Climate change impacting biodiversity, threatening development of traditional medicine
March 25, 2023Affordable and Clean Energy: A choice or a must for Africa?
March 29, 2023Niamey, Niger: February 26, 2023
Organised by PACJA, Care International and Germanwatch, the meeting took place on February 25, 2023 in Niamey, Niger, on the side-lines of the 9th Africa Regional Forum on Sustainable Development (ARFSD-IX).
The reflections aimed to draw joint recommendations for improving the quality of GCF-funded programs in Africa, as well as the transparency and accountability of the GCF processes and Projects.
Disappointed by the first replenishment period under which the GCF underperformed in climate funding mobilized, inaccessible funding mechanisms by poor and less developed countries, extremely low trickle-down of funding to frontline communities and widespread inaccessible information that compromised on accountability.
The GCF has had an initial resource mobilisation (IRM) and a first replenishment (GCF-1). The IRM in 2014 raised USD10.3 billion in pledges. Of that amount, USD8.3 billion were confirmed and finally USD7.2 billion were available for commitment during the IRM period, after accounting for changes in exchange rates. GCF-1 had raised, as of August 2022, USD 10 billion in pledges, with over 70 percent of contributors increasing their pledges in national currency compared to the IRM period, and half of the contributors having doubled their pledges or more. Notably, the United States of America did not pledge any contributions to the GCF for its first replenishment. 100% of the pledges made for GCF-1 were confirmed amounting to USD 9.87billion equivalent
Concerned about the parameters of consideration by GCF in capacity assessment processes which constrain access to funding to local institutions, including community owned entities, creating dependence on international intermediaries and limit locally-developed solutions in adaptation. Read More/Download here
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