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09 Dec 2014
New York — UNDP and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. have announced F3-Life as the winner of the US$ 10,000 Climate Change Finance Innovation Award.
The contest aims at addressing the urgent need for innovative financing concepts, for scaled-up mitigation actions, leading to increased private and public investments in developing countries, and assisting them in achieving sustainable, low carbon, green growth.
Mark Ellis-Jones, receiving the award on behalf of F3-Life stated, “We have applied for this award in order to research and assess the possibility to include additional measures which will help to improve soil conservation. We promote climate-smart agriculture production systems that sustainably increases productivity, adaptation and removes greenhouse gases from the atmosphere.”
With more than 500 million smallholder farms globally, there is a huge potential to support sustainable farming, field and livestock management. F3-Life is expected to reach out to more than 300 farmers in Kenya’s Southern Aberdares region in 2015, and is planning to scale-up throughout high potential agricultural areas in East and Southern Kenya.
Their unique green loans scheme has been able to enact behavior change among smallholder farmers by linking credit limits and interest rates, to the quality of natural resource management practices adopted by the farmers. The award announcement comes at a time when the UN Framework Convention on Climate Change (UNFCC) Conference of Parties (COP) is taking place in Lima to boost collaboration for a new climate and development era. Mitsubishi UFJ Morgan Stanley, the sponsor of the award stated, “We have been involved in climate change mitigation since 2001 and believe that innovation is the only way to successfully mobilize new financial resources. We hope that the award will be used for successful replication of the F3-Life’s approach in Kenya and globally.”
Marcel Alers, Head, Energy, Infrastructure, Transport &Technology, UNDP Global Environment Facility (GEF), Bureau for Policy and Programme Support stated, “The Innovation Award Contest was a great opportunity for people from around the globe to showcase their impressive approaches to innovative climate finance. I hope that the proposed concepts will be taken forward and will help to increase the much needed investments in low carbon technologies in developing countries.”
As part of the global effort to implement a host of low-carbon interventions, UNDP MDG Carbon funded by AusAID, has been promoting the use of new climate finance actions to reach the poorest developing countries (in Africa, Asia and the Pacific), involving different technologies in a variety of sectors and leveraging significant sums in private-sector co-investments.
Alexandra Soezer – email@example.com, MDG Carbon Project Manager, Tel: +1-212-906-6433 |Cell: +1-917-293-6269
Sangita Khadka – firstname.lastname@example.org, Communications Specialist, Tel: +1 212 906 5043 | Cell: +1 917 530 8980
Vladislav Arnaoudov– email@example.com, Clean Energy Finance Division, Tel: (+81)-3-6213-6382