On Friday, Caretaker Minister of Environment Nasser Yassin signed a memorandum of cooperation between his ministry, the United Nations Development Programme (UNDP), represented by Deputy Resident Representative Mohamed Salih, and Cedre Oxygen, represented by Managing Director Anthony Jabbour, on the occasion of the launch of the “Lebanon Green Investment Facility.”
The facility will focus on meeting Lebanon’s climate commitments, in particular those stipulated in the “Paris Agreement,” by facilitating investments in renewable energy, sustainable agriculture, water conservation, climate, smart infrastructure, and other efforts to mitigate and adapt to the effects of climate change throughout Lebanon.
The Minister of Environment described the signing of the memorandum as an “important milestone” and stressed that it will contribute to the financing of private sector projects committed to emissions reduction and the transition to low-carbon emissions, as well as adaptation to climate change, such as renewable energies, sustainable agriculture, water conservation, and infrastructure with international standards.
He recalled that the Ministry of Environment, as the entity authorized to coordinate climate change funds in Lebanon, including the Green Climate Fund, the Adaptation Fund, and the Global Environment Facility, seeks to leverage climate finance and green finance opportunities to stimulate green investments, open horizons for employment opportunities, and encourage innovation.
