Global Environment Facility’s Post

🇪🇺🌏 The Global Centre for Climate Mobility (GCCM) values the positive discussions held with Ambassador Barbara Plinkert during #PIFLM52, which underscored the EU's commitment to supporting climate action in the Pacific. Building on this positive engagement, the GCCM is encouraged by the EU's recognition of the critical need for prompt financial assistance to frontline communities, which are confronting the existential threats of sea-level rise and other adverse climate impacts. The establishment of the Pacific Island Communities Climate Fund marks a significant step forward in this endeavor. By focusing on enhancing adaptive capacities and resilience, the Fund is poised to play a crucial role in mitigating the effects of climate-induced losses and damages.

As COP28 approaches and international conversations about #LossAndDamage funding continue, our allies at the Climate Justice Resilience Fund have published a report detailing lessons they've learned from their own recent Loss and Damage funding.

Day two of the #Africaclimatesummit was marked by pledges of climate investment worth millions of dollars. The funds are expected to go towards ''green growth, mitigation and adaptation'' across the continent. #climatefinancing #climatechange #Africaclimatesummit

Weekend Read 📚 Financing for Sustainable Development Report 2024 by United Nations The report finds that financing challenges are at the heart of the crisis and imperil the SDGs and climate action. The window to rescue the SDGs and prevent a climate catastrophe is still open but closing rapidly. #sustainability #finance #sustainabledevelopment #climatechange #investing #economy #sdgs

Interesting: Australia's Lowy Institute recently published policy brief on the Green Climate Fund voices support for our second replenishment (FYI our pledging conference is this Thursday in Bonn - it will be livestreamed). The Brief proposes a handful of recommendations for how to revitalize the Fund, despite its relative youth (we only became operational in 2015). In the institute's view, to ensure GCF's funding is targeted to most vulnerable countries it should adopt a formula-based approach (based on countries needs and capacity), similar to the Global Environment Facility and MDBs, rather than its current approach which relies on the board’s capacity to adopt a balanced project approval process. What do you think? Thanks for the insights Georgia Hammersley, Melanie Pill, and Roland Rajah https://lnkd.in/gBTtKAwZ https://lnkd.in/gBVzPqZf

The Green Climate Fund (GCF) aids developing countries in transitioning to a climate-friendly economy and preparing for climate change effects. It provides various financial supports for climate projects. Germany, a key donor, has pledged to increase its contribution to the GCF, emphasizing its commitment to global climate action. #GreenClimateFund #ClimateAction #GlobalCooperation #ClimateFinance #Germany #ClimateChangeMitigation #ClimateChangeAdaptation https://lnkd.in/dE7MPJgM

Please share your thoughts on "impactful benefit sharing" in the comments!

In a recent meeting, countries agreed on key measures to provide funding for the most vulnerable nations facing the impacts of climate breakdown. This development is seen as a crucial step in fulfilling commitments made under the #parisagreement to support developing nations in dealing with the effects of climate change. The agreement outlines financial support for adaptation and mitigation efforts, as well as addressing loss and damage incurred due to climate impacts. It reflects a collaborative effort to address the disproportionate burden borne by the most vulnerable countries and signifies progress in global #climate finance discussions. The commitment is part of ongoing efforts to bolster international cooperation and assistance in the face of the escalating climate crisis. #lossndamagefund #funding https://lnkd.in/eBYDqKFe

The UN Transitional Committee Meeting on November 6 proposed a deal for the Loss and Damage Fund to be created under the World Bank... This UNCTAD publication succintly outlines a governance structure and design of what the fund may look like. Pradeep Mehta Sankalan Dey CUTS International UNCTAD UNFCCC UN COP28 UAE #climateresilience #climatefinance #lossanddamage #climateimpacts #environmentalpolicy

Should we as consumers also take responsibility for promoting the GHG emissions ? How we all as consumers, producers, and regulators can work together and take proportionate responsibility to minimize the footprints and contribute for the loss and damage fund to fast track the SDGs? UNCTAD and OECD highlights the challenges and way forward https://lnkd.in/eJV9VSRR