GCF Reform Journey – COP31 Edition

Developing countries face a double challenge: climate investment needs are greater than ever and must be met faster than ever. With Parties calling for at least USD 1.3 trillion a year in climate finance for developing countries by 2035, GCF, as the world's largest multilateral climate fund, must deliver at a much larger scale and a much faster pace.

That was the premise of the "50by30" vision presented in 2023. The vision set GCF on an ambitious reform journey to build a fund that can efficiently and impactfully manage a capitalization of USD 50 billion by 2030.

Three years on, the results are becoming clear. GCF has become faster and leaner, and is now ready for scale.

This COP31 edition sets out how the Reformed GCF is becoming a benchmark country-led, efficient and impact-driven institution.