L-R: William Ehlers, GEF Secretariat; Co-Chair Carola Van Rijnsoever, the Netherlands; and Naoko Ishii, GEF CEO and Chairperson, join participants in a resounding round of applause at the conclusion of the meeting.
On the third and final day of the 56th meeting of the GEF Council, the Council convened as the 26th meeting of the Council for the Least Developed Countries Fund and the Special Climate Change Fund (LDCF/SCCF), and approved the Joint Summary of the Chairs for the joint Council meeting.
Naoko Ishii, GEF CEO and Chairperson, acting as Co-Chair of the LDCF/SCCF Council, shared takeaway messages from a recent meeting of the Global Commission on Adaptation. She highlighted the upcoming UN Secretary-General’s Climate Action Summit and the 25th session of the Conference of the Parties to the UN Framework Convention on Climate Change as opportunities to accelerate action on the ground. She also thanked Ireland for its EUR 2 million contribution to the LDCF.
In a keynote address, Orsalia Kalantzopoulos, CEO, Europa Re Ltd., outlined her Swiss-based catastrophe risk reinsurance company’s efforts to provide climate risk insurance coverage in southeastern Europe, saying its experience can be replicated in other regions.
GEF Council Members, convening as the 26th meeting of the LDCF/SCCF Council, adopted a joint LDCF/SCCF work program
comprising 12 projects, with resources amounting to USD 103.41 million for the LDCF and SCCF, including project grants and Agency fees. They also welcomed the Fiscal Year 2018 Annual Monitoring Review of the Funds and its finding that 87% and 94% of LDCF and SCCF projects under implementation in FY18, respectively, were rated “moderately satisfactory” or above for their progress towards development objectives.
Following approval of the Joint Summary of the Chairs for both the GEF Council and the LDCF/SCCF Council meetings, GEF CEO and Chairperson Naoko Ishii closed the meeting at 12:02 pm.
IISD Reporting Services, through its ENB+ Meeting Coverage, provided daily web coverage, video coverage, and a summary report from the GEF Council Consultation Meeting with CSOs, 56th GEF Council Meeting, and 26th Meeting of the LDCF/SCCF Council. The summary report is now available in HTML and PDF.
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