Leveraging standards to deliver on climate adaptation in developing countries – ISO announced as a winner of the GEF’s Challenge Program at COP29

From initiatives to enhance the adaptive capacity of women entrepreneurs in the agricultural sector through financial inclusion, to scaling up traditional fire management techniques for resilient ecosystems services through carbon credit generation, crowdfunding climate-smart loans, developing a virtual green bank for adaptation, and kickstarting international markets for resilience-building bonds, 13 award-winning projects all aim to test and scale up vital financial innovations.

Empowering developing countries: Advancing national climate policies with standards

ISO is launching a pilot project to enhance integration of climate-relevant standards into national policy and business practices in developing countries.

The project will provide tools to help governments assess organizational vulnerability and improve climate planning, while equipping SMEs with the necessary resources and support to implement adaptation strategies. By leveraging international best practices and the credibility of ISO standards, this initiative will foster stronger policy integration and private sector engagement, contributing to climate adaptation efforts at all levels.

“We are thrilled to embark on this partnership with the GEF, supporting adaptation efforts in developing countries by harnessing the power of international standards. This collaboration represents a crucial step toward enhancing the capacity of both the public and private sectors to accurately measure climate risk and access vital finance for climate adaptation. Together, we will drive meaningful progress, ensuring that the most vulnerable communities are better prepared and resilient in the face of climate challenges. The opportunity to demonstrate the tangible way that international standards contribute to sustainable solutions and promote climate resilience across the globe excites us immensely.”
Sergio Mujica, Secretary-General, International Organization for Standardization

In this pilot phase, ISO’s initiative will deliver technical assistance, awareness raising activities and a comprehensive Training of Trainers program to National Standardization Bodies (NSBs), policymakers, regulators, and the private sector in countries in the Latin America and Caribbean region.

We are thrilled to embark on this partnership with the GEF, supporting adaptation efforts in developing countries by harnessing the power of international standards.

Sergio Mujica

Secretary-General, ISO

GEF Challenge Program: Driving innovation and finance for climate adaptation

The GEF-backed Challenge Program for Adaptation Innovation aims to pilot and de-risk new approaches to adaptation funding, leveraging donor funding to create the conditions for comprehensive private sector engagement in overcoming the shared challenges of climate change.

“Adapting to climate change is one of the defining challenges of our time, but it also offers an undeniable opportunity. By seeding these new approaches to climate adaptation funding, we are enabling the development of innovative technologies, while reducing risk and providing the conditions needed to open financial flows and enable new investors and sectors to take action,” Carlos Manuel Rodríguez, GEF CEO and Chairperson said.

Selected from well over 100 proponents from around the globe, the latest tranche of winners will bring GEF investments in the Challenge Program to over $40 million across 32 projects in implementation or development, with an additional $40 million to be invested in the period to 2026.

The teams behind each of the winning proposals announced at COP29 will be invited to further develop and implement their concept in collaboration with one of GEF’s 18 agency partners.

Adapting to climate change is one of the defining challenges of our time, but it also offers an undeniable opportunity. 

Carlos Manuel Rodríguez

CEO and Chairperson, GEF

Financing for the Challenge Program comes from the GEF’s two dedicated climate adaptation funds – the Least Developed Countries Fund (LDCF) and the Special Climate Change Fund (SCCF). The LDCF is the only multilateral climate fund designed to address the unique climate adaptation needs of Least Developed Countries; while the SCCF is focused on targeting the adaptation priorities of Small Island Developing States as well as catalyzing innovation, technology transfer, and private sector engagement. Together the two funds have provided approximately $2.5 billion in grant financing and mobilized an additional $14.3 billion from other sources, which is expected to reduce the vulnerability of 84 million people in 118 countries since their inception in 2001.