Highlights
The DFCD's mission is to support climate-relevant business cases that benefit vulnerable communities and ecosystems.
Linked to this purpose, several highlights have been achieved over 2023. In the final year of the first phase of DFCD, in which DFCD resources are also fully committed while having reached all targets, the Origination Facility (OF) maintained a steady flow of 13 graduations and 14 newly contracted projects, demonstrating the OF's added value within the DFCD. The transactions generate investment opportunities that improve climate adaptation and mitigation. Alignment with local landscape needs is sought, with successfully organized multi-stakeholder platforms in countries like Vietnam, Cambodia, Pakistan, Zambia and Uganda. This provides the DFCD Land Use and Water Facilities with a strong pipeline for further investments in 2024, the year in which the Land Use Facility hopes to sign the guarantee agreement with the EC.
An overall DFCD highlight has been the growth we experience as a consortium by working together as efficiently as possible. The cooperation pays off in the amount of transactions signed in 2023 in which partners of DFCD have worked together.
Another highlight has been the expansion of our collaboration with third party investors, which increases the chances of investment in OF originated projects. The collaborations have contributed to the overall success of the DFCD model.
A true highlight for the Origination Facility was the receiving of the top-up in funding of EUR 40mln from the Dutch Ministry of Foreign Affairs. WWF Director Kirsten Schuijt was able to share this news at the UN General Assembly in New York in presence of SNV CEO Simon O'Connell. Furthermore, the official launch event of the top-up has been organized in The Hague, with a contribution from the Dutch Ministry of Foreign Affairs, which resulted in a boost of positive energy ahead of the second phase.
A highlight for CFM is the general achievement of reaching the DFCD targets, especially in terms of commitments to Least Developed Countries (LDCs) and the Ministry of Foreign Affairs' Priority Countries. CFM is also thrilled to see how CFM's CI2 portfolio is growing geographically and technologically diverse. As of Q4 2023, CFM has 14 assets in various stages of development and 7 assets in the pipeline across Asia, Africa and Latin America. CFM looks forward to working closely with the consortium partners and to explore renewed opportunities for project graduation from the additional funding granted in 2023.
The Consortium reflects positively on its progress made over 2023, particularly on the development of its advanced pipeline. In 2024, the Consortium will focus on the expansion of its pipeline, next to signing the EFSD+ guarantee agreement.