FP180
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.
Project timeline
Pipeline
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
Approved
07 Oct 2021 - 264 days
Approved by GCF Board
07 Oct 2021
FAA executed
01 Apr 2022
Under implementation
27 Jun 2022 - 341 days so far
FAA effective
27 Jun 2022
Disbursement - USD 25,000,000
31 Aug 2022
Disbursement - USD 25,000,000
09 May 2023
Completed
Three regions
- Latin America and the Caribbean
- Africa
- Asia-Pacific
Seventeen countries
- Bahamas
- Belize
- Brazil
- Colombia
- Comoros (the)
- Ecuador
- Fiji
- Guatemala
- Indonesia
- Jamaica
- Jordan
- Mexico
- Mozambique
- Panama
- Philippines (the)
- Seychelles
- Sri Lanka
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
| Instrument | Amount |
|---|---|
| Equity | USD 125,000,000 |
| Total GCF Financing |
|---|
| USD 125,000,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Equity | USD 375,000,000 |
| Total Co-Financing |
|---|
| USD 375,000,000 |
GCF Contacts
General media inquiries
GCF CommunicationsPhone +82 32 4458 6338 (KST)
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 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
Founder, Chairman & CEO
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
More contacts
National Designated Authority
Office of the Prime Minister
Special Advisor for Climate Change & Environmental Matters
Sir Cecil Wallace Whitfield Center, Nassau, Bahamas
Director, Department of Environmental Planning and Protection Ministry of Environment and Natural Resources
Deputy Director Economics, Ministry of Finance
Ministry of Finance, Economic Development & Investment
Chief Executive Officer
Sir Edney Cain Building, First Floor, Right Wing, Belmopan, Belize
Economist/Green Climate Fund Focal Point, Policy and Planning Unit
Secretariat for International Affairs, Ministry of Finance
Secretary for International Affairs
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
Deputy Secretary for Sustainable Development Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
General Coordinator for Sustainable Finance
Esplanada dos Ministérios, Bloco P, 6° andar, Brasilia, Brazil
National Planning Department
Director of Environment and Sustainable Development
Calle 26 No. 13-19, Bogotá, D.C, Colombia
Climate Finance Leader
Calle 26 No. 13-19, Bogotá, D.C, Colombia
Ministry of Agriculture, Fisheries, and Environment
Head, Department and National Directorate of Agricultural and Strategies of Livestock & National Expert on Climate Change
P.O. Box 41, Moroni, Comoros (the)
Ministry of Environment and Water
Undersecretary of Climate Change
Av. Madrid 1159 y Andalucía, Quito, Ecuador
Office of the Prime Minister
Prime Minister and Minister for Climate Change
New Wing, Government Buildings,, Suva, Fiji
Director - Climate Change Division, Office of the Prime Minister
Manager - Climate Change Division, Office of the Prime Minister
Ministry of Environment and Natural Resources
Minister of Environment and Natural Resources
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
Phone (502) 2423-0500
gebarrios@marn.gob.gt
gvalladares@marn.gob.gt
nomendoza@marn.gob.gt
Vice-minister of Natural Resources and Climate Change
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
Coordinator of the International Cooperation Unit
7 Avenue 06-67 zone 13, Guatemala City, Guatemala
Fiscal Policy Agency, Ministry of Finance
Chairman of Fiscal Policy Agency, Ministry of Finance
R.M. Notohamiprodjo Building 2nd Floor, Jalan Dr. Wahidin Raya No. 1, Jakarta, Indonesia
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
Ministry of Economic Growth and Job Creation (MEGJC)
Principal Director, Climate Change
25 Dominica Drive Kingston 5, Kingston, Jamaica
Ministry of Environment
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
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
laura_aguirre@hacienda.gob.mx
dir_fs@hacienda.gob.mx
mexico_gcf@hacienda.gob.mx
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Deputy National Director of Monitoring and Evaluation
Ministry of Environment
Minister of Environment
Building 804, Albrook, Panama
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
Operational Focal Point, Director of Climate Change of the Ministry of Environment
Department of Finance
Department of Finance Building. Roxas Boulevard, Cor. P. Ocampo Street, Manila, Philippines (the)
Assistant Secretary
Seychelles Sustainable Development Strategy (SSDS) Inter-sectoral Steering Committee
Principal Secretary, Ministry of Environment and Energy
Botanical Gardens, P.O. Box 445, Mon Fleuri, Mahé, Seychelles, Seychelles
Ministry of Environment
Secretary
No. 416/C/1, "Sobadam Piyasa" Robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Director, Climate Change Secretariat
Sobadam Piyasa, No. 416/C/1, robert Gunawardana Mawatha, Battaramulla, Sri Lanka
Documents
| Title | Type | Date |
|---|---|---|
| Global Fund for Coral Reefs Investment Window | Approved funding proposal | 23 Nov 2021 |
| Global fund for coral reefs investment window (GFCR) | Case study | 26 Oct 2021 |
| Environmental and social safeguards (ESS) report for FP180: Global Fund for Coral Reefs Investment Window | Environmental and Social Safeguards report | 14 Sep 2021 |
| Gender action plan for FP180: Global Fund for Coral Reefs Investment Window | Gender action plan | 14 Sep 2021 |
| Gender assessment for FP180: Global Fund for Coral Reefs Investment Window | Gender assessment | 14 Sep 2021 |
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.