It’s all about the finance! That was the plea from NGOs this morning at COP24, ahead of the high level Ministerial dialogue on climate finance.
Many delegates here are focusing on this issue, and GCF offered its vision of leveraging climate finance for country-driven transformation and catalytic investment during the session. Climate finance needs to be accurately targeted, and GCF also announced today a new partnership with the World Meteorological Organization (WMO) to strengthen the climate rationale within GCF's activities - making sure that there is a clear climate investment case for action is critical.
But where will the money come from? Well, some more positive signals today, as Norway joined Germany in announcing that it is planning to double its contribution to GCF during its replenishment: more welcome indications that contributors are committed to support an ambitious replenishment.