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.

What next for the Green Climate Fund?

GCF  board meets in Korea to discuss how it will leverage billions in private funds. The Private Sector Facility (PSF), widely regarded as one of the innovative features of the Fund, has started to take shape with the board confirming that private sector intermediaries can be accredited to deploy the Fund’s resources.Such entities, the Board decided, will have a choice of financial instruments that includes equity and guarantee instruments alongside grants and loans.
Advice and specific recommendations on two particularly innovative roles of the PSF were provided.
First,  the importance for ensuring the Fund supports the local private sector in developing countries, particularly small and medium sized enterprises (SMEs) for both mitigation and adaptation activities.
 The other potentially innovative role for the PSF is on mobilising funds at scale. Given the scale of the climate related investment challenge, accelerating the participation of institutional investors within the financing of countries’ mitigation and adaptation programmes was emphasised.  Read more at http://www.rtcc.org

IPCC chief: Rich nations must fund stabilization of climate

The chairman of the UN's Intergovernmental Panel on Climate Change (IPCC) R K Pachauri remains hopeful that the developed world would be more forthcoming once all countries provide their 'Intended Nationally Determined Contributions' (INDCs) or in other words a clear roadmap of their voluntary actions to fight the threat of climate change. Pachauri, who is also member of India's Prime Minister Council on Climate Change spoke on the course of action India should adopt to move to a low-carbon growth path, and the future of Green Climate Fund--meant to help developing countries in their mitigation and adaptation goals. Read more >>>
The Economic Times

$10 billion Green Climate Fund wants immunity from prosecution

UN-linked climate change fund intended to finance climate change projects around the world, is determined to win sweeping U.N.-style immunities from prosecutions for its global operations. If the GCF succeeds in its broader negotiations, not only billions but eventually trillions of dollars in climate funding activities could fall outside the scope of criminal and civilian legal actions, as well as outside examination, as the Fund, which currently holds $10 billion in funding and pledges, expands its ambitions. Read more >>>
Foxnews

Lima Call for Climate Action Puts World on Track to Paris 2015

UNFCCC in its press release says that a new 2015 agreement on climate change, that will harness action by all nations, took a further important step forward in Lima following two weeks of negotiations by over 190 countries. The Intended Nationally Determined Contributions (INDCs) will form the foundation for climate action post 2020 when the new agreement is set to come into effect. Countries also made significant progress in elevating adaptation onto the same level as action to cut and curb emissions. Read more >>>
UNFCCC