Since beginning its strategic engagement with the GCF, Uruguay has undertaken a path of continuously increasing national stakeholders’ capacities that included submitting a solid Country Programme to GCF that was endorsed by the Secretariat in October 2021. The country has progressed in establishing strategic frameworks involving the public and private sectors to access climate finance, aiming to scale up its low-emissions, climate-resilient development in line with the National Climate Change Policy (PNCC), nationally determined contributions (NDCs) and national adaptation plans (NAPs). This has allowed to develop a country-driven projects pipeline with a strong science basis to access GCF funding. However, there are remaining challenges to reach a paradigm-shift in business models and for private financing strategies to pursue low-carbon and climate-resilient development. 

Reduced capacities and tools of key national institutions to incorporate climate change considerations as well as recognizing and promoting good practices in productive activities, and limited understanding of the underlying opportunities to do so by the private and financial sectors in Uruguay, are slowing down the implementation of NDCs and NAPs as well as the access to GCF funding. 

The goal of the current Readiness request is to improve capacities and available information for key public and private organizations and to enhance strategic frameworks for increasing private investment in climate change in Uruguay.