Interview with Mafalda Duarte, executive director, Green Climate Fund
For a greener world
What are the mission and vision of the Green Climate Fund? The Green Climate Fund is a key multilateral finance mechanism under the Paris Agreement and the United Nations Framework Convention on Climate Change, designed to help developing countries implement climate investments that align with mitigation and adaptation objectives. We are unique among funds. GCF was established to empower a broad ecosystem encompassing multilateral development banks, bilateral agencies, the private sector and civil society organisations, with a mandate
to operate on a larger scale, more efficiently and with greater impact. We are keenly focused on supporting the most vulnerable countries and communities, and using our unique position to catalyse substantial private-sector investments in developing countries. We are diligently refining our processes to enhance efficiency, as developing countries depend on us for rapid and reliable access to funding and implementation, without compromising quality. Our unique position enables us to bring together this network of partners for significant impact, whether at the country, regional or global level.
The Green Climate Fund is designed to help countries implement sustainable climate investments, but the investment need is significant. At Apulia, G7 leaders can help in numerous ways, from bolstering support for developing countries in mitigation and adaptation efforts to bridging the gaps in funding
to significantly boost these investments. We offer the unique advantages of scale and flexibility in our resources, grants and other instruments. At the United Nations Climate Ambition Summit last September, I presented my ‘50by30’ vision. We are working towards transforming our organisation
How much money is needed? Various estimates indicate the financial needs of developing countries. The High-Level Panel on Climate Finance recently identified a need for $2.4 trillion annually. Recent challenges, including
80
globalgovernanceproject.org
G7 ITALY: THE APULIA SUMMIT — 2024
Made with FlippingBook. PDF to flipbook with ease