Green Climate Fund to Support Development of Conservation International Initiative to Transform Water Security in Bogotá

ARLINGTON, Va. (Nov. 20, 2024) – The government of Colombia, Conservation International and the Green Climate Fund (GCF) announced support for the development of a project to transform water security in the Bogotá region.

The project aims to reduce climate risk for half a million people from highly vulnerable rural communities and 250,000 urban residents by creating financial solutions that leverage private and public resources, increasing climate-resilient work opportunities, and strengthening regional and local governance.

GCF’s Project Preparation Facility will support the development of the ‘Building a Water-Resilient Bogotá-Region Landscape’ project. The decision comes as the region faces severe water shortages due to an ongoing drought.

GCF funding will be used to conduct detailed feasibility studies, financial structure for payment for ecosystem (PES) using 1% of unrestricted budget from Bogotá and other municipalities, environmental social and gender assessments, and other studies to support a robust innovative water project design, ensuring that the project addresses critical water security challenges in the Bogotá-Region, which is vital for Colombia's economy and home to nearly 20% of its population.

“This Green Climate Fund project, with complementary  funding from the Ministry of Environment and the RAP-E Central Region through the Fund for Life, will maintain the critical ecological restoration efforts that are already underway. The project consists of sustaining the conservation of the protected areas, and the restoration of 15,000 hectares that are focused on the provision of water and enhancing the productivity of community lands,” said Colombian Minister of Environment, Susana Muhamad.

“We are profoundly thankful to the Green Climate Fund for recognizing and prioritizing this critical initiative, this administration has committed $11 million dollars in co financing toward restoration and conservation initiatives, ensuring a significant impact on the region’s water security and climate resilience. Additionally, Bogotá will also introduce a new component in the water tariff to finance environmental investments in these watersheds,” said Carlos Fernando Galan, Mayor of Bogotá. "With 1% of unrestricted budget provided by the District and the introduction of a new component in the water tariff to finance environmental investments in these watersheds, Bogotá will contribute to ensuring the long-term financial sustainability of this project."

“The GCF’s support is a critical first step toward building a more resilient future for Bogotá and its surrounding regions. This proposal represents a unique opportunity to harness the power of nature and science to address the water challenges facing millions of people,” said Fabio Arjona, Vice President of Conservation International-Colombia. “By investing in ecosystem restoration and conservation, we can reduce the region's vulnerability to droughts and floods and ensure a sustainable water supply for generations to come. We are deeply grateful for GCF’s early support, which will help lay the groundwork for a transformational approach to water management in this area and to unlock long-term private and public financial resources."

The long-term vision for Building a Water-Resilient Bogotá-Region Landscape is to promote a shift from traditional water management to integrated, ecosystem-based approaches. By demonstrating the financial and environmental benefits of Ecosystem-Based Adaptation (EBA), the project will encourage coordinated action among public and private stakeholders. The project introduces innovative financial mechanisms, such as Payment for Ecosystem Services (PES) and environmental fees, to sustain and scale EBA interventions, ensuring long-term impact beyond the project duration. Additionally, a science-based platform will be established to predict climate-related risks and monitor the effectiveness of interventions, thereby improving water security and reducing the risk of floods and droughts.

“The Bogotá water project concept is a pioneering approach to addressing urban water security in the face of climate change. By integrating ecosystem-based adaptation and innovative financial mechanisms, such as Payment for Ecosystem Services, this initiative sets a new standard for sustainable water management. This project embodies the kind of innovative, nature-based solutions we need to meet our global climate and sustainable development goals,” said Henry Gonzalez, CIO, GCF.

Since January 2024, Bogotá and nearby communities have faced unprecedented water rationing due to low reservoir levels. Urban flooding, previously mitigated by a flood protection dam, has also resurfaced as a concern after recent extreme rainfall events tested the dam’s capacity. For centuries, a steady supply of clean fresh water has been one of the central Bogotá region’s main advantages. However, climate change is now leading to unreliable water supplies, increased risks of flooding, and rising temperatures that threaten high Andean ecosystems.

Conservation International has been working for over 15 years in the Bogotá region and surrounding paramos.

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About Conservation International: Conservation International protects nature for the benefit of humanity. Through science, policy, fieldwork and finance, we spotlight and secure the most important places in nature for the climate, for biodiversity and for people. With offices in 30 countries and projects in more than 100 countries, Conservation International partners with governments, companies, civil society, Indigenous peoples and local communities to help people and nature thrive together. VisitConservation.org for more, and follow us onConservation News,Facebook,Twitter,TikTok,Instagram andYouTube.

About the Green Climate Fund: The Green Climate Fund (GCF) is a multilateral fund created to make significant, ambitious contributions to the global efforts to combat climate change. GCF contributes to achieving the objectives of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. In the context of sustainable development, GCF aims to promote a paradigm shift towards low-emission and climate resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to climate change, while accounting for their needs and supporting particularly those that are vulnerable to the adverse effects of climate change. Through its Project Preparation Facility, the GCF supports preparation of mitigation and adaptation projects.