Executive Viewpoint / Héla Cheikhrouhou
Scale is essential for GCF to deliver on its ambitious mandate.
“The Paris Agreement would warrant clarity about the new and additional climate financing that will be made available in the years ahead. The Financial Mechanism of the Climate Convention needs to be predictable and significant enough to contribute to the implementation of a Paris agreement and to the objective of keeping global warming to below two degrees Celsius. Although governments have pledged to mobilize significantly more funding to reach the agreed USD 100 billion in new resources per year by 2020, the current level of USD 1.5 billion per year of commitment capacity of GCF is far from the levels required to deliver on its mandate to support low-emission and climate-resilient development in developing countries and to contribute to climate action.”
|Decision||Decisions of the Board – Eleventh meeting of the Board, 2 – 5 November 2015||GCF/B.11/24|
|Decision||Date and venue of the next meeting of the Board of the Green Climate Fund||DECISION B.11/13|
|Decision||Appointment of members to Committees of the Board||DECISION B.11/14|
|Decision||Updated administrative guidelines on human resources||DECISION B.11/12|
|Decision||Consideration of funding proposals||DECISION B.11/11|
What is GCF?
Climate change is the defining challenge of our time. The human impact on our planet is unprecedented. Long-term changes in the earth’s climate system are significant. The Green Climate Fund was established with a mission to advance the goal of keeping the temperature increase on our home planet below 2 degrees Celsius.
The Fund is a unique global initiative to respond to climate change by investing into low-emission and climate-resilient development. GCF was established by 194 governments to limit or reduce greenhouse gas emissions in developing countries, and to help adapt vulnerable societies to the unavoidable impacts of climate change. Given the urgency and seriousness of the challenge, the Fund is mandated to make an ambitious contribution to the united global response to climate change.