Global Fund for Coral Reefs Investment Window

Global Fund for Coral Reefs Investment Window

Coral reefs are among the world’s most threatened ecosystems by climate change impacts.  And drivers such as overfishing, agricultural run-off, sewage discharge and unsustainable tourism degrade the coral reefs, further decreasing their chance of survival.  Studies have shown that local management of such threats can alleviate the impacts of climate change on the coral reefs.  Thus, supporting and providing capital to businesses and companies for the sustainable use of ocean resources can considerably improve the resilience of reefs and the communities that depend on them.

As GCF’s first at-scale private sector programme in the blue economy, the Global Fund for Coral Reefs Investment Window (implemented with Pegasus Capital Advisors LP) will create a private equity fund to encourage investments in the blue economy, protecting coral reefs. Targeting 17 countries in Africa, the Asia-Pacific, Latin America and the Caribbean it aims to address critical financing and private investment barriers centred around the blue economy. GCF will act as anchor investor with its USD 125 million investment commitment, encouraging further public and private sector investment in the following areas:  sustainable ocean production, ecotourism, and sustainable infrastructure and waste management.   Additionally, the programme will benefit from synergies with the GFCR Grant Window, which aims to mobilise USD 125 million of concessional capital from philanthropies and other agencies in order to foster an enabling environment for seeding a pipeline of investment-ready projects.

Total project value






Result areas

Project timeline


17 Apr 2021 - 174 days

Concept note received

17 Apr 2021

Funding proposal received

01 Jun 2021

Legal opinion on AE's Internal Approval

28 Jun 2021

Cleared by GCF Secretariat

21 Jul 2021

Cleared by iTAP

14 Sep 2021


07 Oct 2021 - 264 days

Approved by GCF Board

07 Oct 2021

FAA executed

01 Apr 2022

Under implementation

27 Jun 2022 - 456 days so far

FAA effective

27 Jun 2022

Disbursement - USD 25,000,000

31 Aug 2022

Disbursement - USD 25,000,000

09 May 2023


Three regions

  • Latin America and the Caribbean
  • Africa
  • Asia-Pacific

Seventeen countries

Three priority groups

  • Least Developed Countries
  • Small Island Developing States
  • African States
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing40% disbursed

EquityUSD 125,000,000
Total GCF Financing
USD 125,000,000


Co-FinancingEquityUSD 375,000,000
Total Co-Financing
USD 375,000,000

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 Cogut

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

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

National Designated Authority

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 Thompson Secondary
Deputy Director Economics, Ministry of Finance
Phone 1(242)702-1586
Ministry of Finance, Economic Development & Investment
Dr. Osmond Martinez Primary
Chief Executive Officer
Sir Edney Cain Building, First Floor, Right Wing, Belmopan, Belize
Phone +501 825-2526 or 2527
Mr. Leroy Josiah Martinez Secondary
Economist/Green Climate Fund Focal Point, Policy and Planning Unit
Phone +501 822-2526/2527
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
Mr. Ivan Tiago Machado Oliveira Secondary
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Phone +556131422202
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
National Planning Department
Ms. Carolina Díaz Primary
Director of Environment and Sustainable Development
Calle 26 No. 13-19, Bogotá, D.C, Colombia
Ms. Jimena Cortés Secondary
NDA Technical Advisor
Calle 26 # 13 - 19, Bogotá, D.C., Colombia
Phone +57 601 3815000
Comoros (the)
Ministry of Agriculture, Fisheries, and Environment
Mr. Youssouf Hamadi Primary
Head, Department and National Directorate of Agricultural and Strategies of Livestock & National Expert on Climate Change
P.O. Box 41, Moroni, Comoros (the)
Phone +269 333 0790
Ministry of Environment and Water
Ms. Karina Maribel Barrera Moncayo Primary
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Office of the Prime Minister
Honorable Sitiveni Ligamamada Rabuka Primary
Prime Minister and Minister for Climate Change
New Wing, Government Buildings,, Suva, Fiji
Mr. Kushaal Raj Primary
Director - Climate Change Division, Office of the Prime Minister
Phone +6793221219
Mr. Prashant Chandra Secondary
Manager - Climate Change Division, Office of the Prime Minister
Ministry of Environment and Natural Resources
His Excellency Gerson Elías Barrios Garrido Primary
Minister of Environment and Natural Resources
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
Phone (502) 2423-0500
Phone (502) 2423-0500
Mr. Héctor Francisco Espinoza García Primary
Vice-minister of Natural Resources and Climate Change
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
Phone (502) 2423-0500
Phone (502) 2423-0500
Mr. Norman Octavio Mendoza Dominguez Secondary
Coordinator of the International Cooperation Unit
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
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
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 Economic Growth and Job Creation (MEGJC)
Mr. Omar Alcock Primary
Senior Technical Officer
Phone 1 (876) 423-4154
Ms. Schmoi McLean Secondary
Programme Coordination, Monitoring and Evaluation Officer
Phone 1 (876) 561-8775
Ministry of Environment
Mr. Belal Shqarin Primary
Director, Climate Change Directorate
King Faisal Bin Abd Aziz Street, 83 Um Uthaina, Amman, Jordan
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
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
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
Philippines (the)
Department of Finance
Secretary Benjamin Diokno Primary
Department of Finance Building. Roxas Boulevard, Cor. P. Ocampo Street, Manila, Philippines (the)
Mr. Mark Dennis Joven Primary
Phone +63 2 8523-4955
Mr. Neil Adrian Cabiles Secondary
Assistant Secretary
Seychelles Sustainable Development Strategy (SSDS) Inter-sectoral Steering Committee
Mr. Wills Agricole Primary
Principal Secretary, Ministry of Environment and Energy
Botanical Gardens, P.O. Box 445, Mon Fleuri, Mahé, Seychelles, Seychelles
Phone +248 4670 512
Sri Lanka
Ministry of Environment
Dr. Anil Jasinghe Primary
No. 416/C/1, "Sobadam Piyasa" Robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Phone +94-11-2034121
Phone +94-11-2034122
Mr. Leel Randeni Secondary
Director, Climate Change Secretariat
Sobadam Piyasa, No. 416/C/1, robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Phone +94 (0) 714421689
Phone +94 (0) 112034193

News + Stories

GCF partnership with Pegasus set to protect coral reefs across 17 countries

06 Apr 2022 / The Green Climate Fund’s (GCF’s) first private sector support for the blue economy has taken a step further in bolstering coral reefs from the climate crisis. GCF has signed a funded activity agreement with Pegasus Capital Advisors to unlock USD 125 million of GCF investments in the Global Fund for Coral Reef, an innovative programme which harnesses private sector finances to increase the resilience of coral reefs.

Global Fund for Coral Reefs brings together grant and investment windows at GCF COP26 event

11 Nov 2021 / The Green Climate Fund (GCF) brought together a unique ecosystem of climate action practitioners including private market champions and nature custodians who share a common goal of saving coral reefs during the international climate change meeting in Glasgow. The “Global Fund for Coral Reefs: Reef-based Climate Resilience Finance” event, held on the side lines of COP26, showed what can be achieved when you combine a diverse mix of actors from the public and private sectors to pursue a common cause.