Diagnosis and Proposal for the Structure and Contents of the Financial Strategy

• Country: Chile
• Summary: Diagnosis and Proposal for the Structure and Contents of the Financial Strategy
• CLT Ref No: 84172753
• Deadline: 03 Jul 2023
• Financier: United Nations Development Programme (UNDP)
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: UNDP-CHL-00043
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• Description:
• Chile faces a challenge derived from the impacts of climate change. Despite representing only 0.24% of global Greenhouse Gas (GHG) emissions, the country is highly vulnerable and these effects are manifested in tidal waves, a mega-drought of more than 10 years, episodes of rain1edf014045db26d31a02a5bbb8891997intense waves and floods due to the alternation of the usual climatic conditions. For this reason, the country has presented in April 2020 to the United Nations Framework Convention on Climate Change (UNFCCC) the update of its Nationally Determined Contribution (NDC, for its acronym in Spanish).in English) in which it establishes commitments regarding mitigation, adaptation and means of implementation in the face of climate change by the year 2030. In addition, in 2021 it presented its Long-Term Climate Strategy (ECLP), an instrument that defines the general long-term guidelines what will the country follow1edf014045db26d31a02a5bbb8891997in a transversal and integrated manner, considering a 30-year horizon to achieve and maintain carbon neutrality, a development low in GHG emissions, reduce vulnerability and increase resilience to the adverse effects of climate change. This was also reinforced inJune 2022 with the publication of the Framework Law on Climate Change (LMCC) that establishes as a goal that the country be carbon neutral and climate resilient by 2050 at the latest. The Ministry of Finance is the public institution responsible for coordinating, implementing and report the fi component1edf014045db26d31a02a5bbb8891997climate finance before the UNFCCC. In this context, the Ministry of Finance published in December 2019 the Financial Strategy against Climate Change (EFCC) which has the general objective of "providing tools and policies that make it possible to address the instruments of climate change management.climate change in terms of financing, facilitating the implementation of its climate and environmental objectives, and the scope of carbon neutrality and increased resilience by 2050"[1]. In March 2022, the Ministry of Finance published an update of the EFCC giving an account of whats progress made to date. The LMCC establishes in its article No. 35 the minimum contents of the EFCC and determines that it "will be updated when appropriate, at least every five years, in line with the updates of the NDC." Due to the above and with the aim of aligning the EFCC with experiencinternational laws on the matter and the new public policy instruments regarding climate change published and in development such as the LMCC and ECLP, the Ministry of Finance and the UNDP have agreed to advance in a diagnosis and proposal of structure and content for updating the ANDFinancial Strategy against Climate Change, which serves as the basis for the incorporation of inputs and complementary information as part of the process of updating the EFCC and participation dialogues to conclude in 2024, through the hiring of a specialized consultancy, whose objectivesobjectives and scope are described in these Terms of Reference. [1] https://www.hacienda.cl/noticias-y-eventos/noticias/ministerio-de-hacienda-actualiza-estrategia-financiera-frente-al-cambio
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