The GCF high level side event today featured calls to action from developing countries, and encouragement to greater ambition for the GCF replenishment from Germany and Norway in particular. GCF's second official side event of this year’s COP focused on the Fund's achievements to date, and its ambitions for replenishment.
GCF Executive Director a.i. Javier Manzanares heralded GCF's record achievement in building a portfolio of 93 projects, worth USD 4.6 billion for climate action in 96 countries, whilst others emphasised the importance of GCF for the global fight against climate change. Teuea Toatu, Minister of Finance and Economic Development of Kiribati said that "GCF is the single most important fund," and that it is "the fund that vulnerable countries rely on for our survival." Bill Hare, CEO of Climate Analytics, meanwhile stressed that "realising the transformational goals of GCF will require major shifts in investment. In her intervention, Svenja Schulze, Minister of the Environment, Nature Conservation and Nuclear Safety of Germany, said that the country "stands by GCF and its goals. We are doubling our contribution, and we want to motivate other donors to do likewise."