France takes on the co-presidency of the Green Climate Fund for the first time

12th April 2021 by Emma Goring

France will take over in 2021, ahead of COP 26, the co-presidency of the Green Climate Fund.

Financial instrument of the Paris Agreement and the main international fund for financing the fight against climate change, the Green Climate Fund has to date more than $ 30 billion in commitments, of which 8.4 come from its resources. clean. It must now establish its strategic positioning and complete the transformation of its governance.

2021 is a crucial year for climate finance issues with several key deadlines: COP26 and COP15 on biodiversity, in particular. In this context, France has assumed for this year the co-presidency of the Council of the Green Climate Fund, the financial arm of the Paris Agreement. This co-presidency, ensured by Jean-Christophe Donnellier, is exercised in partnership with Mexico representing the constituency of developing countries.

Inspector General of INSEE, Jean-Christophe Donnellier has been, since September 2020, Minister Counselor for Economic Affairs, Inspector General of the Directorate General of the Treasury. Between 2017 and 2020, he held the post of Head of the Regional Economic Service of the Treasury in London.

Director of International Relations at the Directorate General of the Treasury, between 2007 and 2009, then Minister Counselor for Economic and Financial Affairs, Head of the Regional Economic Service in the United States, he was Minister Counselor for Economic Affairs of the OECD and Permanent delegate of France to the Development Assistance Committee (CAD) between 2010 and 2014.

The objectives of the French co-presidency are to improve the governance of the Fund, ensure operational achievements and reaffirm the place of the Green Fund in the architecture of international climate finance. It is carried out in partnership with Mexico and in close contact with our developed and developing partners.

The 28th Council of the Green Fund, which was held from March 16 to 19, 2021, was the first of the new French-Mexican co-chair. It enabled the approval of 15 new projects for a commitment amount of $1.2 billion ($7.5 billion with co-financing).

Several of the projects support major initiatives for which France is mobilized: the Great Green Wall and the Solar Risk Mitigation Initiative resulting from the programs of the International Solar Alliance, for example. In addition, a project led by the French Development Agency in the Indian Ocean was also approved during the council.

Source: http://bit.ly/FrGCF