• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
  FEATURED
Historic Deal Reopens B.C. Indigenous Territory to Fracking, Promises Land Restoration March 19, 2023
Repsol Abandons Plan to Ship Canadian LNG to Europe March 17, 2023
Biden Approves $8B Oil Extraction Plan in Ecologically Sensitive Alaska March 14, 2023
U.S. Solar Developers Scramble after Silicon Valley Bank Collapse March 14, 2023
$30.9B Price Tag Makes Trans Mountain Pipeline a ‘Catastrophic Boondoggle’ March 14, 2023
Next
Prev

Developing Countries Look for More Money, Greater Efficiency as Green Climate Fund Goes for Replenishment

September 12, 2019
Reading time: 2 minutes
Full Story: Climate Home News @ClimateHome
Primary Author: Loren Legarda @loren_legarda

UNclimatechange/Flickr

UNclimatechange/Flickr

13
SHARES
 

The developing world will remember which rich countries kept their promises and which ones didn’t when it comes time to replenish the Green Climate Fund, the most important United Nations financing mechanism that will enable the majority of the world’s countries to reduce their greenhouse gas emissions and adapt to climate change impacts.

So says Loren Legarda, deputy speaker of the Philippine House of Representatives, who also serves as an alternate member of the GCF board representing the Asia Pacific region.

  • Concise headlines. Original content. Timely news and views from a select group of opinion leaders. Special extras.
  • Everything you need, nothing you don’t.
  • The Weekender: The climate news you need.
Subscribe

The issue is gaining momentum in the lead-up to 2020, the year in which the Fund was to receive a major cash infusion after an initial round of US$10.3 billion in incoming contributions and a corresponding flow of dollars for 111 projects.

“It is the year by which the developed countries committed to jointly mobilize US$100 billion in climate finance per year—a promise made way back in 2009, at the 15th UN climate talks (COP 15) held in Copenhagen,” Legarda recalls, then formalized a year later at COP 16 and reaffirmed in the 2015 Paris Agreement.

But a decade later, she writes for Climate Home News, “I beg to ask: Will the developed countries be able to keep their promise?”

As recently as 2016, the Organization for Economic Co-operation and Development calculated that developing countries were on track to meet their 2020 pledge (though there were serious questions at the time about the methodology). “The analysis, however, came out three years ago, and the global political landscape has changed since then,” Legarda writes, with Donald Trump pulling his country out of the Paris deal and climate-denying Australian Prime Minister Scott Morrison curtailing any future funds to the GCF.

Which is why all eyes are on replenishment negotiations that are already getting under way this fall. As that process unfolds, “developing countries remember those who stood by their words and delivered their commitments, in the same way that we will hold into account those who just stood by,” she declares. “We are making progress, but more needs to be done.”

The GCF will face heightened expectations with each passing year, “as developing countries further anticipate increased mobilization of climate finance,” Legarda writes. Beyond the basic issue of funding, “the GCF must urgently address the nuances and gaps in their financing policies, strategic direction, and investment criteria”, and boost its operational efficiency to maximize its impact in the countries it serves.



in Asia, Climate Impacts & Adaptation, Community Climate Finance, COP Conferences, Environmental Justice, International Agencies & Studies

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

EcoFlight
First Peoples

Historic Deal Reopens B.C. Indigenous Territory to Fracking, Promises Land Restoration

March 19, 2023
328
U.S. Bureau of Safety and Environmental Enforcement/flickr
Oil & Gas

Willow Oil Project in Alaska Faces Legal Challenges, Economic Doubts

March 19, 2023
75
Wikimedia Commons/Humans of Vanuatu
Ending Emissions

Six Countries Call for Fossil-Free Pacific

March 19, 2023
15

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

@davenewworld_2

Keystone Pipeline Safety Worries Lawmakers after TC Energy Ordered to Reduce Operating Pressure

March 19, 2023
77
U.S. Bureau of Safety and Environmental Enforcement/flickr

Willow Oil Project in Alaska Faces Legal Challenges, Economic Doubts

March 19, 2023
75
David Dodge, Green Energy Futures/flickr

U.S. Solar Developers Scramble after Silicon Valley Bank Collapse

March 14, 2023
538
EcoFlight

Historic Deal Reopens B.C. Indigenous Territory to Fracking, Promises Land Restoration

March 19, 2023
328
Environmental Defence Canada/flickr

Repsol Abandons Plan to Ship Canadian LNG to Europe

March 18, 2023
279
U.S. National Transportation Safety Board/flickr

$30.9B Price Tag Makes Trans Mountain Pipeline a ‘Catastrophic Boondoggle’

March 14, 2023
279

Recent Posts

Wikimedia Commons/Humans of Vanuatu

Six Countries Call for Fossil-Free Pacific

March 19, 2023
15
Wikipedia

Fossil Funding Makes Indigenous Resource Network a ‘Propaganda Machine’, Opponent Says

March 19, 2023
12
moerschy / Pixabay

Planetary Weight Study Shows Humans Taking Most of Earth’s Resources

March 19, 2023
10
U.S. Bureau of Land Management/flickr

Biden Approves $8B Oil Extraction Plan in Ecologically Sensitive Alaska

March 14, 2023
139
EcoAnalytics

Canadians Want Strong Emissions Cap Regulations, Not More Missed Targets

March 14, 2023
148
Behrat/Wikimedia Commons

Hawaii Firm Turns Home Water Heaters into Grid Batteries

March 14, 2023
495
Next Post
dunktanktechnician/flickr

Cut Energy Waste to Prevent Three New Gas Plants, Michigan Utility CEO Urges Consumers

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}