Green Climate Fund Board In Liberia

By Alex Yomah
In the wake of the Climate Change threats in Liberia, members from the Green Climate Fund (GCF), and the Liberian government convened a three day-meeting for the formal meeting of the Board in Liberia- aimed at strategizing way out to pump money in Liberia.
The planned meeting among other discussions was geared towards targeting West Point and Hotel Africa as well as its coastlines and among other developments.
The Green Climate Fund is a global fund created to support the efforts of developing countries to respond to the challenges to climate Change. The Fund is a platform that allows investment in low-emission and Climate-resilient development, which helps countries reduce their greenhouse gas emissions and adapt to climate Change.
Declaring the meeting open at the Farmington Hotel yesterday, the government through Minister of Finance and Development, Samuel Tweah, expressed hosting the three-day, informal Board meeting in Liberia worth appreciation.
In his opening address to participants yesterday, Minister Tweah said, “Protecting our planet now is not a choice but a mandate for this generation. As such, all governments, from both developed and developing countries, must harness resources through the Green Climate Fund to promote low carbon economies and climate resilient development,” Minister Tweah told the gathering.
He intimated that the 24-member GCF Board, consisting equally of developing and developed country representatives, is meeting to progress the Fund’s strategic vision, priorities and plan for the next four years, to support countries’ efforts to combat the climate crisis and achieve their Paris Agreement goals.
Speaking on behalf of GCF, Nauman Bashir Bhatti of Pakistan, who takes over the reins as a new GCF Board Co-Chair this year, said: “As a country-driven organisation, GCF must ensure it responds effectively to the needs and priorities of developing countries, and align its stakeholders’ engagements, portfolio, and financing accordingly. The review of the Strategic Plan will be taking this into consideration.
For her part, Sue Szabo, new Co-Chair from Canada, said: “This week’s meeting is taking place at a critical time for the Fund. A successful replenishment in 2019 means GCF must enhance its strategy to dramatically scale-up its programming and reach more vulnerable people, communities and countries with flexible and innovative solutions,” she said.
Nathaniel Blama Sr., Executive Director of the Environmental Protection Agency of Liberia, said: “In the wake of advancing GCF’s Strategic Plan, the meeting in Liberia this week offers an opportunity for the Fund to understand the depth of the threats posed by climate change on developing countries and the need to provide resources faster,” he said.
Mr. Blama said Liberia is particularly vulnerable to the negative effects of climate change. With 560-kilometres of coastline and 70% of the population living in coastal cities, sea level rise and erosion both pose significant threats to the country. Of GCF’s total approved funds of USD 5.6 billion, nearly 40 percent, or 2.2 billion, has been directed to African countries to support approximately 50 projects.
While expressing his gratitude to the Liberian Government for hosting the board meeting, Yannick Glemarec, GCF Executive Director, said, “The burgeoning demand for climate finance reflects the high ambitions shared by many developing countries to scale up climate action and the urgent need to do so. I’m confident this meeting will help refine the Fund’s strategy to finance transformative initiatives with life-changing potential.”
Background:
Established by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, the Green Climate Fund plays a crucial role in serving the Paris Agreement goal of keeping global temperature rise well below 2 degrees Celsius. GCF is equally interested in funding adaptation and mitigation initiatives and aligns its project financing with developing countries’ Nationally Determined Contributions and adaptation plans. To date, the GCF Board has approved 124 projects in 105 countries, with the potential to prevent 1.6 billion tonnes of C02 emissions equivalent and increase the resilience of 348 million people. In addition, the Fund supports capacity-building “readiness” programmes targeted to 141 countries.