GCF key to win the race against climate change: UN Secretary General welcomes GCF Executive Director a.i. in New York
In September this year the Secretary-General will be hosting the UN Climate Summit to increase ambition and strengthen political commitment to climate action. The Summit, taking place exactly one year before countries will have to revise their national climate pledges under the Paris Agreement, will bring together world leaders and representatives from governments, business, and civil society.
Due to its unique role in the climate finance framework, GCF is well positioned to operationalise the ambition of the Climate Summit. In the coming months, GCF will be cooperating with the UN and providing input on the various thematic tracks featuring in the Summit, ranging from climate finance to energy transition, resilience and adaptation.
The Summit will take place ahead of a pledging conference later in the year that will mark the culmination of the replenishment process launched by GCF’s Board in October 2018. The pledging conference will provide an opportunity for developed countries to reinforce global solidarity with nations and communities most at risk from the disastrous effects of climate change.
The replenishment was launched following the successful start of the GCF’s operations, and the Fund’s UN partners are playing a significant role in delivering ambitious results. To date, GCF has allocated a total of USD 4.6 billion of climate finance to 93 projects across nearly 100 developing countries, focusing on both mitigation and adaptation. The Fund is closely working with its UN partners who are delivering 26 projects with the total value of USD 1.7 billion through a range of financial tools. Eighteen of these projects are already being implemented, bringing real change to communities in the most vulnerable countries.