MADRID — The Green Climate Fund is entering a pivotal period that will test its ability to uphold a commitment from high-income countries to low-income countries: that they will have support in their efforts to tackle climate change.
With the Paris Agreement poised to enter its first critical year of implementation — and with carbon emissions and global temperatures continuing to rise — GCF occupies a central role in supporting national climate action plans. The fund secured a $9.7 billion replenishment in October and is now looking ahead to the adoption of a new strategic plan, expected to be approved by GCF’s board in March.
At the United Nations climate conference in Madrid, which came to a disappointing close on Sunday, GCF was in the spotlight, as the fund’s leaders, partners, and external observers weighed in on how to maximize the impact of a key piece of climate finance architecture as it moves into this new phase.