Regulation & Policy
Mid-Term review of the Green Financing Facility (GFF) – UNHCR
The UNHCR is in the process of designing and implementing a financing and delivery solution for the decarbonisation of its estate.
The GFF model (designed by EMRC), uses an innovative financing model to procure bundled renewable assets where contract duration is uncertain. The GFF is being used to fund the delivery of solar PV solutions across multiple sites and countries.
EMRC were commissioned to review progress to date and provide advice and guidance on best practice and risk management.
The UNHCR project team has made excellent progress in developing the preliminary stages of the project but have faced challenges on a number of material points. The review offered solutions to mitigate the impact of these challenges.
The GFF has the potential to transform the financing and delivery of renewable assets in the third sector, and the learning points raised were crucial for not only the UNHCR projects, but also other similar initiatives.
A key learning point was the feedback received from the external stakeholder consultations.
Adopting best practice in long term contract procurement can significantly increase project interest, drive value for money and reduce risk.
EMRC undertook a detailed review of the initiative’s strategy and objectives, commenting upon deviations from the original mandate and identifying potential impacts on the GFF’s deliverability.
We also reviewed the procurement methodology, documentation and practical delivery on two pathfinder projects, identifying issues with both process and approach.
EMRC undertook detailed stakeholder consultations, both within UNHCR and outwith (in particular with the private sector tenderers involved with the Pilot projects).