The GCF did not agree to decisions on many issues at its 20th Board meeting, expressing its disappointment following four days of challenging and difficult negotiations.
The GCF Board Co-Chairs underscored their intention to reflect and ensure that the next meeting, taking place from 23-26 October 2018, is able to be more productive to support climate action.
Co-Chair Lennart Båge stressed the importance of not overlooking the important work achieved so far by the GCF by highlighting the existing 76 approved projects that constitute a portfolio of transformational activities.
GCF Executive Director Howard Bamsey announced that he is stepping down following almost two years in the role.
4 July 2018: The 20th meeting of the Board of the Green Climate Fund (GCF) suffered difficult negotiations and failed to come to agreement on several decisions which will need to be addressed at the next Board meeting.
The meeting took place in Songdo, Republic of Korea, from 1-4 July 2018. Noting that “positive decisions were made on important issues, such as a financial plan to manage the Commitment Authority of the Fund as it approaches replenishment,” the GCF, in its post-meeting press release, described the meeting as “challenging and difficult,” underscoring that the discussions over the four days did not result in agreement on several issues on the agenda, including matters relating to replenishment, approval of funding proposals and the accreditation of new partners.
The 21st meeting of the GCF Board will convene in Songdo from 23-26 October 2018.
In the absence of developing country Co-Chair Paul Oquist, the Board meeting was chaired by developed country Co-Chair Lennart Båge, who outlined his disappointment in the outcome of the meeting, noting the importance of the Fund for the most vulnerable to climate change impacts who depend on the activities of the Fund, also expressing his “regret” to the observer organisations, Accredited Entities and other stakeholders that had traveled to Songdo to take part in the Board meeting.
Although the meeting did not approve any new projects, Båge stressed the importance of not overlooking the existing 76 approved projects that constitute a portfolio of transformational activities, many of which are already being implemented in developing countries. He underscored that the Co-Chairs would reflect on what had taken place, “with the aspiration to ensure that our next meeting is more productive and that we reach our vision to operate as one Board, acting together in support of climate action.”
GCF Executive Director Howard Bamsey also announced that he was stepping down, after almost two years in the role. Båge expressed his gratitude to the outgoing Executive Director, stating that Bamsey’s “dedication and commitment has been instrumental in speeding up the implementation of the GCF portfolio,” pointing specifically to 30 projects worth US$1.4 billion under implementation in support of climate action in developing countries.