Mafalda Duarte, head of the Green Climate Fund, has urged global leaders to uphold their financial commitments to climate initiatives in developing countries after the U.S. canceled $4 billion in pledges. She emphasized that addressing climate change is vital for global security and that investments can yield economic benefits. The GCF has funded numerous projects worldwide but faces challenges due to reduced funding.
The executive director of the Green Climate Fund (GCF), Mafalda Duarte, has called upon global leaders to maintain their commitment to climate finance for developing nations, especially following the United States’ withdrawal of $4 billion in pledged contributions to the fund. Duarte emphasized that the interconnected nature of modern society means that climate change must be addressed internationally, as its impacts—including conflict and migration—do not respect national borders.
Duarte’s statements were made shortly after it was reported that the Trump administration officially rescinded the previous financial commitments made to the GCF, a historic move since no country has previously canceled pledged contributions. The GCF was established in 2010 to facilitate climate funding in developing nations, delivering $16 billion in projects across 133 countries, with significant contributions from nations such as Germany, the United Kingdom, and Japan.
In her remarks, Duarte pointed out that while climate change poses various risks, investment in sustainable projects can bring economic benefits and strategic global influence. “Countries that lead in climate finance will lead the future economy,” she stated, suggesting that nations engaging in overseas climate initiatives can bolster their standing in the international arena. This perspective aligns with similar sentiments expressed by UN climate chief Simon Stiell, who mentioned the potential for other countries to seize opportunities in the clean energy transition following the U.S. withdrawal from the Paris agreement.
Duarte highlighted a specific GCF project aimed at aiding over 200,000 Salvadorans affected by prolonged droughts, showcasing how resilient farming strategies can mitigate crises and aid communities in managing environmental stressors. Although a GCF spokesperson assured that existing programs would remain unaffected by the U.S. funding cut, there is concern that without full realization of pledges, support for developing countries’ climate initiatives may become compromised.
In conclusion, Mafalda Duarte of the Green Climate Fund has stressed the importance of continued climate financing from global leaders, especially in light of the U.S. withdrawal of significant pledges. She indicated that such investments are crucial not only for the recipients but also for donor countries, emphasizing the interconnected nature of global climate issues. As other nations potentially step in to fill the void left by the U.S., ongoing financial commitment is essential for the success of climate projects and the resilience of vulnerable communities.
Original Source: www.climatechangenews.com
