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orm of loans instead we re being asked to change the policy environment divert our domestic resources away from the goal and even contribute to the goal said the indian negotiator these are huge concerns for developing countries the g77 group advocated for the inclusion of loss and damage finance in the ncqg as the previous 100 billion goal covered only adaptation and mitigation as well as pressing for funding to be delivered through public finance in a grants based or concessional manner green climate fund restructures aiming to become donors partner of choice developed countries meanwhile held their ground and insisted that some developing nations should also pay up for the new goal with the uk s negotiator saying it cannot be argued the world has not changed since climate negotiations started in 1992 when the current country groupings were defined global north governments also defended the role of private finance in the ncqg with new zealand claiming that since trillions of dollars will be required w e need to be speaking the same language and to do that we need structural transformation which can only happen by including the private sector silence on finance climate finance experts following the talks criticised developed countries for acting in bad faith accusing them in the can statement of being silent on future climate finance just weeks before cop29 and after three years of process and engagements we don t even have an inkling of what developed countries will bring to the table for the ncqg said liane schalatek associate director of the heinrich böll foundation washington campaigners noted the time constraints as cop29 approaches fast and expressed concern that ministers have been left with too many issues to resolve it is shameful how developed countries have been undermining these finance negotiations with less than two months to go until cop29 they should be scaling up their ambition and delivering their fair share of public finance through grants said mariana paoli global advocacy lead at christian aid if we get a weak finance outcome at cop29 it will be their fault and devastating for communities in the global south she added reporting by sebastián rodríguez editing by megan rowling the post slow progress in baku risks derailing talks on new climate finance goal at cop29 appeared first on climate home news green climate fund restructures aiming to become donors partner of choice https www climatechangenews com 2024 09 09 hold gcf restructures aiming to become donors partner of choice mon 09 sep 2024 08 00 03 0000 https www climatechangenews com p 52828 gcf chief mafalda duarte tells climate home how she plans to boost the fund s impact and position it to secure more resources the post green climate fund restructures aiming to become donors partner of choice appeared first on climate home news since the green climate fund gcf approved its first eight projects just before the paris agreement was sealed in 2015 its investments to curb emissions and adapt to climate change in developing countries have grown to 15 billion across 270 projects mafalda duarte the portuguese climate finance specialist who heads the fund s south korea based secretariat says that after her first year in the job she s still discovering gems in the portfolio the gcf is delivering many interesting things that are actually not known she told climate home from its large equity investments that support entrepreneurs to a pioneering green credit guarantee company and a blended finance platform to lend to local governments because we haven t placed enough focus on impact and assessing the impact and assessing results we are not able to have that information and communicate it she said in an exclusive interview setting out her plans to thrust the world s biggest multilateral climate fund into the spotlight with the launch of a new organisational strategy operations at the gcf s head office in the city of songdo are being overhauled to better track the benefits of its support for people on the frontlines of the climate crisis to strengthen its investment partnerships and to offer a more efficient service to the organisations that deploy its money on the ground the fund now has a network of around 250 partners ranging from large un agencies to environment ministries banks and green ngos that are implementing climate programmes in some 130 countries mainly in the global south cheaper and faster ever since the gcf set up under the un climate process started operating about a decade ago a key ask from these partners has been reducing the costs and the time it takes to do business with the fund especially those based in the poorest countries with limited administrative capacity that is always the primary topic of debate noted duarte who previously ran the multilateral climate investment funds it s an issue the gcf has made some progress in addressing it now takes a median of four and a half months from getting a project approved by the board to the first pay out of cash for the work to start down from 14 months in 2022 un climate chief calls for exponential changes to boost investment in africa this july the fund set a new record with a locally led adaptation project for mountain farmers in bhutan and another to strengthen watershed ecosystem management and food security in malawi receiving money 15 days after being greenlit by the board duarte told climate home the fund is now looking at whittling down the period from a project s concept note to its approval from over two years to nine months by next year speeding up the project process is one pillar of the executive director s new vision which she launched last september during the un climate ambition summit in new york just weeks after starting the job 50 by 30 vision dubbed 50 by 30 the strategy aims to enable the gcf to efficiently manage 50 billion by 2030 since 2014 the fund has secured total pledges of 33 1 billion of which it has so far received 18 5 billion other key goals of duarte s vision include boosting help for the most vulnerable countries like somalia increasing participation by the private sector and shifting emphasis from one off projects to programmes that secure wider change i think there was a general understanding in the organisation that there was a need for change and for reform its executive director told climate home when duarte took over the gcf was merging from a rocky few years under previous management which led to whistleblowers exposing a range of problems from a lack of integrity in vetting projects to a toxic workplace culture marred by sexism and racism the fund responded by strengthening its internal procedures for handling grievances in somalia green climate fund tests new approach for left out communities with those problems behind it the gcf is now concentrating on getting more bang for its buck at the community level where climate finance needs are rising fast in line with the effects of extreme weather and rising seas to that end the fund is reorganising its 300 staff into four regional teams covering africa asia pacific latin america and the caribbean and eastern europe the middle east and central asia which will offer an integrated service to countries from programme design to delivery gcf executive director mafalda duarte right visits a gcf supported coffee farm in kenya september 2023 photo green climate fund andy ball from this month 14 management level hires are coming on board to lead duarte s twin drives to deliver greater real world impact and win more co investment from the private sector it s an approach she said that s needed to position the gcf as a partner of choice in a troubled world where international climate funds must compete for scarce resources from donor governments juggling multiple pressures with the geopolitical context that we are facing globally unless we see some shifts it s a challenging task to mobilise significant money said duarte bigger share of cop29 badges for global south ngos upsets rich country groups she has ideas for how to do that whether it s working more strategically with philanthropies like the rockefeller foundation or securing a share of new global climate levies being considered on activities such as fossil fuel production aviation and financial trading what i do want is gcf to be an institution that can deliver at scale efficiently and with impact so that it becomes clear that it s a key mechanism to deliver resources whether they come from those new fiscal tools or they continue to come from state budgets duarte said the gcf estimates that its projects to date will help 1 billion people become more resilient to climate change and avoid emissions equivalent to 3 billion tonnes of carbon dioxide trump risk for its second replenishment in 2023 the green climate fund secured commitments of 12 8 billion from predominantly wealthy governments its largest fundraising round to date but that includes 3 billion from the united states which has yet to deliver 1 billion of an earlier 3 billion pledge the white house struggles to persuade a republican led congress to stump up money for the gcf at the best of times but should donald trump be elected as its next inhabitant in november all bets are off during his first stint as president the climate sceptic republican criticised the gcf harshly and delivered nothing duarte admits the outcome of the us election could be a threat to the gcf s bank balance and stressed the importance of being prepared for any donors ducking their promises it is a risk it is a risk that we have seen before as well and to be honest it s a risk that i don t know if we will not see more of given political dynamics she added donor priorities that means duarte s new management team have a major task on their hands to persuade both existing contributors and new ones which could include richer emerging economies private foundations or venture capitalists to pour billions more into its coffers this decade its boss argues that wealthy governments should raise their ambition in backing the gcf but believes the onus is on the climate community to show why putting money into efforts to cut planet heating emissions and protect people from global warming in vulnerable parts of the world is a wise investment there are significant macroeconomic and geopolitical constraints that countries are facing but we also know that they mobilise funding for what they consider to be priorities duarte said so i think the goal is for all of us to continue to make the case that climate needs to be more of a priority when countries think of allocating public resources reporting by megan rowling editing by matteo civillini this article was updated after publication to clarify comments on the us election philanthropies and gcf disbursement timing the post green climate fund restructures aiming to become donors partner of choice appeared first on climate home news bigger share of cop29 badges for global south ngos upsets rich country groups https www climatechangenews com 2024 09 06 bigger share of cop29 badges for global south ngos upsets rich country groups fri 06 sep 2024 14 29 25 0000 https www climatechangenews com p 52846 the unfccc has changed quota allocations for observers in a bid to address imbalance in regional representation the post bigger share of cop29 badges for global south ngos upsets rich country groups appeared first on climate home news the un climate change body said this week it is giving a larger share of attendance badges for cop29 to non governmental organisations ngos from developing countries in a bid for more diverse voices at the annual climate summit the unfccc has tweaked the algorithm used to allocate badges to observer groups this year in response to requests from governments to address a long standing imbalance in the global representation of participants from civil society academia and indigenous communities attendees from rich industrialised countries have historically formed the biggest contingent of observers at the cop climate summits half of all observers at cop28 in dubai last year hailed from a bloc of western european nations the us canada and australia even though countries in that group represent only 12 of the world s population unfccc executive secretary simon stiell wrote this week in a foreword to a handbook for observers that we need the cop process and participation to reflect the fact that the climate crisis is hitting communities in every part of the world campaigners in the global south have welcomed the reforms while some green groups in the global north quietly expressed surprise and disappointment over hefty cuts to their allocated quotas and the way the changes have been implemented mohamed adow director of nairobi based think tank power shift africa said finally we are getting a fairer distribution of observer badges it s only right that people from countries that are most vulnerable to the climate crisis are able to attend the meetings that are supposed to address their needs he added for too long the vast majority of cop badges have been held by people from a small part of the world but with disproportionately high emissions racquel moses is the ceo of the caribbean climate smart accelerator which aims to modernise infrastructure through supporting projects like a solar panel assembly facility in trinidad and tobago she told climate home her organisation usually gets three badges but this year received six in past years we had to rely on the generosity of other organisations for support with passes she said this year at cop we finally have the ability to be adequately represented stela herschmann said that climate observatory the brazilian think tank she works for has for the first time received a number of credentials close to what we requested she said that no matter how many badges we requested in previous years they only got one or two but this year they asked for eight and received seven i believe that this year we will see more global south involved in the negotiations herschmann said letter of complaint some global north groups however have been stunned by the scale of the changes and the impact on access to the climate summit for their staff climate home is aware of several climate organisations with a historically large presence at cops that have so far received just a handful of cop29 passes or in more extreme cases only one badge each joseph robertson is the head of the us based citizens climate international which trains volunteers to lobby their political representatives he leads a joint delegation with partner organisations which usually gets about 12 badges some of which it passes on to campaigners from the global south but this year it got just two badges and so has had to rethink its plans for the summit a spokesperson for the unfccc told climate home that the western european and others group was given 40 of the total number of observer ba...