The Rwanda Green Fund (FONERWA) has received the United Nations 2018 Momentum for Change Award for its outstanding contribution to addressing climate change.
The fund was selected for the award in the category of Financing For Climate Friendly Investment. Every year, the United Nations Climate Change Secretariat, which leads the Momentum for Change awards, celebrates initiatives that are advancing climate resilience and the Sustainable Development Goals.
The award recognises successful financial innovations for adaptation and climate mitigation. It aims to highlight climate activities promoting low-carbon growth and highly resilient communities through the use of innovative financing mechanisms. The fund was awarded for being one of the most innovative, scalable, and practical examples of addressing climate change.
“These activities shine a light on scalable climate action around the world,” said Patricia Espinosa, Executive Secretary of UN Climate Change. “They are proof that climate action isn’t only possible, it’s innovative, it’s exciting and it makes a difference. I congratulate the Rwanda Green Fund, which is investing in public and private projects that drive transformative change. It is one of the first national environment and climate change investment funds in Africa.”
The Fund was chosen from among 560 applications from all over the world that came from businesses, governments, communities and organisations. The Financing for Climate Friendly Investment category is implemented in partnership with the World Economic Forum Global Project on Climate Change.
Hubert Ruzibiza, CEO of the Fund, thanked UN Climate Change for recognising Rwanda’s efforts to support climate resilient development, and reaffirmed the fund’s unwavering mission to drive green growth in Rwanda.
“This award is recognition of the country’s leadership, and the hard work of communities across Rwanda and the fund team. It encourages us to do even more as we build a climate resilient Rwanda,” CEO Ruzibiza said.
The winning activities fall within one of Momentum for Change’s four focus areas: Planetary Health, Climate Neutral Now, Women for Results, and Financing for Climate Friendly Investment. As part of the award, the Rwanda Green Fund will be showcased at a series of special events during the UN Climate Change Conference (COP24) in December in Katowice, Poland.