France hails "step forward" on Green Climate Fund
Climate disruption – Joint communiqué issued by the Ministry of Foreign Affairs and International Development, the Ministry of Ecology, Sustainable Development and Energy and the Ministry of Finance and Public Accounts
Paris, 27 May 2014
In South Korea on 21 May, the member countries of the Board of the Green Climate Fund – the main international tool for financing the fight against climate change in developing countries – concluded preliminary work on its initial capitalization.
Laurent Fabius, Minister of Foreign Affairs and International Development, Ségolène Royal, Minister of Ecology, Sustainable Development and Energy, Michel Sapin, Minister of Finance and Public Accounts, and Mme Annick Girardin, Minister of State for Development and Francophony, welcome this step forward enabling the launch of the Fund’s capitalization process, which should conclude before the end of 2014. France will provide its contribution and calls on its partners to do the same.
The Fund’s capitalization will make it possible to speed up the financing of projects for reducing greenhouse gas emissions and to adapting to the impact of climate disruption, particularly in the most vulnerable countries.
The launch of the Green Climate Fund is an important step towards the mobilization of $100 billion per year between now and 2020, from public and private funds, to help developing countries in their transitions to resilient, low-carbon economies. It sends a very positive signal with a view to the adoption, in Paris in 2015, of an agreement on the climate./.