Tuesday, September 29, 2015

Héla Cheikhrouhou: the Green Climate Fund goal is to support low-emission, climate-resilient development

This statement was made by Executive Director of the Green Climate Fund in her speech, given on the occasion of World Water Week held in Stockholm, Sweden at the end of last month. GCF is the only international financing institution set up with the sole goal of supporting the UNFCCC’s objective of keeping global warming below 2 degrees Celsius.
GCF's ambitious mandate is to promote a paradigm shift to low-emission and climate-resilient development, taking into account the needs of developing countries that are particularly vulnerable to the impacts of climate change, 
Fund raised in 2014 some initial resources of about $10 billion equivalent in pledges from 35 countries – 60% of which have already been converted into signed contributions.   Objective of GCF’s truly innovative Private Sector Facility is to build partnerships with private corporations alongside public sector operations, in order to support water investments. Fund is currently  launching several pilot programmes with a total budget of $900 million to increase country ownership, support small- and medium-sized enterprises, and to mobilize funding at scale from the private sector. Read more at http://www.gcfund.org/