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CDP collects and manages funds for the Ministry of the Environment and Land and Sea Protection (MATTM) to promote projects aimed at fighting climate change and land pollution
As part of its institutional mission to support policy actions to incentivise and support economic growth, CDP is tasked with managing funds in the name and on behalf of various Italian government ministries.
The MATTM Fund collects funding held by the Ministry of the Environment and Land and Sea Protection which is earmarked for projects aimed at mitigating and adapting to climate change in vulnerable foreign countries. Initiatives are typically promoted in developing countries and focus on improving energy efficiency, assessing risks and sharing skills, and disseminating and promoting low-emission models for economic development.
The MATTM Fund was established in 2016 following the Paris Agreement (COP21) and the ratification in New York of the climate change commitments undertaken and signed by 177 countries. Today the fund has a total of €54 million and may be increased in the future.
The MATTM Fund has invested in a number of specific projects in beneficiary countries with which a Memorandum of Understanding has been signed with the country’s government. The first memoranda were signed within the scope of the COP21 in Paris, after which new agreements were entered into during the COP22 in Marrakech. Countries with which a Memorandum of Understanding is in place include Botswana, CARICOM, Comoros, Egypt, Ghana, Maldives, Panama, and Papua New Guinea.
CDP is responsible for the management and disbursement of funding and reporting.