In 2010, the UNFCCC Conference of the Parties (COP) agreed to establish the Green Climate Fund (GCF) as a global investment vehicle for climate finance. At the GCF High-Level Pledging Conference hosted by the German Federal Government on 20 November 2014 in Berlin, governments pledged a total of 9.3 billion USD to the Fund for its initial financing. More countries are expected to announce their pledges by the end of the year.
On the occasion of the GCF High-Level Pledging Conference SDSN Germany held a round table discussion with more than 60 representatives from civil society, business and academia. GCF Executive Director Héla Cheikhrouhou, GCF Civil Society Active Observer Meena Raman, GCF Private Sector Active Observer Abyd Karmali and several GCF Board Members attended the meeting.
Civil society, business and academic representatives taking part in the SDSN Germany round table generally welcomed the historic outcome of the Pledging Conference. At the same time, many argued that the current amount pledged to the GCF can indeed only be a starting point as climate mitigation and adaptation require larger funding from this and other sources. Participants also expressed their hope that the GCF Board will soon turn to operational questions of how to manage financial resources – there was a consensus that not just the size, but also the modalities and instruments of funding matter. Against this backdrop, participants highlighted the importance of bottom-up approaches to climate action that on the one hand have a mitigation impact and on the other hand improve the livelihoods of people most vulnerable to climate change. The link between climate action and poverty alleviation was strongly highlighted, and so was the need to foster low-carbon development pathways and lifestyles in all parts of the world. This is also reflected in SDSN Germany’s efforts to promote sustainable development as a basic principle in German politics, economy and society.
The SDSN Germany Secretariat is hosted by the German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE).
This article originally appear on the German Development Institute website.