0
in GCF resources for 297 projects across 133 countries (USD)
0
people with increased resilience
0
tonnes of CO2 equivalent avoided
The Green Climate Fund’s second replenishment (GCF-2) has reached a record funding level. As of December 2023, 31 countries pledged support to the Green Climate Fund with a total of USD 12.8 billion over the next four years.
Six new pledges totaling USD 3.5 billion were announced at COP28 and build on momentum from GCF’s High-level Pledging Conference in Bonn in October 2023, where 25 countries pledged their support to GCF totaling USD 9.3 billion.
The amount pledged so far exceeds the USD 10 billion for the first replenishment period (GCF-1). This new funding will enable GCF to channel new, predictable financial resources to developing countries over the next four-year programming cycle to tackle the impacts of climate change and protect the most vulnerable communities.
Thanks to the generosity of contributor countries, GCF is well-positioned to deliver even more support for developing countries to achieve their climate ambitions, as set out in GCF’s Strategic Plan 2024-2027and outlined in its “50by30” vision.
The need for ambitious action on climate is clear and in 2024 we must collectively unlock further finance – the true enabler of climate action. Countries are raising their ambitions to deliver climate finance to developing countries – but we can do more.
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Investment case
Why invest in GCF now despite other global challenges?
Photo: Anthony Ochieng / Climate Visuals Countdown
Advancing climate ambitions
GCF has a proven track record of delivering climate finance, working with governments and a growing network of over 200 organisations in the public and private sectors to raise the climate ambitions of developing countries.
Photo: Joan Sullivan / Climate Visuals Countdown
Driving transformational change
GCF increases developing country access to finance and supports their transition to a green, resilient path for a sustainable future. By de-risking investments, making blended finance work, and catalysing private sector capital, GCF unlocks innovative climate adaptation and mitigation solutions for large-scale deployment.
Photo: Shibasish Saha / Climate Visuals Countdown
Delivering impact beyond the climate fight
A replenished GCF is critical for global climate action. Climate change does not exist in a vacuum and by tackling the climate crisis, other intersecting global challenges can be addressed. As a maturing Fund that works to increase access to climate financing for developing countries , GCF is in the position to achieve more ambitious targets.