GCF’s second replenishment continues with first consultation meeting
The Green Climate Fund (GCF) has concluded the first consultation meeting (CM-1) for its replenishment that was conducted on 1-2 December 2022. Organised by the GCF Secretariat and chaired by the GCF Board Co-Chairs, the virtual meeting convened representatives of potential and existing contributor countries, Board members, the GCF Trustee, and observers (GCF active observers and secretariats of the UNFCCC, Adaptation Fund and CIF) to discuss details of GCF’s second replenishment.
Yannick Glemarec, GCF Executive Director reiterated the importance of replenishing GCF in his opening remarks. He said, “A well-resourced GCF is critical for more global climate action. Last year we programmed USD 3 billion. With a successful replenishment, we could programme USD 4.5 billion per year.”
Acknowledging the climate crisis urgency, he added “We are one of the fastest climate funds in the world in terms of programming large-scale projects (USD 250 million and more). Among our main objectives in the second replenishment period is to explore new ways of programming for smaller scale projects so that we can rapidly deliver climate finance for all types of projects.”
During the successful two-day meeting, participants discussed policies related to contributions, and other organisational and financial matters. The Secretariat presented the results of the Updated Strategic Plan for the second replenishment period (GCF-2) and an overview of GCF-1 results, and the Independent Evaluation Unit presented a review of the GCF Second Performance Review.
The meeting ended with an open invitation for hosts for the second consultation meeting and Germany formally announced that the pledging conference will be hosted in Bonn, Germany on October 5, 2023.
The GCF-2 process was launched in July 2022 by decision B.33/11 of the GCF Board. GCF-2 consists of a series of organisational and consultation meetings, starting with the Initial Organisational Meeting (IOM) in August 2022. The CM-1 meeting will be followed by the second consultation meeting (CM-2) in April 2023 and the pledging conference in October 2023.