In carrying out its mandate of promoting a paradigm shift towards low-emission and climate-resilient development pathways in the context of sustainable development, GCF will effectively and equitably manage environmental and social risks and impacts, and improve outcomes of all GCF-financed activities.
This is facilitated by a set of management processes and procedures that allow GCF to identify, analyse, avoid, minimise, and mitigate any potential adverse environmental and social impacts of its activities, to maximise environmental and social benefits, and to improve the environmental and social performance of GCF and its activities consistently over time. This system of processes and procedures is an overarching framework for achieving improvements in environmental and social outcomes while addressing any unintended adverse impacts of all the GCF-financed activities. It provides an opportunity for GCF to incorporate environmental and social considerations into its decision-making and operations in ways that not only include safeguard measures of “do no harm”, but also identify opportunities to “do good” and improve environmental and social outcomes.
The GCF Environmental and Social Policy
The GCF Environment and Social Policy is an essential element of this system, elaborating the commitment of GCF to integrate environmental and social issues into its decision-making and outcomes, and establishes the principles, requirements, and responsibilities to deliver on these commitments.
The policy reflects the broad consensus on GCF commitments to achieve environmental and social benefits and avoid harm in all the activities undertaken and supported and the importance to clearly convey these to stakeholders and communities. It articulates how GCF integrates environmental and social considerations into its decision-making and operations to effectively manage environmental and social risks and impacts and improve outcomes. This policy presents the commitments of GCF and articulates the principles and standards to which GCF will hold itself accountable. Through this policy, GCF will require that all GCF-supported activities will commit to:
- Avoid, and where avoidance is impossible, mitigate adverse impacts to people and the environment;
- Enhance equitable access to development benefits; and
- Give due consideration to vulnerable populations, groups, and individuals (including women, children, and people with disabilities, and people marginalised by virtue of their sexual orientation or gender identity), local communities, indigenous peoples, and other marginalised groups of people and individuals that are affected or potentially affected by GCF-financed activities.