The UNFCCC Technology Mechanism hosts climate and country experts at the climate conference to discuss climate technology solutions that drive real impact
COP29, Baku, Azerbaijan, November 14, 2024 – Today at COP 29, the UNFCCC Technology Mechanism – comprised of the Climate Technology Centre and Network (CTCN) and the Technology Executive Committee (TEC) - hosted an inspiring side event to celebrate a decade of action on climate technology since the establishment of the CTCN.
Hon. Ruth Nankabirwa Ssentamu, Uganda's Minister of Energy and Mineral Development, spoke to the tangible impacts resulting from CTCN catalytic technical assistance in Uganda. She highlighted that CTCN technical assistance in her country had been instrumental in developing foundational policies to boost investor confidence, ensuring a stable legal framework: now, the country is poised to tap into the potential of geothermal energy as a significant, clean, reliable, and locally available resource.
In a fireside chat moderated by Rachel McCormick, Director General of International Affairs at Natural Resources Canada and a longstanding CTCN donor, five climate technology experts from Costa Rica, Laos, the Republic of Korea, the Solomon Islands, and the Technology Executive Committee shared their impact stories. These ranged from Costa Rica’s adoption of a national circular economy strategy to mobilizing over $10 million in funding for Laos, piloting the first e-bus fleet in the Solomon Islands, modernizing district heating systems in Serbia with pro-bono support from the Republic of Korea, and transforming national climate technology action plans into concrete investments.
At the event, the Green Climate Fund (GCF), represented by Ms. Kavita Sinha, Director of the Private Sector Facility, made a special announcement referring to the approval of Project Preparation Facility (PPF) funding for Kenya Commercial Bank’s initiative to benefit over 2 million Micro-, Small-, and Medium-Sized Enterprises in Kenya, in adopting climate sound technologies.
Developed with support from CTCN and Sustainable Solutions for Africa, this is KCB’s first GCF PPF funding and the CTCN’s first such support for large-scale project implementation, strengthening the critical linkage between finance and technology mechanisms of the UNFCCC. By leveraging KCB’s nationwide network and Kenya’s strong technology potential, the comprehensive $218 million project - which is set for GCF submission in 2025 – aims to deliver affordable, tailored financing for climate-resilient agriculture, renewable energy, and clean technologies, fostering inclusive growth and sustainable development across the region.
“By integrating financial resources with technological assistance, we will tackle financing challenges and provide the necessary tools for adopting sustainable practices while safeguarding against climate risks,” said Caroline Wanjeri Kihara from KCB Kenya Limited.
Reacting to this special announcement, Hon. Alice Wahome, Elder of the Order of the Golden Heart, Kenyan Cabinet Secretary for Lands, Public Works, Housing, and Urban Development, highlighted that Kenya has embraced technology and innovation and stressed that training for adaptation and resilience will be critical. She also acknowledged the testimonies of panelists with experience working with the CTCN, commending their efforts. She noted that Kenya is the home of UNEP, and as the host institution of the CTCN, she affirmed the country’s readiness to partner with the CTCN.
“These successes are not isolated achievements,” emphasized Mr. Christofer Ahlgren from the European Commission in his closing remarks, “they are a testament to the power of collaboration and the critical role of financing for climate technologies through initiatives like the CTCN. Our collective journey toward a sustainable future is complex but not impossible. Let us leave today’s event inspired, determined and committed to amplifying the impact of our work”.
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For more information or media inquiries, please contact [email protected] or visit the CTCN and Technology Executive Committee web pages.
About the UNFCCC Technology Mechanism:
Within the United Nations Framework Convention on Climate Change (UNFCCC) process, countries have confirmed the importance of enhancing the development and transfer of climate technologies to developing countries. To facilitate action in this regard, in 2010 the Conference of the Parties to the Convention established the Technology Mechanism. The Mechanism consists of two complementary bodies that work together through the Joint Work Programme of the Technology Mechanism to achieve its objective: the Technology Executive Committee (TEC) and the Climate Technology Centre and Network (CTCN).
The TEC addresses policy issues related to climate technology development and transfer. it analyses these issues and provides recommendations that support country efforts to enhance climate technology development and transfer.
The CTCN is the operational arm of the Technology Mechanism, hosted by the United Nations Environment Programme (UNEP). With a network of over 800 climate technology experts, including private sector, research institutions, and NGOs, the CTCN connects developing countries with climate technology solutions, fostering low-carbon, climate-resilient development. At the request of countries, the CTCN delivers customized technology solutions, capacity building, and policy guidance to accelerate climate action.