The Bolivia Supreme Decree 5264 establishes a comprehensive framework for climate finance management and access, supporting the implementation of Bolivia's Nationally Determined Contributions (NDCs). Building upon Law 300 (Framework Law of Mother Earth and Integral Development for Living Well), this Supreme Decree emphasises the Bolivian vision for a development in harmony with Mother Earth for the living-well (Vivir-Bien), protecting both Mother Earth's rights and the rights of indigenous-peasant communities, particularly concerning climate crisis context.
The Supreme Decree creates an institutional structure that distributes responsibilities across different ministries and establishes the National Registry of Programs and Projects (RENAPP) for tracking climate initiatives and emission reduction units. The decree assigns specific roles to key ministries: (1) evaluation and prioritisation of projects by the Ministries of Hydrocarbons and Energy, Environment and Water, and Rural Development; (2) management of RENAPP by the Ministry of Environment and Water; (3) oversight of debt-for-nature swaps and carbon credits by the Ministry of Economy and Public Finance; (4) access to climate finance mechanisms by the Ministry of Development Planning.
Equally, this Supreme Decree establishes four fundamental guiding principles for climate finance: (1) Sovereignty, ensuring state control over natural resources and emission reduction units; (2) Transparency, requiring mandatory disclosure of climate finance information; (3) Common but Differentiated Responsibilities, aligning with UNFCCC and Paris Agreement principles; (4) Precautionary Principle, emphasising preventive measures for environmental protection.
Moreover, the scope of the Supreme Decree encompasses public entities, state-owned enterprises, and private actors (both domestic and foreign), applying to both national and subnational climate change mitigation and adaptation projects.
