Development of CAF's Environmental and Social Management Framework applicable to Green Funds

The Development Bank of Latin America and the Caribbean (CAF) has hired Asesoramiento Ambiental Estratégico (AAE) to develop a comprehensive Environmental and Social Management Framework (ESMF) specifically for operations financed with resources from the Green Funds: the Green Climate Fund (GCF), the Global Environment Facility (GEF), and the Adaptation Fund (AF).

The purpose of the ESMF is to ensure that CAF, as an accredited entity with the three funds, manages the environmental and social risks and impacts of projects that channel resources from these mechanisms in a consistent, effective manner and in accordance with international standards.

The consultancy includes a comparative analysis of the environmental, social, and gender policies, standards, and guidelines of the three funds; the development of an ESMF adapted to these standards; the design of a Complaints and Accountability Mechanism that complies with the principles of independence, impartiality, and accessibility required by the funds; and the development of a web subportal that centralizes public disclosure of the framework and information on financed projects.

Main outputs:

• Comparative review of the environmental, social, and gender requirements of the three Green Funds.
• Structural proposal for the ESMF applicable to operations financed by the Green Funds.
• Design of the Complaints and Accountability Mechanism.
• Complete and validated Environmental and Social Management Framework.
• Internal ESMF implementation manual.

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