The executive director of the Green Climate Fund is driving the organization to ramp up its efforts in delivering climate finance, particularly for the world’s most vulnerable nations.
Since its establishment in 2010, GCF has committed approximately $16 billion across 130 countries, positioning itself as the world’s largest climate fund. And since taking office last year, Mafalda Duarte has announced the ambitious “50 by 30” plan, which is to manage $50 billion by 2030.
“We need to set ambitious targets because we are in a crisis, and the scale of the resources has to be many times higher than what we are currently supporting developing countries with,” Duarte said at a Devex event on the sidelines of the United Nations General Assembly in New York.