The Green Climate Fund (GCF) Board has unanimously reappointed Executive Director Mafalda Duarte for a second four-year term, endorsing her reform agenda as the Fund continues to expand climate finance and improve access for vulnerable countries.
The reappointment follows a Board meeting that highlighted reforms introduced under Duarte’s leadership, including improvements to accreditation, project due diligence and financial management, alongside record levels of funding and project approvals.
Duarte said the Board’s decision reflected confidence in the direction of the organisation and its efforts to improve the delivery of climate finance.
“I am deeply grateful for the Board’s unanimous support in asking me to serve as Executive Director of GCF for a second term
“I see it as an unequivocal vote of confidence in our reform agenda and overall ambition for the Fund,” she said.
Duarte said reforms implemented over the past three years had begun delivering results, including a more efficient accreditation framework, streamlined project due diligence and improved balance-sheet management.
She said the changes had been implemented while the Fund reached record levels of financing and approved projects in countries that remained inadequately supported by climate finance.
“We will continue to build on this momentum and consolidate the reforms, while ensuring the organisation is equipped to deliver at a higher scale and with a clear focus on the greatest systemic impact,” Duarte said.
She credited the GCF Board and staff for supporting the reform programme.
“None of this would have been possible without the strong support of the Board and the unwavering commitment and hard work of GCF staff,” she said.
The second four-year term will allow Duarte to continue overseeing the Fund’s efforts to increase the scale and effectiveness of climate finance, strengthen access to funding and mobilise private sector investment.
The GCF is a key international climate finance institution supporting developing countries to reduce greenhouse gas emissions and strengthen resilience to climate change.
