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 2033
  • 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 - 155 days so far

FAA effective

20 Apr 2021

Disbursement - USD 50,000,000

21 May 2021

Completed

20 Apr 2033 - 4,230 days to go

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

GCF financing7% disbursed

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

Cofinancing

CofinancerInstrumentAmount
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 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
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
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
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
Dr Ludovic Ngok Banak
Sustainable Development Advisor
Phone +241 0788 9322
ngokbl@yahoo.fr
Kenya
The National Treasury
Mr. Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
ps@treasury.go.ke
Mr. Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
Mr. Hillary Korir
Economist
Rwanda
Rwanda Environment Management Authority
Mrs. Juliet Kabera
Director General
South Africa
Department of Forestry, Fisheries, and the Environment
Ms. Nomfundo Tshabalala
Director General
Phone +27 12 339 9007
DG@environment.gov.za
Ms. Shahkira Parker
Senior Policy Advisor: International Governance Management
Ms. Lucia Motloung
Mr. Zaheer Fakir
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
Phone +62 21 3441 484
ndagcf-indonesia@kemenkeu.go.id
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
Phone +62 21 3483 1678
ndagcf-indonesia@kemenkeu.go.id
Chile
Ministry of Finance
Mr. Alejandro Weber Pérez
Undersecretary of Finance
Teatinos 120, Santiago, Chile
Phone +56 2 2828 2007
aweber@hacienda.gov.cl
Mr. Joaquin Guajardo Beroiza
Focal Point Green Climate Fund
Teatinos 120 Santiago, Chile
Phone + (56) 2 28282312
jguajardo@hacienda.gov.cl
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
Mr. Fredy Antonio Chiroy Barreno
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
Mexico
Ministry of Finance and Public Credit (SHCP), Unit for Public Credit
Ms. Brenda Janeth Pequeño Vargas
General Director
Av. Insurgentes Sur 1971, Torre III, Piso 3, Col. Guadalupe Inn, Alcaldía Alvaro Obregón, C.P. 01020, Ciudad de México, Mexico
Phone +52 (55) 3888 1819
brenda_pequeno@hacienda.gob.mx
Uruguay
Ministry of Environment
Ms. Natalie Pareja
Climate Change Director
Zabala 1442, 4th FI, Uruguay CP, 11600, 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
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
Phone +216 22 74 93 62
Phone +216 70 24 38 00
chokri.mezghani@mineat.gov.tn
chokri.mezghani@yahoo.fr
Burkina Faso
Prime Ministry
Mr. Issaka Ouedraogo
Adviser to the Prime Minister/Environment Inspector
01 PO BOX 4223, Ouagadougou
Phone +226 70 00 87 69
Phone +226 76 64 95 66
isk.isk22@yahoo.fr
Brazil
Secretariat for International Affairs, Ministry of Economy
Mr. Erivaldo Alfredo Gomes
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)
Cambodia
Ministry of Environment
His Excellency Mr. Say Samal
Minister
Morodok Techo Building (Lot 503), Tonle Bassac, Chamkarmon, Phnom Penh, Cambodia
H.E. Eang Sophalleth
Secretary of State
Fiji
Ministry of Economy
Mr. Shiri Gounder
Acting Permanent Secretary for Economy
Ministry of Economy, Ro Lalablavu House, Victoria Parade, Suva, Fiji
Phone +679-3221133
shiri.gounder@economy.gov.fj
Mr. Vineil Narayan
Acting Head of Climate Change and International Cooperation Division
Ministry of Economy, Ro Lalablavu House, Victoria Parade, Suva, Fiji
Phone +679-3221168
vineil.narayan@economy.gov.fj
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
Phone +237 696 939 011
ptchawa@yahoo.fr
Mozambique
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Mr. Albano Manjate
Deputy National Director of Monitoring and Evaluation
Phone +258 828969570
Phone +258 843969570
albanomanjate@gmail.com
Nigeria
Federal Ministry of Environment
Mrs. Halima Bawa-Bwari
Deputy Director and Overseeing Head, Department of Climate Change
Plot 444, Aguiyi Ironsi Way, FCT, Abuja, Nigeria
Phone +234 803 311 9734
halimabawab@yahoo.com
Togo
Directorate of Environment, Ministry of Environment
Mr. Esso-Sam Abdou Rassidou Agrignan
Economist Manager, in charge of financial services
Phone +228 2221 3321
Phone +228 9028 0426
ragrignan80@yahoo.fr
denv_togo@yahoo.fr
Uganda
Ministry of Finance, Planning and Economic Development
Mr. Keith Muhakanizi
Permanent Secretary / Secretary to the Treasury
Phone +256 414 707 135
keith.muhakanizi@finance.go.ug
Mr. Andrew Masaba
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Haiti
Ministry of Environment
Guerline Pierre
GCF Focal Point
Parc Industriel Métropolitain, Boulevard Toussaint Louverture, Port-au-Prince, Haiti
Honduras
Ministry of Environment
Her Excellency Liliam Lizeth Rivera Hipp
Secretary of State, Secretariat of Natural Resources and Environment
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
Mr. Gustavo Padilla C.
Head of the International Coordination Office
Building 804, Albrook,, Panama
Phone (+ 507) 500-0803
gpadilla@miambiente.gob.pa
Mauritania
Ministry of Environment and Sustainable Development
Mr Sidi Mohamed El Wavi
Policy Officer and Coordinator of the National Program on Climate Change
Phone +222 4600 8383
elwavi.sm@gmail.com
Albania
Ministry of Tourism and Environment
Mr. Adrian Kamenica
Secretary General, Ministry of Tourism and Environment
Boulevard "Zhan D'Ark", No.23, Tirana, Albania
Phone +355692055393
Kamenica@turizmi.gov.al
Montenegro
Ministry of Ecology, Spatial Planning and Urbanism
Ms. Aneta Kankaras
Directorate for Climate Change and Mediterranean Affairs
IV Proleterske brigade 19, 81000, Podgorica, Montenegro
Phone +382 20 446 378
aneta.kankaras@mrt.gov.me
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
Phone +(506) 22334533
Phone +(506) 22571417
Phone +(506) 22575456
andrea.meza@minae.go.cr
despachominae@minae.go.cr
Mrs. Norma Patricia Campos Mesén
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
cambioclimatico@minae.go.cr
npcm11@gmail.com
Ecuador
Ministry of Environment and Water
Ms. Karina Maribel Barrera Moncayo
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
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Mrs. Diana Celeste Meléndez Huezo
Advisor to the Technical Cabinet
Kilometro 5 1/2 Carretera a Santa Tecla, colonia y calle Las Mercedes, Edificios MARN, San Salvador, El Salvador
Phone +(503) 2132-9343
Phone +(503) 7600-7576
celeste.melendez@marn.gob.sv
acanas@marn.gob.sv
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
Jamaica
Ministry of Housing, Urban Renewal, Environment and Climate Change (MHURECC)
Ms Una May Gordon
Principal Director, Climate Change, Ministry of Housing, Urban Renewal, Environment and Climate Change
16A Half-Way-Tree Road, Kingston 5, Jamaica
Phone +876 633 7354
Unamay.gordon@mhurecc.gov.jm
Dr Alwin Hales, JP
Permanent Secretary, Ministry of Housing, Urban Renewal, Environment and Climate Change
16A Half-way Tree Road, Kingston 5, 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
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
fatmir.bytyqi@gs.gov.mk
Mr. Daniel Josifovski, MSc
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
Myanmar
Ministry of Environmental Conservation and Forestry
Mr Hla Maung Thein
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
hlamaungthein.env@gmail.com
env.myan@mptmail.net.mm
Guinea
The National Directorate of the Environment
Mr Mohammed Lamine Doumbouya
Director
761 Conakry, Rép. de Guinée, Guinea
Phone +224 662 213 151
Phone +224 657 545 493
dml54@live.fr
Mr. Cyril Aboli
Phone +224 626659214
abolymarie75@yahoo.fr
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
Phone (+223) 66 80 57 56
bouricamara@gmail.com
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
Phone +1 (242) 322 6005
DAVIDCATES@BAHAMAS.GOV.BS
Dr. Rhianna Neely-Murphy
Head, Climate Change Unit
Phone +1 (242) 397 9468
RHIANNANEELY@BAHAMAS.GOV.BS
Democratic Republic of the Congo
National Coordination of the Green Climate Fund
Mr. Hans André Lohayo Djamba
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 Diouf Sarr
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Jordan
Ministry of Environment
Mr. Belal Moh'd Suliman Shqarin
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

Documents

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.