PRESS RELEASE (Warsaw, Poland, 19 November 2013) – The Green Climate Fund announced today that is on track towards completing the final steps that will enable it to mobilize funding and start its operations.

Speaking at COP 19, the Board’s Co-Chair Mr. Manfred Konukiewitz told government, business and civil society leaders thatthe Green Climate Fund is on target and will soon be ready to help developing countries foster climate-friendly development. “Climate finance is a critical part of the international efforts to combat climate change and address ever more serious climate change impact, as discussions in Warsaw have made clear. The Fund is stepping up its work to deliver effective results in developing countries and ensure that the impact of funding for adaptation and mitigation are maximized ,”stated Konukiewitz .

“The Board of the Fund has agreed on a number of significant decisions that define a clear work plan for the Fund to operate. The Fund can and will promote a paradigm shift towards low-emission and climate-resilient development.”

Ms.Mary Ann Lucille Sering, Secretary of the Climate Change Commission of the Philippines, on behalf of Mr. Jose Maria Sarte Salceda, Co-Chair of the Fund’s Board stressed, “Theswift operationalization of the Green Climate Fund is critical to helping developing countries adapt to and cope with the worsening impacts of climate change. We are committed to exercising leadership and ensuring the essential requirements are fulfilled by September 2014 so money will start flowing to countries that are in need and most vulnerable. Many of our countries have put in place policies and domestic financing strategies to make our economies resilient, rebuild communities better and in a transformational manner – but we need international support to help us bridge the gap and make this transition towards climate-resilient low-emission development.”

Ms. Héla Cheikhrouhou, the Fund’s first Executive Director, is in Warsaw to encourage both developed and developing countries to engage with the Fund as soon as possible. “The Fund is on track, and developing and developed countries alike must now get ready,” said Cheikhrouhou. “Developing countries need to be ready to engage with the Fund across all thematic areas and activities. Contributing countries need to reassure all stakeholders that they will indeed be ready to mobilize resources so that the Fund can play a key role in channelling new, additional, adequate and predictable financial resources to developing countries to act on climate change.” “The Fund’s country-driven approach,its innovative features such as its private sector facility, and cooperation across all aisles will be the drivers that catalyse climate finance, both public and private, at the international and national levels .”

At its October meeting in Paris, theBoard agreed to a work plan towards the initial resource mobilization of the Fund. It also affirmed that readiness and preparatory support are strategic priorities for the Fund.

During the High Level Segment of the COP, Mr. Konukiewitz, Ms. Cheikhrouhou and other Board membersof the Fund have been meeting with government leaders from developed and developing countries. Ms. Cheikhrouhou has also been speaking to the investment community gathered in Warsaw.

The Green Climate Fund (the Fund) is a new multilateral fund that was agreed by Parties at the 2010 United Nations Framework Convention on Climate Change conference held in Cancun, Mexico. The Fund’s Governing Instrument was developed throughout 2011. The Fund’s purpose is to make a significant contribution to the global efforts to limit warming to 2 degrees Celsius by providing support to developing countries to help limit or reduce their greenhouse gas emissions, and to adapt to the unavoidable impacts of climate chang.

More information on the Green Climate Fund is available on the Fund’s website.