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
Cleared by iTAP
19 Oct 2020
Approved
13 Nov 2020 - 16 days so far
Approved by GCF Board
13 Nov 2020
Under implementation
Completed
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
USD
-
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 10 4458 7751
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 6157
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6155
Send e-mail
Accredited Entity
Pegasus Capital Advisors
Mr. Craig Cogut
Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Founder, Chairman & CEO
750 East Main Street, Suite 600 Stamford, Stamford, United States
Mr. Brian Friedman
General Counsel & Chief Compliance Officer
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
Côte d'Ivoire
Bureau of Climate Change (BCC), Ministry of Environment and Sustainable Development
Gabon
Conseil National Climat National Climate Council
Mr Tanguy Gahouma
Adviser to the President of the Republic, Permanent Secretary Conseil National Climat
BP 3850, Libreville, Gabon
Adviser to the President of the Republic, Permanent Secretary Conseil National Climat
BP 3850, Libreville, Gabon
Kenya
The National Treasury
Mr. Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Rwanda
Rwanda Environment Management Authority
South Africa
Department of Environmental Affairs
Indonesia
Fiscal Policy Agency, Ministry of Finance
Mr. Febrio Kacaribu
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
Mrs. Dian Lestari
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
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
Chile
Ministry of Finance
Mr. Francisco Moreno Guzmán
Undersecretary
Teatinos 120, Santiago, Chile
Undersecretary
Teatinos 120, Santiago, Chile
Ms. Trinidad Lecaros Cox
Macroeconomic Analyst, Sustainable Development and Natural Resources Area
Teatinos 120, Santiago, Chile
Macroeconomic Analyst, Sustainable Development and Natural Resources Area
Teatinos 120, Santiago, Chile
Guatemala
Ministry of Environment and Natural Resources
His Excellency Mario Roberto Rojas Espino
Minister of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Minister of Environment and Natural Resources
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Mr. Fredy Antonio Chiroy Barreno
Deputy Minister, Ministry 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
Mr. Juan Carlos Diaz Contreras
Director of International Cooperation
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Director of International Cooperation
7a. Avenue 03-67 Zone 13, Guatemala City, Guatemala
Mexico
Ministry of Finance and Public Credit
Ms. María Fernanda Lara
Director for Sustainable Financing
Av. Insurgentes Sur 1971, Torre III, Piso 3, Col. Guadalupe Inn, Delegación Alvaro Obregón,, Mexico City, Mexico
Director for Sustainable Financing
Av. Insurgentes Sur 1971, Torre III, Piso 3, Col. Guadalupe Inn, Delegación Alvaro Obregón,, Mexico City, Mexico
Uruguay
Ministry of Environment
Ms. Natalie Pareja
Climate Change Director
Torre Ejecutiva 710, Plaza Independencia 6th Floor, Montevideo, Uruguay
Climate Change Director
Torre Ejecutiva 710, Plaza Independencia 6th Floor, Montevideo, Uruguay
Morocco
Ministry of Energy, Mining and Sustainable Development, Secretariat of State for Sustainable Development
Mr. Bouzekri Razi
Director of Climate Change, Biodiversity, and Green Economy
Director of Climate Change, Biodiversity, and Green Economy
Tunisia
Ministry of Environment and Sustainable Development
Mr. Chokri Mezghani
Director of General Directorate of Sustainable Development
Ministere des Affaires Locales et l'Environnement, Cite Administrative, Rue du Developpement, Cite el Khadra, Tunis, Tunisia
Director of General Directorate of Sustainable Development
Ministere des Affaires Locales et l'Environnement, Cite Administrative, Rue du Developpement, Cite el Khadra, Tunis, Tunisia
Burkina Faso
Prime Ministry
Mr. Issaka Ouedraogo
Adviser to the Prime Minister/Environment Inspector
01 PO BOX 4223, Ouagadougou
Adviser to the Prime Minister/Environment Inspector
01 PO BOX 4223, Ouagadougou
Brazil
Secretariat for International Affairs, Ministry of Economy
Mr. Erivaldo Gomes
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 2° andar, Sala 219, Brasília (DF), Brazil
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 2° andar, Sala 219, Brasília (DF), Brazil
Dominican Republic
Ministry of Environment and Natural Resources
Ms. Milagros DE CAMPS GERMAN
Deputy Minister of International Cooperation
Avenida Cayetano Germosén esq. Avenida Gregorio Luperón, Ensanche El Pedregal, Santo Domingo, Distrito Nacional, Dominican Republic (the)
Deputy Minister of International Cooperation
Avenida Cayetano Germosén esq. Avenida Gregorio Luperón, Ensanche El Pedregal, Santo Domingo, Distrito Nacional, Dominican Republic (the)
Cambodia
Ministry of Environment
His Excellency Mr. Say Samal
Minister
Morodok Techo Building (Lot 503), Tonle Bassac, Chamkarmon, Phnom Penh, Cambodia
Minister
Morodok Techo Building (Lot 503), Tonle Bassac, Chamkarmon, Phnom Penh, Cambodia
H.E. Sum Thy
Deputy Secretary General, National Council for Sustainable Development
Deputy Secretary General, National Council for Sustainable Development
Fiji
Ministry of Economy
Ms. Makereta Konrote
Permanent Secretary for Economy
P.O. Box 2212, Government Buildings Suva, Fiji, Suva, Fiji
Permanent Secretary for Economy
P.O. Box 2212, Government Buildings Suva, Fiji, Suva, Fiji
Cameroon
Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED)
Mr. Paul Tchawa
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Secretary General
Boulevard du 20 Mai, Immeuble Ministériel No. 2, P.O Box 320, Yaoundé, Cameroon
Mozambique
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Mr. Albano Manjate
Deputy National Director of Monitoring and Evaluation
Deputy National Director of Monitoring and Evaluation
Nigeria
Federal Ministry of Environment
Mrs. Halima Bawa-Bwari
Plot 444, Aguiyi Ironsi Way, FCT, Abuja, Nigeria
Plot 444, Aguiyi Ironsi Way, FCT, Abuja, Nigeria
Togo
Directorate of Environment, Ministry of Environment
Mr. Esso-Sam Rassidou Agrignan
Economist Manager, in charge of financial services
Economist Manager, in charge of financial services
Uganda
Ministry of Finance, Planning and Economic Development
Mr. Keith Muhakanizi
Permanent Secretary / Secretary to the Treasury
Permanent Secretary / Secretary to the Treasury
Mr. Andrew Masaba
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Phone +256 782 177 125
Phone +256 414 707 161
andrew.masaba@finance.go.ug
Juvenal.Muhumuza@finance.go.ug
Isaac.Katabalwa@finance.go.ug
Phone +256 414 707 161
andrew.masaba@finance.go.ug
Juvenal.Muhumuza@finance.go.ug
Isaac.Katabalwa@finance.go.ug
Haiti
Ministry of Environment
Guerline Pierre
GCF Focal Point
Parc Industriel Métropolitain, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
GCF Focal Point
Parc Industriel Métropolitain, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
Honduras
Ministry of Energy, Natural Resources, Environment and Mining
His Excellency Elvis Yovanni Rodas Flores
Secretary of State
Edificio Principal, 200 metros al Sur del Estadio Nacional, Tegucigalpa, Honduras
Secretary of State
Edificio Principal, 200 metros al Sur del Estadio Nacional, Tegucigalpa, Honduras
Panama
Ministry of Environment
His Excellency Milciades Concepción
Minister of Environment
Building 804, Albrook, Panama
Minister of Environment
Building 804, Albrook, Panama
Mr. Gustavo Padilla C.
Head of the International Coordination Office
Building 804, Albrook,, Panama
Head of the International Coordination Office
Building 804, Albrook,, Panama
Mauritania
Ministry of Environment and Sustainable Development
Mr Sidi El Wavi
Policy Officer and Coordinator of the National Program on Climate Change
Policy Officer and Coordinator of the National Program on Climate Change
Albania
Ministry of Tourism and Environment
Ms Ornela Cuci
Deputy Minister of the Ministry of Tourism and Environment
Boulevard "Zhan D'Ark", No.23, Tirana, Albania
Deputy Minister of the Ministry of Tourism and Environment
Boulevard "Zhan D'Ark", No.23, Tirana, Albania
Montenegro
Ministry of Sustainable Development and Tourism
Mr. Esef Husic
Director General for Climate Change
19, IV Proleterske St., Podgorica
Director General for Climate Change
19, IV Proleterske St., Podgorica
Costa Rica
Ministry of Environment and Energy
Her Excellency Andrea Meza Murillo
Minister of Environment and Energy
Calle 5. Av. 8-10, San José, Costa Rica
Minister of Environment and Energy
Calle 5. Av. 8-10, San José, Costa Rica
Phone +(506) 22334533
Phone +(506) 22571417
Phone +(506) 22575456
andrea.meza@minae.go.cr
despachominae@minae.go.cr
Phone +(506) 22571417
Phone +(506) 22575456
andrea.meza@minae.go.cr
despachominae@minae.go.cr
Mrs. Norma Campos Mesén
Director of the Climate Change Directorate
Esquina Calle Ronda, Barrio Dent, Centro de Cambio Climático, San José, Costa Rica
Director of the Climate Change Directorate
Esquina Calle Ronda, Barrio Dent, Centro de Cambio Climático, San José, Costa Rica
Ecuador
Ministry of Environment and Water
Mr. Humberto Re Carrera
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
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
Minister of Environment and Natural Resources (MARN)
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Minister of Environment and Natural Resources (MARN)
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Mr. Antonio Cañas Calderon
Chief of Technical Cabinet and National Focal Point to the UNFCCC
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN,, San Salvador, El Salvador
Chief of Technical Cabinet and National Focal Point to the UNFCCC
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN,, San Salvador, El Salvador
Dominica
Ministry of Economic Affairs, Planning, Resilience, Sustainable Development, Telecommunications and Broadcasting
Dr. Kyra Paul L’Homme
Acting Chief Development Officer
5th Floor, Financial Centre, Kennedy Avenue, Roseau, Dominica
Acting Chief Development Officer
5th Floor, Financial Centre, Kennedy Avenue, Roseau, Dominica
Jamaica
Ministry of Economic Growth and Job Creation
Ms Una Gordon
Principal Director, Climate Change Division
16A Half-Way-Tree Road, Kingston 5, Jamaica, Kingston, Jamaica
Principal Director, Climate Change Division
16A Half-Way-Tree Road, Kingston 5, Jamaica, Kingston, Jamaica
Mr Omar Alcock
Senior Technical Officer (Mitigation)
16A Halfway Tree Road, Kingston 5, Kingston, Jamaica
Senior Technical Officer (Mitigation)
16A Halfway Tree Road, Kingston 5, Kingston, Jamaica
North Macedonia
Cabinet of the Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
His Excellency Mr. Fatmir Bytyqi
Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Bul Ilinden nr.2, 1000 Skopje, North Macedonia
Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Bul Ilinden nr.2, 1000 Skopje, North Macedonia
Mr. Daniel Josifovski, MSc
Advisor, Cabinet of the Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Advisor, Cabinet of the Deputy Prime Minister in Charge of Economic Affairs, Coordination of Economic Sectors and Investments
Ms. Teodora Grncharova Obradovikj, PhD
State Counselor on Climate Change, Ministry of environment and physical planning
State Counselor on Climate Change, Ministry of environment and physical planning
Myanmar
Ministry of Environmental Conservation and Forestry
Mr Hla Thein
Director General, Environmental Conservation Department
Environmental Conservation Department Building no. 53, Oattara Thiri Township Nay Pyi Taw, Myanmar, Nay Pyi Taw, Myanmar
Director General, Environmental Conservation Department
Environmental Conservation Department Building no. 53, Oattara Thiri Township Nay Pyi Taw, Myanmar, Nay Pyi Taw, Myanmar
Guinea
The National Directorate of the Environment
Mr Mohammed Doumbouya
Director
761 Conakry, Rép. de Guinée, Guinea
Director
761 Conakry, Rép. de Guinée, Guinea
Mr. Cyril Aboli
Mali
The Environment and Sustainable Development Agency
Mr Boureima Camara
Director General of the Environment and Sustainable Development Agency
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Director General of the Environment and Sustainable Development Agency
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Bahamas
Ministry of the Environment and Housing
Mr. David Cates
Permanent Secretary, Ministry of the Environment and Housing
Charlotte House, 2nd Floor North Wing, Charlotte & Shirley Streets, Nassau, Bahamas
Permanent Secretary, Ministry of the Environment and Housing
Charlotte House, 2nd Floor North Wing, Charlotte & Shirley Streets, Nassau, Bahamas
Dr. Rhianna Neely-Murphy
Head, Climate Change Unit
Head, Climate Change Unit
Democratic Republic of the Congo
National Coordination of the Green Climate Fund
Mr. Hans Djamba
Coordinator
15, Avenue Papa Iléo (ex-des Cliniques) Commune de la Gombe, Kinshasa, Democratic Republic of the Congo (the)
Coordinator
15, Avenue Papa Iléo (ex-des Cliniques) Commune de la Gombe, Kinshasa, Democratic Republic of the Congo (the)
Senegal
Ministry of Environment and Sustainable Development
Ms. Madeleine Sarr
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Jordan
Ministry of Environment
Mr. Belal Shqarin
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
Lebanon
Ministry of Environment
Ms. Samar Malek
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
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