Switzerland increases contribution to Green Climate Fund to strengthen climate protection in developing countries
Bern, 19.08.2020 - In a landmark decision in the fight against climate change, on 19 August 2020 the Federal Council approved a USD 150 million contribution to the Green Climate Fund (GCF) over the next four years. The GCF helps developing countries implement the United Nations Framework Convention on Climate Change by funding their efforts to reduce greenhouse gas emissions and adapt to climate change.
Four years after the establishment of the GCF, the Federal Council has decided to increase Switzerland's contribution for the fund's first replenishment. Having contributed USD 100 million for the 2015–2019 period, Switzerland will provide the GCF with a total of USD 150 million for 2020–2023 period. These funds are earmarked in the Dispatch on Switzerland's International Cooperation 2017–2020. With this contribution, the Federal Council is responding to the urgent need to address the growing challenges posed by climate change at global and national levels. Developing countries are particularly hard hit by the effects of climate change. The GCF has met the conditions set by Switzerland during the replenishment negotiations.
The GCF makes a critical contribution to efforts to promote low-emission and climate-resilient development in low-income countries. It is particularly responsive to the needs of countries that are most vulnerable to climate change, such as Mozambique and Bangladesh. The GCF invests in climate-compatible cities, low-emission and climate-resilient agriculture, forest protection, efforts to transform energy generation, access to clean energy sources and other climate protection measures. The GCF thereby helps to reduce greenhouse gas emissions, improve the livelihoods of people in partner countries and promote sustainable economic development. To date, the GCF has invested in more than 130 projects in over 100 countries. These projects are expected to benefit over 350 million people and permanently reduce global CO2 emissions by around 1.6 billion tonnes.
A priority organisation for Swiss international cooperation
The GCF is one of the 15 priority organisations for Switzerland's multilateral development cooperation. Combating climate change and its effects is one of the four thematic priorities of the Federal Council's Dispatch on Switzerland's Strategy for International Cooperation 2021–2024. With this contribution, Switzerland is not only providing financial resources but also expertise and technical solutions for climate change mitigation and adaptation in low-income countries. Within the GCF, Switzerland advocates for project activities to address the needs of the poorest and most vulnerable population groups – including women and children – and for cooperation with the private sector to be strengthened. Switzerland contributed USD 100 million to the GCF's initial capitalisation for the 2015–2019 period.
Switzerland's support for the GCF is part of its contribution to international climate financing. Switzerland is thus fulfilling its obligation under the United Nations Framework Convention on Climate Change and the Paris Agreement to provide climate mitigation funds for low-income countries, and is thereby also contributing to the implementation of the 2030 Agenda.
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