Frederic Glanois, Deputy Head of Office, Ministry of Finance, France talks about the importance of mechanisms, such as the Global Environment Facility (GEF), in tackling climate change.

Glanois says that the GEF 5th Assembly has helped to prepare the world for the climate change negotiations in Lima this year and in Paris in 2015 in a number of ways.

He says the replenishment of GEF’s funds at the assembly has been welcomed by the international community and demonstrates the collective ability of countries to work together and tackle climate change.

He says, throughout the year there has been an increase in commitments announced by both developing and developed countries, which makes him hopeful that this spirit of partnership will help to build momentum ahead of the negotiations in Lima and Paris.

However, Glanois says climate change remains an economic problem and therefore climate finance poses the biggest challenge in the fight against climate change.

He says it is necessary to transform the global economy and redirect trillions of dollars of investments and private flows towards a green economy, green investments and climate-friendly policies and action. But he says mechanisms like GEF have an important role in catalysing this transformation.