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




Result areas

Project timeline


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


13 Nov 2020 - 159 days

Approved by GCF Board

13 Nov 2020

FAA executed

23 Feb 2021

Under implementation

20 Apr 2021 - 588 days so far

FAA effective

20 Apr 2021

Disbursement - USD 50,000,000

21 May 2021


20 Apr 2040 - 6,354 days to go

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

GCF financing33% disbursed

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


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

GCF Contacts

General media inquiries

GCF Communications
Phone +82 32 4458 6338 (KST)
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

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 6155 (KST)
Send e-mail

Accredited Entity

Pegasus Capital Advisors
Mr. Craig Myles Cogut

Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Mr. Brian Lawrence Friedman

General Counsel & Chief Compliance Officer
750 East Main Street, Suite 600 Stamford, Stamford, United States
More contacts

National Designated Authority

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
Mr. Kouadio Kumassi Philippe Secondary
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
Mr Tanguy Gahouma Primary
Adviser to the President of the Republic, Permanent Secretary Conseil National Climat
BP 3850, Libreville, Gabon
Dr Ludovic Ngok Banak Secondary
Sustainable Development Advisor
Phone +241 0788 9322
The National Treasury
Mr. Abdul Malik Aman Primary
Mr. Julius Muia Primary
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
Mr. Hillary Korir Primary
Rwanda Environment Management Authority
Mrs. Juliet Kabera Primary
Director General
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala Primary
Director General
Phone +27 12 339 9007
Ms. Shahkira Parker Operational focal point
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung Operational focal point
Mr. Zaheer Fakir Operational focal point
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
Mrs. Dian Lestari Secondary
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
Phone +62 21 3483 1678
Ministry of Finance
Ms. Claudia Sanhueza Primary
Teatinos 120, Santiago, Chile
Phone +56 2 28282007
Mr. Joaquin Guajardo Beroiza Secondary
Focal Point Green Climate Fund
Teatinos 120 Santiago, Chile
Phone + (56) 2 28282312
Ministry of Environment and Natural Resources
His Excellency Mario Roberto Rojas Espino Primary
Minister of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Mr. Fredy Antonio Chiroy Barreno Secondary
Deputy Minister, Ministry of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Ms. Jenifer Andrea Calderón Cintora Secondary
Director of International Cooperation
7 Avenida 03-67 Zona 13, Guatemala City, Guatemala
Ministry of Finance and Public Credit (SHCP), Unit for Public Credit
Ms. Laura Elisa Aguirre Téllez Primary
Director General, Unit for Public Credit and International Affairs, SHCP
Av. Insurgentes Sur 1971, Plaza Inn, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Álvaro Obregón, Ciudad de México, Mexico
Phone + 52 (55) 36 88 18 73
Ministry of Environment
Ms. Natalie Pareja Primary
Climate Change Director
Zabala 1442, 4th FI, Uruguay CP, 11600, Montevideo, Uruguay
Ministry of Energy Transition and Sustainable Development- Department of Sustainable Development
Mr. Bouzekri Razi Primary
Director of Climate Change, Biodiversity, and Green Economy
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
Burkina Faso
Prime Ministry
Mr. Nebyida Lamech KABORE Primary
Policy Officer
Phone +22676 51 50 80
Phone +226 78 29 27 26
Mr. Basile OUEDRAOGO Secondary
Policy Officer
Phone +226 78 16 48 58
Phone +226 67 29 24 54
Secretariat for International Affairs, Ministry of Economy
Mr. Marco Aurélio dos Santos Rocha Primary
Secretary for International Economic Affairs
Esplanada dos Ministérios, Bloco K, 8° andar, Brasilia, Brazil
Phone +55 61 2020-4654
Ms. Raquel Breda dos Santos Secondary
General Coordinator for Global Development Institutions
Esplanada dos Ministérios, Bloco K, 8° andar - Sala 874, Brasilia, Brazil
Phone +55 (61) 2020-4603
Mr. Luiz Mauricio de Araújo Navarro Operational focal point
Coordinator for Policies and Funds for Development Finance
Esplanada dos Ministérios, Bloco K, 8° andar - Sala 874, Brasilia, Brazil
Phone +55 (61) 2020-4603
Dominican Republic
Ministry of Environment and Natural Resources
Ms. Milagros De Camps German Primary
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
His Excellency Mr. Say Samal Primary
Morodok Techo Building (Lot 503), Tonle Bassac, Chamkarmon, Phnom Penh, Cambodia
H.E. Eang Sophalleth Secondary
Secretary of State
Ministry of Economy
Mr. Shiri Krishna Gounder Primary
Permanent Secretary for Economy
Mr. Kushaal Raj Secondary
Acting Head of Climate Change and International Cooperation Division
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
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
Federal Ministry of Environment
Dr. Iniobong Abiola-Awe Primary
Director of the Department of Climate Change
Phone +2348034452959
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
Mr. Komi Sossou SOSSOU Secondary
Environmentalist, head of planning unit
240 rue des Nîmes Lomé - Togo, Lomé, Togo
Ministry of Finance, Planning and Economic Development
Mr. Ramathan Ggoobi Primary
Permanent Secretary / Secretary to the Treasury
Phone +256414707135
Mr. Andrew Masaba Secondary
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Ministry of Environment
Guerline Pierre Primary
GCF Focal Point
Parc Industriel Métropolitain, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
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
Ministry of Environment
His Excellency Milciades Concepción Primary
Minister of Environment
Building 804, Albrook, Panama
Mr. Bolivar Cañizales Secondary
Deputy Operational Focal Point, Head of the Department of Environment and Climate Change, Directorate of International Organizations and Conferences of the Ministry of Foreign Affairs
Phone (507) 511-4256
Ms. Ligia Castro de Doens Operational focal point
Operational Focal Point, Director of Climate Change of the Ministry of Environment
Phone (507) 500-0855
Ministry of Environment and Sustainable Development
Mr Sidi Mohamed El Wavi Primary
Policy Officer and Coordinator of the National Program on Climate Change
Phone +222 4600 8383
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
Ministry of Ecology, Spatial Planning and Urbanism
Ms. Aneta Kankaras Primary
Directorate for Climate Change and Mediterranean Affairs
IV Proleterske brigade 19, 81000, Podgorica, Montenegro
Phone +382 20 446 378
Costa Rica
Ministry of Environment and Energy
Her Excellency Andrea Meza Murillo Primary
Minister of Environment and Energy
Calle 5. Av. 8-10, San José, Costa Rica
Phone +(506) 22334533
Phone +(506) 22571417
Phone +(506) 22575456
Mrs. Norma Patricia Campos Mesén Secondary
Director of the Climate Change Directorate
Esquina Calle Ronda, Barrio Dent, Centro de Cambio Climático, San José, Costa Rica
Phone +(506) 22564298
Phone +(506) 83461513
Ministry of Environment and Water
Ms. Karina Maribel Barrera Moncayo 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
Mrs. Eva Maria Colorado Panameño 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) 7634-8833
Ministry of Economic Affairs, Planning, Resilience, Sustainable Development, Telecommunications and Broadcasting
Dr. Kyra Paul L’Homme Primary
Acting Chief Development Officer
5th Floor, Financial Centre, Kennedy Avenue, Roseau, Dominica
Ministry of Economic Growth and Job Creation (MEGJC)
Ms Una May Gordon Primary
Principal Director, Climate Change
25 Dominica Drive Kingston 5, Kingston, Jamaica
North Macedonia
Cabinet of the Deputy President of the Government in Charge for Economic Affairs and Coordination of Economic Sectors
His Excellency Mr. Fatmir Bytyqi Primary
Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Bul Ilinden nr.2, 1000 Skopje, North Macedonia
Phone +389 2 3114 258
Phone +389 2 3118 022
Ms. Sandra Andovska Primary
Advisor for sustainable development to the Deputy President of the Government of Republic of North Macedonia in charge of economic affairs, coordination of economic departments and investments
Bul Ilinden 2, Skopje, North Macedonia
Phone +389 2 3118 022
Ms. Teodora Grncharova Obradovikj, PhD Secondary
State Counselor on Climate Change, Ministry of environment and physical planning
Ministry of Environmental Conservation and Forestry
Mr Hla Maung 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
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
Mr. Mamadou Oury BARRY Secondary
Coléah Lansébounyi- Commune de Matam, Conakry, Guinea
Phone +224 622 802 465
The Environment and Sustainable Development Agency
Dr. Allassane BA Primary
General Director, Agence de l'Environnement et du Developpement Durable (AEDD)
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone +22376737364
Mr. Amidou GOÏTA Secondary
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone +223 71768531/66883648
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
Dr. Rhianna Neely Secondary
Director, Department of Environmental Planning and Protection Ministry of Environment and Natural Resources
Phone 1(242)322-4546
Ms. Christine Monica Thompson Secondary
Deputy Director Economics, Ministry of Finance
Phone 1(242)702-1586
Democratic Republic of the Congo
National Coordination of the Green Climate Fund
Mr. Hans André Lohayo Djamba Primary
15, Avenue Papa Iléo (ex-des Cliniques) Commune de la Gombe, Kinshasa, Democratic Republic of the Congo (the)
Ministry of Environment and Sustainable Development
Ms. Madeleine Diouf Sarr Primary
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Ministry of Environment
Mr. Belal Moh'd Suliman Shqarin Primary
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
Ministry of Environment
Ms. Samar Malek Primary
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.