This past week, the board of the Green Climate Fund (GCF) met for the first time. This was an important milestone around the goal of increasing financial support to help developing countries mitigate and adapt to climate change. Expectations are high for the Fund, officially established at the 2011 Durban climate talks. It’s positioned to become the main global channel for climate finance, expected to reach $100 billion per year by 2020.
Sentiments from Last Week’s Meetings
There was an atmosphere of excitement at last week’s meetings in Geneva, which brought together a group of 24-countries and their alternates, charged with improving the mobilization of climate finance. The meeting itself focused largely on procedural actions, including the election of the two co-chairs.