Survey on Climate Action and Private Sector Investments

Through the second GCF Readiness Project in North Macedonia ‘’Strengthening country capacities for climate change adaptation and mitigation and finalization of country work programme for the Republic of North Macedonia’’  the Food and Agriculture Organization of the United Nations (FAO) supports the Cabinet of the Deputy President of the Government in charge of Economic Affairs, as National Designated Authority for the GCF and all other relevant actors in widening their knowledge and strengthening ownership for access to GCF resources, including in identifying climate financing opportunities in the country’s nine priority sectors - energy, transport, agriculture, biodiversity, health, water resources, forestry, waste, and cultural heritage.

This readiness project puts particular emphasis on unlocking the potential of the private sector in climate action and green investments.  In this context, FAO works with the NDA to map the private sector actors in North Macedonia and help them fully tap into opportunities for transformative investments in resilient and low-carbon economic development that could also bring them efficiency and profitability gains.

Mapping of private sector actors with existing or potential role in supporting climate action in North Macedonia was conducted, including a desk research and analysis of the national strategies relevant for private sector climate financing, analysis of the banking sector initiatives relevant for climate investments, as well as an online survey on private sector climate action and investments.

The online survey was conducted in the period January-February 2021 and distributed to around 180 private companies in North Macedonia, directly and through the national chambers of commerce and business associations. It examined the private sector understanding of climate change, climate finance and the use of technologies by which companies mitigate and/or adapt to climate change. Total of 70 companies responded to the survey.

The online survey informed the implementation of four private sector-oriented focus group discussions in July 2021, under the second GCF readiness project, which gave further insights into the attitudes and challenges of private companies from the energy, agriculture, transport, construction, manufacturing and ICT sectors to engage in climate action and investments.

The recommendations from the implemented private sector survey and focus group discussions aim to support policy-makers better understand the challenges facing private sector companies related to climate action and to design policies, solutions and financial instruments that will effectively support companies and mobilize private investments for climate action and green development.

Finally, the data collected through the survey is an important input for the first Macedonian web toolkit on private sector engagement with the GCF, currently under development by FAO and the NDA, which will serve as key capacity strengthening tool to leverage private sector participation and investments in climate action in North Macedonia.

The Survey Report with recommendations will be published soon on the NDA webpage.

 

 

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