The incoming executive director of the Green Climate Fund, who has yet to be selected, will inherit an organization primed to be significant player in effort to battle climate change, the Center for American Progress said in a report Monday. “The next executive director of the GCF will inherit the fund at a time when its advantages, resources, and role have come into focus,” the report says. “[T]here is now an opportunity to hone the strengths of the fund and steer it toward becoming a successful channel of climate finance.”
The Green Climate Fund was developed in 2009 to support climate friendly development in developing nations. It was led by its first Executive Director Héla Cheikhrouhou from its 2013 until last month. Javier Manzanares is currently serving as interim executive director while the organization’s board searched for a new permanent executive director.
According to the paper, if managed correctly the GCF “has an opportunity to become a center of thought and action in climate finance more broadly.” The fund stands to be globally influential because of its “exclusive focus on climate; its blend of members and donors from both developed and developing countries; and its ties with a diverse set of offices via its board members, who are typically from ministries of finance, the environment, or foreign affairs.”
