Switzerland provides funding to the Green Climate Fund

Bern, Press release, 28.11.2014

Switzerland has reinforced its commitment to climate protection in developing countries as part of international cooperation. The Federal Council today decided to contribute USD 100 million to the initial capitalization of the Green Climate Fund (GCF).

they often lack the means to invest adequately in climate protection measures. The new Green Climate Fund (GCF) helps them respond to the varied challenges of climate change by financing activities to reduce greenhouse gas emissions and adapt to climate change, working closely with public and private stakeholders alike in developing countries.

The Federal Council has decided to commit a financial contribution of USD 100 million (around CHF 95 million) to the GCF, drawn from the multilateral credit budget of the Swiss Agency for Development and Cooperation (SDC). This will take the form of grant contributions, disbursed over a three-year period from 2015 on. Switzerland's participation reflects the direct correlation between the fund's objectives and spheres of action and Switzerland's own strategy in international cooperation and the principles of its international environmental policy. In fact, one of Switzerland's priorities is to reduce global risks, such as climate change.

The financial contributions will enable the GCF to commence operations in 2015. At the Pledging Conference on 20 November 2014 in Berlin, several states, including Switzerland, announced pledges worth USD 9,3 billion.

Allocation of the Fund's resources is decided by the Board, comprised of representatives of both developed and developing countries. As a member of the Board since 2012, Switzerland can exercise its influence on the GCF's decisions. In particular, it seeks to promote low-emission energy production, reduce greenhouse gas emissions from deforestation and the destruction of the tropical rainforests, and protect vulnerable population groups and developing countries from climate-related natural disasters. Switzerland is committed to ensuring close cooperation between the Fund and the private sector and stakeholders in the climate sector and also an effective and efficient utilisation of resources.

 

The Green Climate Fund in brief
The Green Climate Fund (GCF) was conceived during the 2010 UN Climate Change Conference in Cancun, where the parties to the UN Framework Convention on Climate Change (UNFCCC) decided to establish a new global climate fund. The purpose of the GCF is to assist developing countries with implementation of the UNFCCC. Specifically, it finances climate-policy measures in developing countries so as to promote the shift towards low-emission and climate-resilient development. It does so with equal regard for the mitigation of greenhouse gas emissions and adaptation to the inevitable impacts of climate change.

The GCF is currently still in the start-up phase. The first round of funding will create the basis for it to commence operations in 2015. The first four-year programme phase continues until 2018. A replenishment process will be launched in the future to prevent it from running out of funds after 2018.

The GCF has a non-permanent Board of 24 members, with equal representation from developed and developing countries, and an Independent Secretariat based in Songdo (South Korea). Switzerland has shared a seat on the Board with Russia since 2012, enabling it to exercise influence on the fund's structure and allocation of financing.


Address for enquiries:

Daniel Birchmeier,
Head of Multilateral Cooperation
SECO
Tel. 058 464 08 19,
daniel.birchmeier@seco.admin.ch

Anton Hilber,
Head of Climate Global Programme
SDC
Tel. 058 462 03 14,
anton.hilber@eda.admin.ch

Stefan Schwager,
Head of International Environmental Financing
FOEN
Tel. 058 462 69 56,
Mobile 079 828 46 05
stefan.schwager@bafu.admin.ch


Publisher:

The Federal Council
Federal Department of Economic Affairs, Education and Research
Federal Department of Foreign Affairs
Federal Department of the Environment, Transport, Energy and Communications