GCF Replenishment: A marker of global commitment to SIDS
Comprehensive climate action depends on substantial monetary resources. For developing states, which are least responsible but most vulnerable to current and projected climate impacts, the Green Climate Fund (GCF) is critical for us to meet our obligations under the Paris Agreement. The multilateral climate fund is both a critical source of funding for climate action and the largest provider of technical and institutional support and training. To-date, the Fund has been the most effective mechanism available to our membership to tackle climate impacts.
Small island developing states are especially dependent on the GCF’s unique capabilities to act decisively. Collectively, SIDS are over a fifth (21) of the Fund’s 109 priority countries. In its brief existence, the Fund has mobilized US$5 billion for climate action in nearly 100 countries, which will avert 1.5 billion tonnes of CO2 and help more than 310 million people thrive. At this critical stage when nearly all of the Fund’s resources has been exhausted, we urge our partners to enhance and safeguard the most effective mechanism for meaningful climate action. AOSIS remains optimistic that our partners are as deeply committed to securing a 1.5-world and strongly considers the success of the GCF’s second Replenishment Pledging Conference in Paris on October 24 to 25 as a marker of global commitment to our survival and global environmental integrity.