Gouvernement Princier de Monaco
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09 October 2023 Press release

Monaco participates in the High-level Pledging Conference for the second replenishment of the Green Climate Fund

S.E. M. Lorenzo RAVANO et Mafalda DUARTE, Directeur Exécutif du Fonds Vert pour le Climat ©DR

H.E. Mr Lorenzo Ravano, Monaco's Ambassador to Germany, represented the Principality at the High-level Pledging Conference for the second replenishment of the Green Climate Fund on 5 October in Bonn (Germany), where he reaffirmed Monaco's commitment to contribute €3.3 million to the fund for the 2024-2027 period.

Working to implement the Paris Agreement, the Green Climate Fund is now one of the main tools for international solidarity in the fight against the climate crisis. It aims to support developing countries in their energy transition and adapting to the effects of climate change.

Operational since 2015, the fund has already granted more than $12 billion in support of 216 projects in 128 developing countries, mobilising an additional $33 billion in financing, mainly from partnerships with the private sector. These projects have eliminated 2.9 billion tonnes of CO2e and strengthened the resilience of almost a billion people.

In line with the commitment to the Paris Agreement, Monaco has made the fight against climate change a cornerstone of its development cooperation policy. The Principality has supported the fund since its inception and has gradually increased funding over the years, becoming the largest per capita contributor during the 2020-2023 period.

This ambitious new commitment, amounting to a 10% increase on the previous period, sends a strong message of confidence in the fund's ability to mitigate climate change in the most vulnerable countries.

The Principality stands alongside major donors such as France, Germany and the United Kingdom, which have also reaffirmed support for the fund. Monaco was one of only three countries out of the 25 that pledged to contribute at the conference to immediately honour its pledge by signing a contribution agreement.


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