The Green Climate Fund, striving to be fully operational by the Paris climate summit in December, missed its "effectiveness date" at the end of April, an important deadline giving the Fund the authority to begin making funding commitments. This analysis provides a status update on what the Fund needs to not only "open for business" soon, but also move lastingly beyond "business as usual."
This briefing, part of the HBF-Overseas Development Institute (ODI) briefing series Climate Finance Fundamentals, provides an up-to-date summary of the status of operationalization of the GCF after its last Board meeting in Barbados several weeks ago as contributor countries prepare to confirm significant resources for the new Fund at the first GCF Pledge Meeting in Berlin. By Liane Schalatek, HBF, and Smita Nakhooda, ODI.
By some counts no less than eight distinct climate finance decisions are expected at COP 17 in Durban, making the climate finance cluster one of the most crucial ones to address in South Africa. Solving the complex web of interlocking climate finance decisions in Durban also holds the key to unlocking progress in other areas, as this commentary explains.