Farmington, Margibi County – Board members of the Green Climate Fund (GCF) have pledged their commitment to scale up GCF support to developing countries battling the crippling effects of climate.
The GCF is the world’s largest fund dedicated to empowering countries to reduce greenhouse gas emissions and adapt to climate change.
Liberia, for the first time, is hosting the three-day informal Board meeting currently taking place in Farmington, Margibi County.
In the opening remarks delivered on behalf of President George Weah, the Minister of Finance and Development Planning, Samuel Tweah called on governments of developed and developing countries to form a united front in promoting low carbon economies and climate-resilient developments.
“Protecting our planet now is not a choice but a mandate for this generation. As such, all governments, both developed and developing countries, must harness resources through the Green Climate Fund to promote low carbon economies and climate-resilient development,” he urged.
Speaking further, Minister Tweah noted that Liberia continues to make steady progress in economic, infrastructure, social and political development, but with some of the highest rainfall in the world and rapid pace of deforestation, is more vulnerable to climate change.
He added higher temperatures, more extreme weather events such as heavy rain, devastating storm and coastal erosion are a clear manifestation of the devastating impacts of climate change.
“In 2018, heavy rain caused the worst flood event in Liberia in recent memory, affecting over 50,000 people. These climate-related events have toll on health, food, education, water and sanitation,” he revealed.
Liberia’s flagship development program, the Pro-poor Agenda for Prosperity and Development (PAPD), the Minister added, is aligned with the climate-sensitive sectors including agriculture, fisheries and forestry as part of the country’s climate-smart programs to boost economic growth.
He pledged the country’s commitment to meeting its obligation under the Paris Climate Change Agreement and said following the completion of the climate vulnerability and risk assessment on the impact of climate change, the country adopted the National Policy and Response Strategy on Climate Change which outlines the short and long-term measures in addressing climate change.
He lauded the GCF Executive Board and the World Bank for their continued development partnership and called on them to increase their cooperation in the coming years as Liberia looks forward to investing in the agro- Carbon sector.
The 24-member GCF Board, consisting equally of developing and developed countries’ representatives is meeting to progress the fund’s strategic vision, priorities and plan for the next four years in order to support countries’ efforts to combat the climate crisis and achieve their Paris Agreement goals.
Nauman Bashir Nhatti of Pakistan, who takes over the reins as a new GCF Board Co-Chair this year said, as a country-driven organization, GCF must ensure it responds effectively to the needs and priorities of developing countries and align its stakeholder engagements, portfolio and financing accordingly, something the review of the Strategic Plan will be taking this into consideration.
Also speaking, Sue Szabo, the new Co-Chair from Canada said: “This week’s meeting is taking place at a critical time for the fund. A successful replenishment in 2019 means GCF must enhance its strategy to dramatically scale-up its programing and reach more vulnerable people, communities and countries with flexible and innovative solutions.”
Liberia has the highest remaining portion of the forests of the Upper Guinea Massif, containing many plant and animal species endemic to the region and is considered a biodiversity hotspot. Liberia is particularly vulnerable to the negative effects of climate change, and with 570 percent of the population living in coastal cities, seal level rise and erosion both pose significant threats to the country.
The EPA’s Executive Director, Nathaniel Blama stated in the wake of advancing GCF’s Strategic Plan, the meeting in Liberia this week offers an opportunity for the fund to understand the depth of the threats posed by climate change on developing countries and the need to provide resources faster.
Meanwhile, of the GCF’s total approved funds of US$5.6 billion, nearly 40 percent or 2.2 billion has been directed to African countries to support approximately 50 percent.
While expressing his gratitude to the Liberian Government for hosting the board meeting, Yannick Glemarec, GCF Executive Director said: “The burgeoning demand for climate finance reflects the high ambitions shared by many developing countries to scale up climate action and the urgent need to do so. I am confident this meeting will help refine the Fund’s strategy to finance transformative initiatives with life-changing potential.”
Meanwhile, the delegates led by the EPA made an excursion to the Unity Conference Center in Virginia to have a first-hand experience of the devastating effects of sea erosion where dozens of the 52 villas that once hosted African leaders attending the 1979 Organization of African Unity (OAU), now the African Union (AU) Summit have been washed away.
Dozens more, including the deserted and dilapidated Hotel Africa itself is under threat of being washed away in the near future if nothing is done to avert the situation.