During a bilateral meeting at COP 27, Minister for Environment, Conservation and Climate Change, Honorable Simo Kilepa met with Executive Director of Green Climate Fund (GCF), Ms. Carolina Fuentes.
During the bilateral discussion, Minister Kilepa acknowledged the role of GCF in assisting developing countries in adaptation and mitigation practices to counter climate change including Papua New Guinea.
In the discussions, Minister Kilepa highlighted key areas for GCF’s consideration in the Pacific. One was for a dedicated GCF Pacific Regional Presence of Office. Minister Kilepa highlighted that this is important for the region to expedite review and assessment support for Pacific Small Island Developing States (PSIDS) and PNG to enable fast tracking of submission of its bankable project proposals to help PSIDS Nationally Determined Contributions (NDC) target 2030.
Second was to accelerate processes that expedite finalization approval process, allowing for less condensed proposal templates, simple procedures and less time-consuming requirements.
Minister Kilepa also requested GCF to consider developing special criteria for PSIDS that allow for support to the inevitable situation of community displacement and loss and damage resulting from dangerous impacts of climate change.
PNG engaged with GCF for the first time after the historical Paris Agreement in 2015 and in 2017 accessed funds for its first readiness support project-on improving capacity of National Designated Authority to undertake its roles and functions for GCF.
The Green Climate Fund is a fund established within the framework of the UNFCCC as an operating entity of the Financial Mechanism to assist developing countries in adaptation and mitigation practices to counter climate change.
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