The world’s climate fund for developing countries

Climate action in developing countries is critical to achieving global climate goals. Established in 2010 by the 194 parties to the United Nations Framework Convention on Climate Change (UNFCCC), GCF is an operating entity of the financial mechanism of the UNFCCC.  The Fund supports developing countries in achieving their climate ambitions and plays a key role in implementing the Paris Agreement.

In this pivotal decade, climate finance is growing, but not at the speed, scale, or reach needed. GCF is uniquely positioned to help close these gaps.

As the world’s largest dedicated climate fund, GCF channels and catalyses finance to developing countries, working with partners to deliver country-driven projects and programmes. By mobilising public and private capital and sharing risks, GCF supports mitigation and adaptation efforts that would otherwise struggle to secure financing—particularly in vulnerable and underserved contexts.

To date, GCF has committed over USD 20 billion across 134 developing countries, supporting collective global efforts to address climate change.

Our work is designed to support paradigm shifts in climate mitigation and climate adaptation efforts, with a targeted 50:50 balance in investments between the two over time. We finance projects and programmes within eight major result areas because of their potential to deliver substantial impact on both mitigation and adaptation.

GCF seeks to have an impact within eight mitigation and adaptation result areas. We are also committed to achieving a balance between funding for mitigation and adaptation initiatives.

GCF strives to ensure that our investments drive a paradigm shift towards low emissions and climate resilience. We consider both mitigation and adaptation as critical parts of the response to climate change, with all eight result areas holding important potential, and will strive to achieve a balance in its portfolio. Our goal is to seek the “sweet spots” between national priorities, potential to deliver concrete climate benefits, cost considerations, and opportunities to deliver co-benefits.

The eight result areas cover both mitigation and adaptation and provide the reference points that will guide GCF and its stakeholders to ensure a strategic approach when developing programmes and projects, while respecting the needs and priorities of individual countries. The result areas have been targeted because of their potential to deliver a substantial impact on mitigation and adaptation.