FP152
Global Subnational Climate Fund (SnCF Global) – Equity
Global Subnational Climate Fund (SnCF Global) – Equity
The goal of the Sub-national Climate Fund Global (SnCF Global or the “Fund”) is to catalyze long-term climate investment at the sub-national level for mitigation and adaptation solutions through a transformative financing model. The SnCF Global’s business model is designed to attract primarily private institutional investment and to deliver certified climate and Sustainable Development impacts and Nature-based Solutions at global scale (SDGs, NbS). The subnational level is key: 70% of known climate solutions are located within the boundaries of subnational authorities. Significant additional investment is needed in this sector to achieve the climate goals of the Paris Agreement. The SnCF Global presents a positive disruptive solution on how subnational climate projects should be structured, de-risked, and funded by both private and public investors, while monitored and benchmarked at the highest level of rigor and quality.
The Fund is designed to overcome project-level barriers and limitations in attracting private investment that leads to chronic underfunding of bankable mitigation and adaptation projects at the sub-national level, specifically at the deal size of USD 5 million to 75 million. Thousands of high merit sub-national projects are bypassed by commercial financing because investors prefer perceived safer and larger investments. The Fund firmly believes that GCF anchor funding and first-loss coverage will unlock both public investors and more importantly, private institutional investors. With GCF support, these investors have expressed willingness to co-invest. This is the first time an impact equity fund mobilizes public (20 %) and private sector (80%) funding at scale to de-risk sub-national middle scale infrastructure projects.
Project timeline
Pipeline
30 Aug 2017 - 1172 days
Concept note received
30 Aug 2017
Funding proposal received
31 Dec 2019
Cleared by GCF Secretariat
30 Mar 2020
Legal opinion on AE's Internal Approval
16 Oct 2020
Cleared by iTAP
19 Oct 2020
Approved
13 Nov 2020 - 116 days so far
Approved by GCF Board
13 Nov 2020
FAA executed
23 Feb 2021
Under implementation
Completed
01 Jul 2032
Four regions
- Africa
- Asia-Pacific
- Latin America and the Caribbean
- Eastern Europe
Forty-two countries
- Côte d'Ivoire
- Gabon
- Kenya
- Rwanda
- South Africa
- Indonesia
- Chile
- Guatemala
- Mexico
- Uruguay
- Morocco
- Tunisia
- Burkina Faso
- Brazil
- Dominican Republic
- Cambodia
- Fiji
- Cameroon
- Mozambique
- Nigeria
- Togo
- Uganda
- Haiti
- Honduras
- Panama
- Mauritania
- Albania
- Montenegro
- Costa Rica
- Ecuador
- El Salvador
- Dominica
- Jamaica
- North Macedonia
- Myanmar
- Guinea
- Mali
- Bahamas
- Democratic Republic of the Congo
- Senegal
- Jordan
- Lebanon
Three priority groups
- Least Developed Countries
- Small Island Developing States
- African States
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing
Instrument | Amount |
---|---|
Equity | USD 150,000,000 |
Cofinancing
Cofinancer | Instrument | Amount |
---|---|---|
Co-Financing | Equity | USD 600,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsPhone +82 32 4458 6338 (KST)
Send e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6485 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6155 (KST)
Send e-mail
Accredited Entity

Pegasus Capital Advisors
Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
General Counsel & Chief Compliance Officer
750 East Main Street, Suite 600 Stamford, Stamford, United States
National Designated Authority
Directorate for the Fight against Climate Change, Ministry of Environment and Sustainable Development
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Conseil National Climat National Climate Council
Adviser to the President of the Republic, Permanent Secretary Conseil National Climat
BP 3850, Libreville, Gabon
The National Treasury
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Rwanda Environment Management Authority
Department of Environment, Forestry and Fisheries
Senior Policy Advisor: International Governance Management
Fiscal Policy Agency, Ministry of Finance
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Acting Director of Center for Climate Finance and Multilateral Policy/Head of the NDA Secretariat
Center for Climate Finance and Multilateral Policy, Fiscal Policy Agency, Ministry of Finance, R.M. Notohamiprodjo Building 5th Floor, Jalan Dr. Wahidin Raya No.1,, Jakarta, Indonesia
Ministry of Finance
Undersecretary of Finance
Teatinos 120, Santiago, Chile
Focal Point Green Climate Fund
Teatinos 120, Santiago, Chile
Ministry of Environment and Natural Resources
Minister of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Deputy Minister, Ministry of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Director of International Cooperation
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Ministry of Finance and Public Credit
Director for Institutional Investors
Av. Insurgentes Sur 1971, Torre III, Piso 7, Col. Guadalupe Inn, Alcaldía Alvaro Obregón, Ciudad de México, Mexico
Ministry of Environment
Climate Change Director
Torre Ejecutiva 710, Plaza Independencia 6th Floor, Montevideo, Uruguay
Ministry of Energy, Mining and Sustainable Development, Secretariat of State for Sustainable Development
Director of Climate Change, Biodiversity, and Green Economy
Ministry of Environment and Sustainable Development
Director of General Directorate of Sustainable Development
Ministere des Affaires Locales et l'Environnement, Cite Administrative, Rue du Developpement, Cite el Khadra, Tunis, Tunisia
Prime Ministry
Adviser to the Prime Minister/Environment Inspector
01 PO BOX 4223, Ouagadougou
Secretariat for International Affairs, Ministry of Economy
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 2° andar, Sala 219, Brasília (DF), Brazil
Ministry of Environment and Natural Resources
Deputy Minister of International Cooperation
Avenida Cayetano Germosén esq. Avenida Gregorio Luperón, Ensanche El Pedregal, Santo Domingo, Distrito Nacional, Dominican Republic (the)
Ministry of Environment
Minister
Morodok Techo Building (Lot 503), Tonle Bassac, Chamkarmon, Phnom Penh, Cambodia
Deputy Secretary General, National Council for Sustainable Development
Ministry of Economy
Permanent Secretary for Economy
P.O. Box 2212, Government Buildings Suva, Fiji, Suva, Fiji
Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED)
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Deputy National Director of Monitoring and Evaluation
Federal Ministry of Environment
Deputy Director and Overseeing Head, Department of Climate Change
Plot 444, Aguiyi Ironsi Way, FCT, Abuja, Nigeria
Directorate of Environment, Ministry of Environment
Economist Manager, in charge of financial services
Ministry of Finance, Planning and Economic Development
Permanent Secretary / Secretary to the Treasury
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Phone +256 414 707 161
andrew.masaba@finance.go.ug
Juvenal.Muhumuza@finance.go.ug
Isaac.Katabalwa@finance.go.ug
Ministry of Environment
GCF Focal Point
Parc Industriel Métropolitain, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
Ministry of Energy, Natural Resources, Environment and Mining
Secretary of State
Edificio Principal, 200 metros al Sur del Estadio Nacional, Tegucigalpa, Honduras
Ministry of Environment
Minister of Environment
Building 804, Albrook, Panama
Head of the International Coordination Office
Building 804, Albrook,, Panama
Ministry of Environment and Sustainable Development
Policy Officer and Coordinator of the National Program on Climate Change
Ministry of Tourism and Environment
Secretary General, Ministry of Tourism and Environment
Boulevard "Zhan D'Ark", No.23, Tirana, Albania
Ministry of Ecology, Spatial Planning and Urbanism
Directorate for Climate Change and Mediterranean Affairs
IV Proleterske brigade 19, 81000, Podgorica, Montenegro
Ministry of Environment and Energy
Minister of Environment and Energy
Calle 5. Av. 8-10, San José, Costa Rica
Phone +(506) 22571417
Phone +(506) 22575456
andrea.meza@minae.go.cr
despachominae@minae.go.cr
Director of the Climate Change Directorate
Esquina Calle Ronda, Barrio Dent, Centro de Cambio Climático, San José, Costa Rica
Ministry of Environment and Water
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
diego.teca@ambiente.gob.ec
ines.arias@ambiente.gob.ec
gabriela.vargas@ambiente.gob.ec
Ministry of Environment and Natural Resources (MARN)
Minister of Environment and Natural Resources
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Advisor to the Technical Cabinet
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Ministry of Economic Affairs, Planning, Resilience, Sustainable Development, Telecommunications and Broadcasting
Acting Chief Development Officer
5th Floor, Financial Centre, Kennedy Avenue, Roseau, Dominica
Ministry of Economic Growth and Job Creation
Principal Director, Climate Change Division
16A Half-Way-Tree Road, Kingston 5, Jamaica, Kingston, Jamaica
Senior Technical Officer (Mitigation)
16A Halfway Tree Road, Kingston 5, Kingston, Jamaica
Cabinet of the Deputy President of the Government in Charge for Economic Affairs and Coordination of Economic Sectors
Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Bul Ilinden nr.2, 1000 Skopje, North Macedonia
Advisor, Cabinet of the Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
State Counselor on Climate Change, Ministry of environment and physical planning
Ministry of Environmental Conservation and Forestry
Director General, Environmental Conservation Department
Building no. 53, Oattara Thiri Township, Nay Pyi Taw, Myanmar
The National Directorate of the Environment
Director
761 Conakry, Rép. de Guinée, Guinea
The Environment and Sustainable Development Agency
Director General of the Environment and Sustainable Development Agency
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Ministry of the Environment and Housing
Permanent Secretary, Ministry of the Environment and Housing
Charlotte House, 2nd Floor North Wing, Charlotte & Shirley Streets, Nassau, Bahamas
Head, Climate Change Unit
National Coordination of the Green Climate Fund
Coordinator
15, Avenue Papa Iléo (ex-des Cliniques) Commune de la Gombe, Kinshasa, Democratic Republic of the Congo (the)
Ministry of Environment and Sustainable Development
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Ministry of Environment
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
Ministry of Environment
UNFCCC National Focal Point, Acting Head of the Service of Environmental Technology
Ministry of Environment, Lazarieh Center, 7th & 8th Floor, Block A-4 New, A4-Old, and A5 P.O.Box: 11/2727; Beirut-Lebanon, Beirut, Lebanon
News + Stories

GCF signs public-private partnership agreements to launch Global Subnational Climate Fund
23 Feb 2021 / The Green Climate Fund (GCF) has joined forces with Pegasus Capital Advisors and the International Union for Conservation of Nature (IUCN) in an innovative bundling of public-private financing to plug a funding gap for sub-national climate initiatives. GCF announced it has signed funding agreements with both organisations during a virtual briefing session for UN representatives in New York about the Global Subnational Climate Fund (SnCF Global), created to address a major deficit in climate finance.