Climate change is a key focus of the Indonesian Government, as reflected in the country's Medium and Long-Term Policies. However, substantial funding is still required to meet climate targets due to a significant funding gap in Indonesia.

Therefore, bilateral and multilateral cooperation is essential to meet its Nationally Determined Contribution (NDC) targets—31.89% emission reduction with domestic resources and 43.20% with international support. Access to international funding, like the Green Climate Fund (GCF), is crucial for Indonesia to achieve these targets.

As of July 2024, the Green Climate Fund (GCF) has approved 17 full funding proposal projects and 6 Project Preparation Facility (PPF) projects from Indonesia. Projects funded by the GCF must align with the priorities of developing countries in accordance with the principle of country ownership. The Fiscal Policy Agency, as the National Designated Authority (NDA) for GCF in Indonesia, is responsible to ensure proposed projects aligned with national priorities and coordinates with relevant stakeholder.

To provide a platform for discussing the progress, updates, and submission plans for various GCF projects and programmes in Indonesia, the NDA, with support from Global Green Growth Institute (GGGI) Indonesia as the delivery partner of Readiness Project, organised a coordination meeting with all Accredited Entities (AEs) and national Direct Access Entities (DAE) operating within the country on 19 – 21 June 2024.

The coordination meeting also aims to provide a comprehensive update on the current status of the project implementation, ensuring that the program implementation is in accordance with the details outlined in the project proposal and identify any challenges that have arisen during the implementation activities. Not only existing AEs and DAEs, the participants of the coordination meeting also come from national Direct Access Entity (DAE) candidates.

The three-day coordination meeting provided a comprehensive overview of the current landscape for AEs and DAEs engaged with the GCF. The discussion sessions, that were conducted in one-on-one format, highlighted significant progress in various projects. This shows the proactive efforts of national and international stakeholders to advance climate initiatives in Indonesia.

Many entities have also emphasized the importance of improving efficiency and responsiveness from the GCF and other stakeholders to support effective project implementation and entity accreditation. Establishing efficient communication channels and proactive engagement is essential for facilitating timely progress and ensuring the successful implementation of climate initiatives.

With the numerous approved projects from the GCF, this creates opportunities for extensive green project funding in Indonesia.

Moreover, strengthening collaboration and enhancing our collective impact will also be essential in achieving climate goals and driving sustainable development.