29 October 2019
GCF Receives USD 9.776 Billion in Pledges from 27 Countries
Photo by IISD/ENB | Sean Wu
story highlights

Pledges from 27 countries contributed USD 9.776 billion to the GCF’s first replenishment.

Of these, 13 countries doubled or more than doubled their pledges from the Fund’s initial resource mobilization.

The top contributors are the UK, France, Germany, Japan and Sweden.

25 October 2019: A dedicated conference has resulted in 27 countries presenting pledges to replenish the Green Climate Fund (GCF) by USD 9.776 billion for the next four years. The resources will help developing countries reduce greenhouse gas (GHG) emissions and adapt to the negative impacts of climate change.

Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hungary, Iceland, Ireland, Italy, Japan, the Republic of Korea, Liechtenstein, Luxembourg, Monaco, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and the UK pledged resources to the Fund. Of these, 13 countries (Denmark, France, Germany, Iceland, Ireland, the Republic of Korea, Luxembourg, Monaco, New Zealand, Norway, Poland, Sweden and the UK) doubled or more than doubled their pledges from the Fund’s initial resource mobilization. The top contributors are the UK, France, Germany, Japan and Sweden.

While the GCF will continue receiving contributions through the end of 2023, the amount pledged in Paris already exceeds the USD 9.3 billion announced at the Fund’s previous pledging conference in 2014. As an SDG Knowledge Hub policy brief notes, developed countries’ GCF funding support will contribute to their larger collective commitment to mobilize USD 100 billion per year in climate finance starting in 2020.

Speaking on behalf of France who hosted the conference, Bruno Le Maire, Minister of the Economy and Finance, France, emphasized that a “well-resourced Fund is a prerequisite for translating the 2015 Paris Agreement goals into concrete actions and helping developing countries to make their economies greener and more resilient.”

In a video statement, UN Secretary-General António Guterres called on conference participants to “provide significant resources,” noting that an “ambitious replenishment will enable the Fund to continue to promote adaptation, resilience and carbon-neutral development in developing countries.”

The GCF is an operating entity of the Financial Mechanism of the UNFCCC and the Paris Agreement and a key multilateral funding source to support the flow of “adequate and predictable financial resources” towards investments in low-emission and climate-resilient development.

Convening ahead of the Santiago Climate Change Conference, the pledging conference for the GCF’s first replenishment took place in Paris, France, from 24-25 October 2019. [GCF Press Release] [Summary Pledge Table] [UN Secretary-General’s Statement] [SDG Knowledge Hub Story on GCF Pledges during UN Climate Action Summit]

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