Course and Forum on Climate Risk Management and Sustainability in Public Investment Projects in Panama

Based on the possible lines of action from the Regional Course and Forum held in Honduras in April 2016, and as requested by the Panama Minister of Economics and Finance, the Mexico Subregional Headquarters of ECLAC coordinated and held a national course on “Public Investment Projects Involving Comprehensive Disaster Risk Management and Climate Change, Environmental Sustainability, and Climate Finance in Panama”, the course was held in coordination with the State Subdirectorate of Concessions and Risks, and the Department of Investment Programming, both of which form part of the Ministry of Economics and Finance (MEF)

The course was conceptually and strategically based on the possible lines of action from the Regional Course and Forum held in Honduras in April 2016, as well as the developments and specific needs that were proposed by technical officers of subdirectorates and departments of the MEF. In that sense the national course is a means to increase the robustness of projects, the resilience of both institutions and possibly affected populations, and to improve the environmental impact assessment that guarantees their sustainability, it also went over the application and use of international funding available to developing countries that are threatened by extreme events and vulnerable to volatility and climate change.

Objectives

1. Apply the concepts of comprehensive risk management in disasters, particularly climate-related ones, as well as the criteria for environmental sustainability and sustainable adaptation, including in public investment projects (PIPs).
2. Identify, comprehend, and propose the criteria and requirements used by financing mechanisms, such as those related to the UNFCCC, to strengthen the methodology used in the shaping, evaluation, and strengthening of low emissions and climate resilient PIPs as part of the 2015-2019 Strategic Governmental Plan objectives
3. Adopt the principles and concepts required by international financing mechanisms as well as national budgetary requirements to prepare proposals to strengthen two national investment projects involving comprehensive risk management in climate-related disasters and environmental sustainability.

Participants

Technical officers from national institutions – secretariats, municipalities, and/or decentralized institutions – Actively and directly responsible for the shaping and assessment of PIPs following the MEF regulations and protocol on the incorporation of economic risk valuation for natural disasters, particularly those that are climate-related, climate scenarios, impact assessment, and environmental sustainability.

Recommendations

Make progress in the inclusion and generalization of the requirements for international climate finance mechanisms in the methodology guides for public investment, including comprehensive risk management and climate change.

Support the efforts of the FAO and the Ministry of Agricultural Development in developing methodology guide for agricultural projects, including disaster risk management, climate change, and international climate finance mechanisms.

Focus the efforts of public investment projects on developing quality projects before resolving the issue of placement of funds from international finance mechanisms.

Involve the designers and implementers of projects in the process of developing the profiles of public investment projects. Additionally, include local leaders in the design of public investment projects, as well as community members of advanced age who could propose viable and feasible solutions.

Include investment project profiles in risk management analyses.

Develop a critical mass of technical officers of the MEF committed to the topic, allowing the training of instructors that would bring assistance to the designers from public user institutions of the National System of Public Investment.

Conduct a capability strengthening program granting certificates to MEF technical officers.

Actively participate in webinars organized the Interamerican Association for Environmental Defense (AIDA) in coordination with the Green Climate Fund regarding the current state of the fund and financing options.