in climate action in Belize. It offers pragmatic strategies to stimulate national private sector engagement, thereby nurturing sustainable economic growth while addressing the exigencies posed by Belize’s climate challenges. It serves as a basis for investigating avenues for government and financial institutions’ interventions to facilitate and incentivize private sector investments in climate action-related sectors

UNEP Copenhagen Climate Centre provides technical assistance to Belize for the development of a strategy to improve private sector investments for climate action, with support from the NDC Partnership.

The government of Belize has recognized the importance of private sector engagement for enhancing climate finance flows towards climate action, and promoting private sector investments in climate actions is one of the core strategic directions in its Climate Finance Strategy 2016-2026, and also part of the country strategy to finance actions aimed at achieving its commitments outlined in its Nationally Determined Contribution.

Through the support provided by the NDC Partnership Action Fund, UNEP Copenhagen Climate Centre (UNEP CCC) has engaged relevant national public and private sector stakeholders in order to map national needs and priorities for climate action, identify challenges, gaps and needs for private sector stakeholders related to climate change and investments in climate action. The findings have been used to prioritize climate actions relevant for private sector investments, and the design of financial support mechanisms in support of private sector investments to support the implementation of the Nationally Determined Contribution.

Through the project UNEP CCC is also enhancing capacities of national institutions and private sector stakeholders to leverage concessional climate finance to facilitate climate investments through blended finance approaches. The final output of the project will provide Belize with a strategy to improve private sector investments for climate action, including concrete concepts for improving private sector investments in renewable energy, energy efficiency and climate friendly agricultural and livestock practices.