Despite challenges, Green Climate Fund is critical to global action
Environmental Investment Fund of Namibia
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Thomson Reuters Foundation
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Thomson Reuters Foundation
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‘The Board is united in our commitment to meet our USD 2.5 billion target.’
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A defining moment to unite the planet
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GCF to back energy ‘paradigm shift’
GCF deepens country engagement with Tonga
A series of strategic engagements with Tonga was held recent by GCF, including high-level government meetings, stakeholder workshops, meetings with Accredited Entities and field visits to potential projects. These engagements were meant to help strengthen alignment of Tonga’s existing country programme, discuss project pipeline and readiness priorities, and support the development of an integrated project pipeline in alignment with the draft GCF climate resilient infrastructure sector guidance. Tonga has been selected as a strategy mission country after the successful completion of its country programme and project pipeline.
Climate-resilient infrastructure consultation held to improve sector guidance
GCF held a consultation on its approach to climate-resilient infrastructure in Basel, Switzerland on 28 October. The consultation was held to inform stakeholders of and receive feedback on the sector guidance on climate-resilient infrastructure, ensuring that the approach is aligned with the market and that GCF invests in activities with the most impact. It also initiated partnerships for cooperation to promote climate-resilient solutions.
GCF signs integrity agreement with Attijariwafa Bank
Agreeing to cooperate and consult on integrity matters, the Independent Integrity Unit (IIU) of GCF signed a Memorandum of Understanding (MoU) with Attijariwafa Bank. The MoU covers information-sharing, joint investigations and collaborations, as well as capacity-building support with the Bank's Compliance Office. The MoU will complement Attijariwafa Bank's Accreditation Master Agreement (AMA), which is currently under negotiation. IIU is continuously working on its goal of establishing similar agreements with counterpart offices of all Accredited Entities as a means of ensuring the safeguarding of GCF resources.
GCF strengthens private sector push in agreement with Proparco
GCF has enhanced its ability to tap financing from the business world with the recent signing of an Accreditation Master Agreement (AMA) with Proparco, the private sector arm of the development agency of France. The AMA sets the legal framework for Proparco to begin proposing and implementing climate finance projects in developing countries as a GCF Accredited Entity. Proparco plays a pivotal role in the Choose Africa initiative, launched earlier this year by French President Emmanuel Macron to encourage EUR 2.5 billion of investment in SMEs in Africa.
Learn about GCF’s REDD+ support during June webinars
GCF will host the first of a series of REDD+ webinars on 19 and 20 June to provide information about the Fund’s support for this financing method which reduces greenhouse gases while also protecting and restoring forests. Intended for both seasoned REDD+ practitioners and those new to REDD+, the sessions will cover all three REDD+ phases - including GCF’s start in February to making Results-Based Payments to countries proven to have halted deforestation. Three separate webinars will be conducted in English, French and Spanish.
- Green Climate Fund Board commits an additional USD 407.8 million to combat climate crisis
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- Green Climate Fund Board approves USD 267 million for climate action, agrees decision-making procedures
- Adaptation Fund, Green Climate Fund Convene First Community of Practice Meeting of Direct Access Entities to Climate Finance