Earth Today | GCF hosts first meeting of the year

THE GREEN Climate Fund (GCF) Board is hosting its first meeting of the year where agenda items include consideration of funding proposals.

The four-day meeting, which began Monday, considers funding proposals that, if approved, will increase GCF’s investment in developing country climate action beyond its current portfolio of US$10 billion.

The meeting is also to maintain GCF’s balanced financial support for measures that reduce emissions and enhance climate resilience.

VIRTUAL FORMAT

Other orders of business include reporting of activities by the secretariat and independent units, as well as by the board co-chairs, and board committees, panels and groups; guidance from the climate talks held last year; status of GCF resources, pipeline and portfolio performance; and evaluations by the Independent Evaluation Unit.

The continuing spread of COVID-19 means this 31st gathering of the GCF Board will follow the virtual format of recent meetings, according to a news release from the entity.

The 24 GCF Board members (and their alternates), who oversee GCF operations, are drawn equally from developed and developing countries. The GCF, meanwhile, is the world’s largest climate fund and is tasked to support developing countries achieve their Nationally Determined Contributions to greenhouse gas emissions that fuel climate change.