Law No. 44/X/2024 creating the Cape Verde Climate and Environmental Fund and establishing the basis of its legal regime.

This Law outlines the creation and objectives of the Climate and Environmental Fund of Cape Verde (FCA). To address climate challenges, the government aims to establish a comprehensive climate governance framework that enhances transparency and fulfills commitments under international agreements such as the Paris Agreement and the Global Biodiversity Framework. The FCA is designed to mobilize and accelerate financing for climate and environmental projects, leveraging public, private, and philanthropic investments. It will support initiatives that reduce greenhouse gas emissions, enhance carbon sequestration, conserve biodiversity, and promote sustainable practices in various sectors, including renewable energy, sustainable agriculture, and coastal resilience.
The FCA will operate as an autonomous entity with a legal personality, headquartered in Praia, Cape Verde. It will be governed by a Board of Directors and an Executive Director, ensuring effective governance and accountability. The FCA will prioritize projects that align with Cape Verde's Nationally Determined Contributions and National Adaptation Plan, focusing on climate adaptation, biodiversity conservation, circular economy initiatives, and sustainable agricultural practices. By establishing the FCA, Cape Verde aims to position itself as a leader in climate action among SIDS, fostering a green and blue economy while ensuring sustainable development and resilience against climate change impacts.