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Green Climate Fund’s First Replenishment Conference

A well-resourced Fund is a prerequisite for translating the 2015 Paris Agreement goals into concrete actions and helping developing countries to make their economies greener and more resilient.
Bruno Le Maire, French Minister of the Economy and Finance

Green Climate Fund’s First Replenishment Conference

Odile Renaud-Basso, Director-General of the French Treasury, and Yannick Glemarec, GCF Executive Director

During the GCF Pledging Conference in Paris on 25 October, 27 countries made record-high pledges totalling USD 9.78 billion equivalent for the next four years. 75% of countries increased their pledges in national currency from the initial resource mobilization and nearly 50% doubled or more than doubled their pledges, representing a 70% increase in GCF’s annual programming resources.

The contributions will enhance the Fund’s ability to support developing countries to design and deliver ambitious climate action plans, or Nationally Determined Contributions (NDCs), which are key to the Paris Agreement.

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Thank you for your pledges to the Green Climate Fund

UNSG calls for doubling of contributions to the Green Climate Fund

An ambitious replenishment will enable the Fund to continue to promote adaptation, resilience and carbon-neutral development in developing countries.
-António Guterres, United Nations Secretary-General

GCF’s successful first replenishment will enable the Fund to fulfil its role in channelling adequate and predictable climate finance to developing countries. GCF’s support over the 2020-2023 programming period will be critical in raising and realising the climate commitments to be articulated by developing countries in their updated NDCs in 2020.

The Ambition

The 2018 IPCC report is an urgent call for climate action, estimating that we only have a few years to act before the effects of a warming planet become irreversible. Estimates of the investments required to bring the world closer to the goal of limiting temperature rises to well below 2℃ are in the range of USD 5 trillion. The replenishment of the GCF in 2019 is key to ensuring the availability of public finance required by developing countries to raise and realize their climate ambitions.

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 We will continue to be global advocates for the increased mobilization of public and private finance for mitigation and adaptation and we reiterate our support for a successful replenishment of the Green Climate Fund, which is today the most important institution that channels climate finance to developing countries. 
Andrew Holness, Jamaican Prime Minister Next quote >
 We know that [sea level rise] will impact the Marshall Islands in very serious ways, so we have to have adaptation which we call a survival plan. In order to make that plan a reality… we need the donor community to come up with the resources that will help us adapt to our situation... We know we cannot do it on our own, so the necessity of an organisation like the Green Climate Fund comes into play.  
Hilda Heine, Marshall Islands President Next quote >
 I want to see governments fulfilling their pledge to mobilize 100 billion dollars a year for climate action in support of the developing world. We need to see the Green Climate Fund become fully operational and fully resourced. 
Antonio Guterres, UN Secretary General Next quote >
 GCF is a key element of the global climate finance architecture. We need a strongly replenished GCF because that's going to provide a strong signal in favour of collective resolution... So let's make it happen, together. 
Suma Chakrabarti, EBRD President Next quote >
 As the largest per capita donor, Sweden is a strong supporter of the GCF as we believe it has a decisive role in the implementation of the Paris Agreement and Agenda 2030. The Fund became operational in record time and has made great progress over the past couple of years. Sweden remains committed to the GCF and will work dedicatedly for an ambitious replenishment. 
Isabella Lövin, Minister for International Development Cooperation and Climate, and Deputy Prime Minister, Sweden Next quote >
 The G7 members that are committed to the swift and effective implementation of the Paris Agreement reconfirm the commitment to implement their part in mobilizing finance for supporting climate action in developing countries, as decided at COP21 in Paris. They will work towards a successful replenishment of the Green Climate Fund 
G7 Environment Ministers’ Meeting, 5-6 May 2019 Next quote >
 We call upon all countries to reach a balanced outcome under the Paris Agreement Work Programme during COP24 that enables operationalization and implementation of the Paris Agreement. We stress the importance and urgency of conducting a successful and ambitious first replenishment process of the Green Climate Fund. 
BRICS Leaders’ Meeting on the margins of the G20 Summit, 30 November 2018 (Heads of State and Government of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa) < Go back

The unique role of the GCF in climate finance

Building on its success and operational experiences, GCF’s comparative advantage to achieve its mandate under the Paris Agreement lies in the Fund’s ability to unlock initiatives and projects that would otherwise have remained on the drawing board. GCF has also been able to integrate rigorous appraisal of climate considerations into project design. Four key elements illustrate GCF’s unique role:

    Impactful projects on the ground

    Since the approval of our first projects in 2015, GCF has delivered climate solutions to where it matters most. From forestry interventions in Ecuador, to emergency warning systems in Malawi, to financing renewable energy in Egypt, GCF's climate actions provide much-needed climate action for countries affected by climate change.

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