New York, 15 June - President Danny Faure on Friday discussed the replenishment of the Green Climate Fund, the world’s leading financial institution helping developing countries address climate change, with its Executive Director Yannick Glemarec.

The GCF has, over its first five years, committed US$5 billion to 102 projects in 97 developing countries which will mitigate more than 1.5 billion tonnes of emissions in CO2 equivalent, and improve the resilience of 276 million people in vulnerable countries.

Meeting in New York, President Faure and Mr Glemarec discussed the need for developed countries to at least double their contributions to the fund to meet the challenges of keeping the increase in temperature to below 1.5 degrees Celsius as demanded by science if the world is to avoid a climate catastrophe.

The President commended Germany and Norway for leading by example by pledging to double their contributions to the Fund.

Mr Faure and Mr Glemarec also exchanged ideas on ways to further streamline the management and governance of the GCF. Of particular interest to the President was the need to further simplify access to funds especially for small island developing states (SIDS), least developed countries (LDCS) and countries in Africa constrained by limited resources and speed up delivery of funds for projects.

Ambassador Ronny Jumeau, who represents Small Island Developing States on the GCF Board, accompanied President Faure along with economic advisor in the President’s Office Bertrand Belle.