FP152

Global Subnational Climate Fund (SnCF Global) – Equity

Global Subnational Climate Fund (SnCF Global) – Equity

  • Status Under implementation
  • Date approved 13 Nov 2020 at B.27
  • Est. completion 20 Apr 2040
  • ESS Category Intermediation 2

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. 

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

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 - 159 days

Approved by GCF Board

13 Nov 2020

FAA executed

23 Feb 2021

Under implementation

20 Apr 2021 - 1,298 days so far

FAA effective

20 Apr 2021

Disbursement - USD 50,000,000

21 May 2021

To be completed

20 Apr 2040 - 5,643 days to go

USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing33% disbursed

InstrumentAmount
EquityUSD 150,000,000
Total GCF Financing
USD 150,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingEquityUSD 600,000,000
Total Co-Financing
USD 600,000,000

GCF Contacts

General media inquiries

GCF Communications
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Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Entity

Pegasus Capital Advisors
Mr. Craig Cogut
Primary

Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Ms Natalie Gartmann
Secondary

ESG Manager
750 East Main Street, Suite 600 Stamford, Stamford, United States
More contacts

National Designated Authority

Albania
Ministry of Tourism and Environment
Mr. Sofjan Jaupaj Primary
Director of Procurement and Partnerities
Boulevard "Deshmoret e Kombit", No.1,1001 Tirana, Albania
Phone (+35569) 3519757
Sofjan.jaupaj@turizmi.gov.al
Bahamas
Office of the Prime Minister
Mrs. Rochelle Newbold Primary
Special Advisor for Climate Change & Environmental Matters
Sir Cecil Wallace Whitfield Center, Nassau, Bahamas
Phone 1(242)702-5500
ROCHELLENEWBOLD@BAHAMAS.GOV.BS
Dr. Rhianna Neely Secondary
Director, Department of Environmental Planning and Protection Ministry of Environment and Natural Resources
Phone 1(242)322-4546
Rhiannaneely@bahamas.gov.bs
Ms. Christine Thompson Secondary
Deputy Director Economics, Ministry of Finance
Phone 1(242)702-1586
ChristineMThompson@bahamas.gov.bs
Brazil
Secretariat for International Affairs, Ministry of Finance
Ms. Tatiana Rosito Primary
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +55 (61) 3412-2202
and.gcf@economia.gov.br
Mr. Ivan Tiago Machado Oliveira Secondary
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +556131422202
and.gcf@economia.gov.br
Ms. Livia Farias Ferreira de Oliveira Operational focal point
General Coordinator for Sustainable Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +55 (61) 33412-1702
livia.oliveira@fazenda.gov.br
Burkina Faso
Prime Ministry
Mr. Nebyida Lamech KABORE Primary
Policy Officer
Phone +22676 51 50 80
Phone +226 78 29 27 26
nebyidal@yahoo.fr
nebalamech@gmail.com
Mr. Basile OUEDRAOGO Secondary
Policy Officer
Phone +226 78 16 48 58
Phone +226 67 29 24 54
basileouedraogo3@yahoo.fr
Cambodia
Ministry of Environment
H.E. Dr. Sophalleth Eang Primary
Minister of Environment
Morodok Decho Building, No. 503, Chamkarmon,, Phnom Penh, Cambodia
H.E. Mr. Paris Chuop Primary
Secretary of State, Ministry of Environment
Phone (+855)17 313 366
chuop.paris@moe.gov.kh
H.E. Dr. Sovuthy Pheav Secondary
Under Secretary of State, Ministry of Environment
Phone ( +855) 16 613 355
pheav.sovuthy@moe.gov.kh
H.E. Mr. Thy Sum Tertiary
Director General, General Directorate of Policy and Strategy, Ministry of Environment
Phone (+855) 16 907 764
sum.thy@moe.gov.kh
Cameroon
Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED)
Mr. Paul Tchawa Primary
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Phone +237 696 939 011
ptchawa@yahoo.fr
Chile
Ministry of Finance
Ms. Heidi Berner Primary
Undersecretary of Finance
Teatinos 120, Santiago, Chile
Phone +56 28282007
hberner@hacienda.gov.cl
Mr. Jaime Tramon Secondary
Senior Advisor, Financial and International Affairs
Teatinos 120, Santiago, Chile
Phone +56 2 28282216
jtramon@hacienda.gov.cl
Costa Rica
Ministry of Environment and Energy
Mr. Carlos Isaac Pérez Mejía Primary
Vice-minister of Strategic Affairs
Calle 25. Av. 8-10, San Jose, Costa Rica
Ms. Enid Chaverri Tapia Primary
International Cooperation Director
Calle 25. Av. 8-10, San Jose, Costa Rica
Phone (506) 8307-8679
echaverri@minae.go.cr
Ms. Patricia Campos Mesén Secondary
International Cooperation Officer
Calle 25. Av. 8-10, San José, Costa Rica
Phone (506) 8346-1513
pcampos@minae.go.cr
Côte d'Ivoire
Minister's Office, Ministry of Environment and Sustainable Development
Mr. Marcel YAO Primary
Public Policy, Climate Change and Ecological Transition Expert / Technical Advisor to the Minister in charge of International Cooperation and Resource Mobilization
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Abidjan, Cote d'Ivoire
Phone (225) 0707791504 / 2720239900
ensamarcel@yahoo.fr
yaomarcelclimat@gmail.com
Mr. Kouadio Philippe Secondary
Deputy Director of Climate Change
Cite Administrative, Plateau, Tour D, 10eme etage - 20 BP 650 Abidjan 20, Cote d'Ivoire
Democratic Republic of the Congo (the)
National Coordination of the Green Climate Fund
Prof. Isaac KALONDA KANYAMA Primary
National Coordinator and GCF Focal Point for the Democratric Republic of the Congo
Ms. Francine KATANGA MUTANDA Secondary
Deputy GCF Coordinator
Dominica
Ministry of Finance, Economic Development, Climate Resilience and Social Security
Ms. Denise Edwards Primary
Financial Secretary
5th Floor, Financial Centre Kennedy Avenue Roseau Commonwealth of Dominica
Dr. Gerard Jean-Jacques (PhD, Political Science) Secondary
Chief Development Planner (Ag.)
5th Floor, Financial Centre Kennedy Avenue Roseau Commonwealth of Dominica
Phone (767) 266-3301
chiefdevplanner@dominica.gov.dm
Mr. Michael Savarin Operational focal point
National Programme Coordinator for GCF Programme Activities
5th Floor, Financial Centre Kennedy Avenue Roseau Commonwealth of Dominica
Phone (767) 266-4287
savarinm@dominica.gov.dm
Dominican Republic (the)
Ministry of Environment and Natural Resources
Ms. Ana Emilia Pimentel Primary
Viceminister of Climate Change and Sustainibility
Ave. Cayetano Germosén esq. Ave. Gregorio Luperón. Ensanche El Pedregal, Santo Domingo, Dominican Republic (the)
Ecuador
Ministry of Environment, Water and Ecological Transition
Mr. Ángel Sandoval Primary
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
El Salvador
Ministry of Environment and Natural Resources (MARN)
His Excellency Mr. Fernando Andrés López Larreynaga Primary
Minister of Environment and Natural Resources
Kilómetro 5 ½ Carretera a Santa Tecla, Col. Las Mercedes, Frente a Círculo Miliar, Edificios MARN, San Salvador, El Salvador
Mr. Carlos Elías Roque Bueso Secondary
Director of International Cooperation and Climate Change
Kilómetro 5 ½ Carretera a Santa Tecla, Col. Las Mercedes, Frente a Círculo Miliar, Edificios MARN, San Salvador, El Salvador
Phone +(503) 2132-9680
Phone +(503) 7850-4451
carlos.roque@ambiente.gob.sv
mamaya@ambiente.gob.sv
Fiji
Office of the Prime Minister
Honorable Sitiveni Ligamamada Rabuka Primary
Prime Minister and Minister for Climate Change
New Wing, Government Buildings,, Suva, Fiji
Dr. Sivendra Michael Primary
Permanent Secretary - Ministry of Environment and Climate Change
Mr. Ravneeth Dewan Operational focal point
Ms. Deepa Pullanikkatil Operational focal point
Ms. Genevieve Jiva Operational focal point
Ms. Elaine Sharma Operational focal point
Gabon
Conseil National Climat National Climate Council
Mr. Davy ONOMORI MBOUMBA Primary
Permanent Secretary of the National Climate Council, Special Advisor to the Gabonese President
Phone +241 (0) 60109090
davyonomoricnc@gmail.com
Ms. Zita KASSA WILKS Secondary
Advisor to the Gabonese President, National Climate Council
Phone +241 (0) 60009999
zitakassacnc@gmail.com
Guatemala
Ministry of Environment and Natural Resources
Her Excellency Ana Patricia Orantes Thomas Primary
Minister of Environment and Natural Resources of Guatemala
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Ms. Melanie Mus Figueroa Operational focal point
Head of International Cooperation
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Guinea
The National Directorate of the Environment
Mr. Pierre LAMAH Primary
Executive Secretary of the National Designated Authority of the Green Climate Fund
Coléah Lansébounyi, Commune de Matam, Conakry, Guinea
Phone +224 621 773 443
pierlam_georgsoncol17@yahoo.fr
Mr. Mamadou Oury BARRY Secondary
Substitute
Coléah Lansébounyi- Commune de Matam, Conakry, Guinea
Phone +224 622 802 465
barry8763@gmail.com
Haiti
Ministry of Environment
Mr. Astrel Joseph Primary
Director General, Ministry of Environment
Parc Industriel Metropolitain (SONAPI), Route de l' Aeroport, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
Ms. Gerty Pierre Secondary
Director for Climate Change, Ministry of Environment
Parc Industriel Metropolitain (SONAPI), Route de l' Aeroport, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
Honduras
Secretary of Energy, Natural Resources, Environment and Mines
His Excellency Lucky Halach Medina Estrada Primary
Secretary of State, Secretary of Energy, Natural Resources, Environment and Mines
Edificio Principal, 200 metros al Sur del Estadio nacional, Tegucigalpa, Honduras
Indonesia
Fiscal Policy Agency, Ministry of Finance
Mr. Febrio Kacaribu Primary
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Phone +62 21 3441 484
ndagcf-indonesia@kemenkeu.go.id
Mr. Boby Hernawan Secondary
Director of Center for Climate Finance and Multilateral Policy/Head of the NDA Secretariat
R.M. Notohamiprodjo Building 5th Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Phone +62 21 3483 1678
ndagcf-indonesia@kemenkeu.go.id
Jamaica
Ministry of Economic Growth and Job Creation (MEGJC)
Mr. Omar Alcock Primary
Senior Technical Officer
Phone 1 (876) 423-4154
omar.alcock@megjc.gov.jm
Ms. Schmoi McLean Secondary
Programme Coordination, Monitoring and Evaluation Officer
Phone 1 (876) 561-8775
Schmoi.mclean@megjc.gov.jm
Jordan
Ministry of Environment
Mr. Belal Shqarin Primary
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
Kenya
The National Treasury
Dr Chris Kiptoo Primary
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Phone +254 20 224 0051
pstnt@treasury.go.ke
Mr. Malik Aman Secondary
Programme Manager, National Coordination (FLLoCA)
Phone +254 720 771774
malikaman@me.com
Mr. Peter Odhengo Secondary
Senior Policy Advisor, Climate Finance
Phone +254 722 984 992
odhengo@gmail.com
Mr. Hillary Korir Secondary
Senior Economist
Phone +254 722 644736
hillary.korir@treasury.go.ke
Lebanon
Ministry of Environment
Ms. Hala Mounajed Primary
Head of Air Quality Department
Lazarieh Center, 7th Floor, Block A-4 Old P.O. Box 11/2727, Beirut, Lebanon
North Macedonia
Office of the President of the Government of Republic of North Macedonia
Mr. Dame Dimitrovski Primary
Special Advisor to the President of the Government of Republic of North Macedonia
Bul Ilinden nr.2, Skopje, North Macedonia
Ms. Sandra Andovska Secondary
Head of Department for Regional and Sustainable Development
Bul Ilinden 2, Skopje, North Macedonia
Phone +389 2 3118 022
Sandra.andovska@gs.gov.mk
Mali
The Environment and Sustainable Development Agency
Mr. Zantigui KONE Primary
Director General
Phone +223 78 81 08 88
zantiguibkone@yahoo.fr
Mr. Amidou GOÏTA Secondary
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone +223 71768531/66883648
amidougoita@gmail.com
Mauritania
Ministry of Environment and Sustainable Development
Mr. Moulaye Driss Primary
Secretary General
Rue Mamadou Konate, Lot 01 Immeuble du Government N.02 llot V. Tevragh Zeina, Nouakchott, Mauritania
Phone +22236612000
Phone +22248014401
mybradriss@gmail.com
Mexico
Ministry of Finance and Public Credit, Unit of Public Credit and International Affairs
Ms. Laura Elisa Aguirre Téllez Primary
Director General of International Fora and Sustainable Financing
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
Ms. H. Gabriela Niño Gómez Secondary
Director of Sustainable Financing
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
Phone +52 55 3688 1854
herandy_nino@hacienda.gob.mx
Ms. A. Astrid Morales Rivera Tertiary
Deputy Director of Climate Change
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
Phone (+52) 55 3688 1833
angelica_morales@hacienda.gob.mx
Ms. Karla Martínez Casas Tertiary
Deputy Director of International Fora
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
Phone +52 55 3688 2615
karla_martinez@hacienda.gob.mx
Montenegro
Office for Sustainable Development in the Secretariat General of the Government of Montenegro
Ms Aneta Kankaraš Primary
Head of the Office for Sustainable Development in the Secretariat General of Government of Montenegro
Karadjordjeva bb, 81000, Podgorica, Montenegro
Phone +382 20 482 880
aneta.kankaras@gsv.gov.me
Morocco
Ministry of Energy Transition and Sustainable Development- Department of Sustainable Development
Mr. Bouzekri Razi Primary
Director of Climate Change, Biodiversity, and Green Economy
Mozambique
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Mr. Albano Manjate Primary
Deputy National Director of Monitoring and Evaluation
Phone +258 828969570
Phone +258 843969570
albanomanjate@gmail.com
Myanmar
Ministry of Environmental Conservation and Forestry
Mr Hla Thein Primary
Director General, Environmental Conservation Department
Building no. 53, Oattara Thiri Township, Nay Pyi Taw, Myanmar
Phone +95 67 431 326
Phone +95 94 4853 3521
env.myan@mptmail.net.mm
hlamaungthein.env@gmail.com
Nigeria
National Council on Climate Change
Chief Ajuri Ngelale Primary
Special Presidential Envoy on Climate Action (SPEC)
Office of the President of the Federal Republic of Nigeria, State House, Abuja, Nigeria
Phone +2349092925830
spec.ngelale@statehouse.gov.ng
Dr. Nkiruka Maduekwe Primary
Director-General and Chief Executive Officer
14 Vistula Close, Maitama, FCT, Abuja, Nigeria
Phone +2349062000294
ncmaduekwe@natccc.gov.ng
Panama
Ministry of Environment
Mr. Juan Carlos Monterrey Primary
Climate Change Director
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Phone (+ 507) 500-0802
jmonterrey@miambiente.gob.pa
Mr. Ángel Cárdenas Secondary
Head of International Technical Cooperation Office
Diego Dominguez Street, Building 804 Albrook, Ancón, Panama City, Panama
Phone (+ 507) 500-0803
acardenas@miambiente.gob.pa
Rwanda
Rwanda Environment Management Authority
Mrs. Juliet Kabera Primary
Director General
Senegal
Ministry of Environment and Sustainable Development
Ms. Madeleine Sarr Primary
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala Primary
Director General
Phone +27 12 339 9007
DG@environment.gov.za
Ms. Shahkira Parker Operational focal point
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung Operational focal point
Mr. Zaheer Fakir Operational focal point
Togo
Directorate of Environment, Ministry of Environment
Ms. Méry YAOU Primary
Director of Environment
240 rue des Nîmes Lomé - Togo -, Lomé, Togo
Phone (+228) 22 21 51 97/90148744
Phone (+228) 90148744
ymery69@yahoo.fr
Mr. Komi Sossou SOSSOU Secondary
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Tunisia
Ministry of Environment and Sustainable Development
Mr. Chokri Mezghani Primary
Director of General Directorate of Sustainable Development
Ministere des Affaires Locales et l'Environnement, Cite Administrative, Rue du Developpement, Cite el Khadra, Tunis, Tunisia
Phone +216 22 74 93 62
Phone +216 70 24 38 00
chokri.mezghani@mineat.gov.tn
chokri.mezghani@yahoo.fr
Uganda
Ministry of Finance, Planning and Economic Development
Mr. Ramathan Ggoobi Primary
Permanent Secretary / Secretary to the Treasury
Phone +256414707135
ramathan.ggoobi@finance.go.ug
Ms. Maris Wanyera Secondary
Ag. Director Debt and Cash Policy
Phone +256772426456
maris.wanyera@finance.go.ug
Mr. Juvenal Muhumuza Secondary
Ag. Commissioner, Development Assistance and Regional Cooperation Department
Phone +256781051485
juvenal.muhumuza@finance.go.ug
Mr. Denis Mugagga Secondary
Head, Climate Finance Unit
Phone +256782805422
Phone +256702440655
denis.mugagga@finance.go.ug
Uruguay
Ministry of Environment
Ms. Natalie Pareja Primary
Climate Change Director
Zabala 1442, 4th FI, Uruguay CP, 11600, Montevideo, Uruguay

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.