The Prime Ministers of Jamaica and Norway convened Heads of State, Ministers, and representatives from over 40 developed and developing countries today for a meeting dedicated to the replenishment of the Green Climate Fund (GCF). The event showed a huge level of support for GCF, with a number of developed countries present indicating that they would be making ambitious pledges towards the replenishment at the UN Climate Action Summit taking place on 23 September.
The event, titled “An Urgent Call for Countries to Partner for Climate Change,” was co-hosted by Jamaican Prime Minister Andrew Holness and Norwegian Prime Minister Erna Solberg. Jamaica is playing a key role in the UN Climate Action Summit as one of the co-leads of the Climate Finance and Carbon Pricing Track, whilst Norway was the second country after Germany to announce a doubling of its contributions to the GCF at COP24 in December 2018. Participants included the President of the Republic of the Marshall Islands, the Prime Minister of St Lucia, as well as Ministers and guests including Patricia Espinosa, Executive Secretary of the UNFCCC.
Speaking at the event, Prime Minister Andrew Holness stated, “With a well replenished GCF, I believe investment and innovation in climate action will increase exponentially. I therefore implore our partners with the ability and resources to do so to place GCF in a position to support the huge increase in climate finance demand.”
Prime Minister Erna Solberg stated, “Norway is pleased to double its contribution to the Green Climate Fund. We have set a high level of ambition for the replenishment and we encourage others to match this. The Green Climate Fund is successfully supporting low-emission, climate-resilient transformation, and we are confident that a strong replenishment will enable GCF to increase its impact in the race against climate change.”
GCF Executive Director Yannick Glemarec said: “The leadership of Prime Minister Holness and Prime Minister Solberg is a welcome sign of global solidarity in response to the urgency of the climate crisis, and I thank them for convening this event in support of GCF’s replenishment.” Mr Glemarec continued: “The message from both developed and developing countries today is that an ambitious and successful replenishment of GCF is critical to climate action. With our partners, we are ready to step up on our support to developing countries to raise ambition and empower action.”
Speakers at the event stressed the need for global solidarity to support urgent climate action through the provision of climate finance for those countries most in need, such as Least Developed Countries (LDCs) and Small Island Developing States (SIDS). To date, GCF has allocated over USD 5 billion for climate action in 99 countries, as well as providing readiness support for capacity building to aid project planning and to facilitate access to climate finance.
GCF is currently seeking contributions for its first replenishment to strengthen its role as the world’s largest dedicated fund assisting developing countries address the climate challenge. Norway, Germany, the United Kingdom and France have so far announced a doubling of their initial contributions in national currency, with Canada maintaining their contribution The Pledging Conference hosted by France will be held in Paris from 24-25 October.
GCF is engaging in the United Nations High Level Week including the Climate Summit, which has brought together governments, the private sector, civil society, local authorities and other international organisations to reinforce commitments to protect people and planet.