GCF-1 Progress Report

Over the past four years, in the face of COVID-19, political and economic crises, the need for urgent climate action has become ever clearer. The GCF-1 Progress Report, available in both web and pdf versions, highlights the extensive progress made by GCF in delivering high-impact climate finance during the 2020-2023 period (referred to as ‘GCF-1’), ahead of its replenishment for the next four years.

The GCF-1 Progress Report records the significant expansion of the Fund during this period, with a portfolio now standing at 216 projects, worth USD 12 billion, and with total assets under management, including co-financing, of over USD 45 billion. GCF has become the world’s largest dedicated climate fund, supporting adaptation and mitigation projects in 129 countries. GCF is also undertaking a change in leadership ahead of the next funding period. Yannick Glemarec who successfully led GCF in GCF- 1 completed his term in April 2023, and Mafalda Duarte who was appointed as the incoming Executive Director will officially start her term in July 2023. 

Cover date 01 May 2023
Document type GCF in Brief