GCF hosts discussion on Fund’s role in implementing the Paris Agreement
The second side-event hosted by GCF at COP22 turned the spotlight onto the Fund’s role in implementing the Paris Agreement. Following last week’s event examining the Fund's progress to date, the GCF Board Co-Chairs introduced a session examining the strategic role of the Fund, its role in the climate finance landscape, and how it can mobilize funds at scale. The event featured representatives of partner countries and accredited entities to the Green Climate Fund.
Zaheer Fakir, Board Co-Chair from South Africa, set out an ambitious vision for the future of the Fund, stating, “GCF is about transformation, pushing the boundaries, doing ‘business unusual.’ It’s about ambition, and the realisation of that ambition.”
Fakir highlighted the recent approval of funding to support two National Adaptation Plans for Liberia and Nepal as evidence of the Fund’s ability to deliver rapid support, and to promote country ownership.
Ewen McDonald, Board GCF Co-Chair from Australia, provided an overview of the Fund’s project portfolio, and stressed the importance of collaboration to the Fund. “GCF will only be as successful as the quality of its partners and the investments we design together,” he stated.
McDonald urged partners to bring the Fund innovative and transformative ideas to help GCF achieve a high impact.
Tuvalu Prime Minister Enele Sapoaga expressed his thanks to GCF for its decision to fund a coastal adaptation project in his country. “GCF provides the vessel of our survival, the vessel of hope to deal with the impacts of climate change,” he stated.
The Prime Minister shared Tuvalu’s experiences in responding to the threat of sea-level rise, which has created inundations that threaten the population’s survival. He emphasised the importance of responding to the needs of communities on the ground, as well as building capacity by training young people for the future.
Two accredited entities to the Fund also shared their experiences, with contributions from Luis Enrique Berrizbetia, Vice President of CAF, and Amal Lee Amin, Chief of Climate Change and Sustainability Division, Inter-American Development Bank. Each described projects that had been developed with the Fund, drawing lessons about the Fund’s potential, and its ability to leverage private sector finance to deliver at scale.
GCF staff are present at the Marrakech COP, and are available to engage with participants at the GCF Dome, located on the main Boulevard in the Blue Zone.