This report provides an update on the GCF resources, active portfolio and funding pipeline. It outlines key trends in project programming, pipeline development, and issues arising in portfolio implementation.

It is structured as follows:
(a) Report reflecting Fund resources, accreditation, readiness, GCF portfolio and pipeline;
(b) Annex I: Pipeline snapshots
(c) Annex II: List of funding proposals and Project Preparation Facility requests
(d) Annex III: Funded activities with challenges that may require restructuring or cancellation.