South Korea: PACJA represents African CSOs at the Green Climate Fund Board Meeting

The Pan African Climate Justice Alliance represented the African civil society groups at the 33^rd Green Climate Fund Board meeting that held from July 17-20, 2022 in the Republic of Korea . The meeting held against the background of amounting calls by the African CSOs to have the process of accessing funds simplified.

During the meeting, the GCF Board announced that it has approved adaptation and mitigation project FP188 to build the resilience of fishing communities in the Gambia by restoring fishery ecosystems, climate-proofing critical infrastructure, and diversifying farming systems.

The GCF invests in low-emission and climate-resilient development to help vulnerable communities adapt to the impacts of climate change. Along with its global partners, GCF catalyses climate investments to facilitate climate adaptation and mitigation strategies in its efforts to achieve the goal of the Paris Agreement.

The Governing Instrument for the Green Climate Fund mandates the GCF to allocate funding towards adaptation, stating that GCF will strive to maximize the impact of its funding for adaptation and mitigation, and to seek a balance between the two, while promoting environmental, social and development co-benefits taking a gender-sensitive approach.

The GCF is the world’s largest multilateral climate fund, and under the 2015 Paris Agreement, it took on a central role in delivering finance to developing countries for adapting and transitioning to renewables.

During the GCF’s startup phase in 2014, developed nations collectively pledged $10bn to the fund. Under the administration of former President Barack Obama, the US gave $1bn, but his successor, President Donald Trump, refused to contribute.

The GCF board is made up of 24 board members and 24 alternate members, with 12 of each reserved for developed nations. Board seats for developed nations are allocated based on the amount of financial contribution.