GCF's first replenishment
GCF’s first replenishment (2020-2023) is an important element of the financial commitments needed to deliver the UNFCCC and its Paris Agreement. This first replenishment is part of a long-term vision for the Fund, building it up to become a major global instrument for channeling public climate finance to mobilise the larger shifts in global financial flows required to achieve the Paris Agreement goals.
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At its 33rd meeting in July 2022, the GCF Board launched the process for the Fund's second replenishment (GCF-2).
Process
The replenishment process has been structured around two consultation meetings – in Oslo, Norway, 4-5 April 2019 and Ottawa, Canada, 29-30 August 2019 – and a Pledging Conference on 24-25 October 2019, hosted in Paris, France. The Board appointed Mr Johannes F. Linn as the global facilitator to guide the replenishment process towards a successful outcome.
Documents consulted during the process
- Report on the implementation of the initial Strategic Plan of the GCF: 2015–2018
- Strategic Programming for the Green Climate Fund First Replenishment
- Update to the Policies for Contributions
- Minimum Contribution Applicable for Participation in the First Replenishment of the Green Climate Fund: Considerations for Contributing Participants (prepared by the Trustee)
- Reference Exchange Rates for Use in the Green Climate Fund Replenishment (prepared by the Trustee)
- Summation by the Global Facilitator – First Replenishment of the Green Climate Fund First Consultation Meeting
Contributions
The twenty-fourth meeting of GCF Board (B.24) welcomed the successful conclusion of the first formal replenishment process of GCF. Pledges have been made by 31 contributors totaling USD 9.9 billion equivalent. The amount pledged exceeds the USD 9.3 billion announced at the Fund's previous pledging conference in 2014, even though some contributors have yet to pledge.
As of 19 August 2022, 34 contributors have pledged USD 10 billion for GCF-1. Over 70 percent of contributors have increased their pledges in national currency compared to the Initial Resource Mobilization period, and half of the contributors have doubled their pledges or more. All 34 contributors have confirmed 100 percent of their pledges and signed contribution agreements/arrangements, amounting to USD 9.87 billion equivalent in nominal terms.
| Contributor | Announced | Credits | Confirmed | Announced per capita |
Emissions per capita |
|---|---|---|---|---|---|
| Austria | $146.41 M | $6.11 M | $146.41 M | $16.49 | 6.90 |
| Belgium 1 | $112.62 M | $4.27 M | $112.62 M | $9.85 | 8.30 |
| Bulgaria | $0.08 M | < $0.01 M | $0.08 M | $0.01 | 5.9 |
| Canada | $225.53 M | $4.60 M | $225.53 M | $6.09 | 15.20 |
| Denmark 1 | $120.69 M | $5.30 M | $120.69 M | $20.82 | 5.90 |
| Finland | $112.62 M | $2.27 M | $112.62 M | $20.41 | 8.70 |
| France 1 | $1,743.38 M | $51.37 M | $1,743.38 M | $25.7 | 4.50 |
| Germany | $1,689.32 M | $0.43 M | $1,689.32 M | $20.37 | 8.90 |
| Hungary | $0.70 M | $0.04 M | $0.70 M | $0.07 | 4.30 |
| Iceland | $2.80 M | $0.07 M | $2.80 M | $7.77 | 6.20 |
| Indonesia | $0.50 M | $0.02 M | 0.50 M | < $0.01 | 1.80 |
| Ireland | $18.02 M | $0.65 M | $18.02 M | $3.71 | 7.30 |
| Italy | $337.86 M | - | $337.86 M | $5.59 | 5.30 |
| Japan | $1,500.00 M | $21.25 M | $1,500.00 M | $11.85 | 9.50 |
| Liechtenstein | $0.25 M | $0.01 M | $0.25 M | $6.5 | 3.7 |
| Luxembourg | $45.05 M | $1.29 M | $45.05 M | $74.13 | 17.40 |
| Malta | $0.90 M | $0.02 M | $0.90 M | $1.7 | 3.3 |
| Monaco | $4.22 M | $0.17 M | $4.22 M | $109.18 | - |
| Netherlands 1 | $135.15 M | $4.91 M | $135.15 M | $7.84 | 9.90 |
| New Zealand | $10.05 M | $0.60 M | $10.05 M | $2.06 | 7.70 |
| Norway | $417.48 M | $16.67 M | $417.48 M | $78.56 | 9.30 |
| Poland | $3.00 M | $0.18 M | $3.00 M | $0.08 | 7.50 |
| Portugal | $1.13 M | $0.07 M | $1.13 M | $0.11 | 4.30 |
| Republic of Korea | $200.00 M | - | $200.00 M | $3.87 | 11.60 |
| Romania | $0.06 M | < $0.01 M | $0.06 M | < $0.01 M | 3.6 |
| Russian Federation | $10.00 M | $0.46 M | $10.0 M | $0.07 | 11.90 |
| Slovakia | $2.25 M | $0.06 M | $2.25 M | $0.41 | 5.70 |
| Slovenia | $1.13 M | $0.07 M | $1.13 M | $0.54 | 6.20 |
| Spain | $168.93 M | $7.55 M | $168.93 M | $3.62 | 5.00 |
| Sweden | $852.55 M | - | $852.55 M | $83.72 | 4.50 |
| Switzerland 1 | $150.00 M | $5.45 M | $150.00 M | $17.61 | 4.30 |
| United Kingdom | $1,851.88 M | - | $1,851.88 M | $27.85 | 6.50 |
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1 Subject to Parliamentary and Government approval. Notes:
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| Contributor | Announced | Credits | Confirmed | Announced per capita |
Emissions per capita |
|---|---|---|---|---|---|
| Brussels Capital Region (Belgium) | $1.13 M | $0.07 M | $1.13 M | $1.0 | 6.1 |
| Wallonia (Belgium) | $1.80 M | $0.06 M | $1.80 M | $0.49 | 2.4 |
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Notes:
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