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GCF launches online submission system for SAP projects

Today, GCF launches the Online Submission System (OSS) for Simplified Approval Process (SAP) projects. This innovative solution for submitting SAP concept notes and funding proposals to GCF will improve the efficiency of managing SAP proposals and the transparency of the review process. Beginning 6 May, all GCF Accredited Entities and National Designated Authorities/Focal Points will be able to access the OSS and submit their SAP proposals online. From 15 June 2019, the OSS should be the standard way of submitting SAP proposals, and e-mail submissions only used in exceptional circumstances.

Adaptation: Accelerating action towards a climate resilient future

At Korea Global Adaptation Week in Songdo, GCF launched a new working paper, Adaptation: Accelerating Action Towards a Climate Resilient Future, to contribute to adaptation knowledge from the perspective of climate financing. The working paper provides an overview of adaptation and resilience challenges, as well as the distinction between them. Read the Executive Director's opening remarks at the launch of the paper.

Importance of adaptation planning highlighted at Korea Global Adaptation Week

The Korea Global Adaptation Week (KGAW), which concludes in Songdo today, emphasised the importance of adaptation planning for catalysing climate action and adaptation finance at the scale needed by developing countries. Effective adaptation planning can be done through a combination of approaches. GCF organised a Regional Technical Expert Meeting on Adaptation (TEM-A) on how to enhance the participation of the private sector in financing adaptation to climate change.

Updated Funding Proposal template now available

The updated Funding Proposal template is now available. The revised template clarifies information requested for baseline, context and theory of change, while also simplifying financing information and investment criteria information required. It has also been restructured and condensed to reduce redundancies. Overall, the update strengthens many portions of the template that will help GCF Accredited Entities prepare high-quality funding proposals. Further guidance on project design and on filling out the template is being developed. GCF will accept both new and old versions of the template to ensure a smooth transition, ending 6 June 2019.

GCF projects under implementation hit the USD 2 billion mark

With Funded Activity Agreements for FP066 and FP058 coming into effect, the Green Climate Fund (GCF) marks another milestone – it now has USD 2 billion worth of projects under implementation. These projects help developing countries take climate action and meet their nationally determined contributions by shifting them to a low-emission and climate-resilient path.

SAP guidelines in French and Spanish

Simplified Approval Process (SAP) funding proposal preparation guidelines are now available in French and Spanish on our website. The new documents will make it easier for GCF Accredited Entities (AEs), National Designated Authorities (NDAs) and Focal Points to prepare high-quality project funding proposals under the SAP. Launched in 2017, SAP simplifies and streamlines GCF funding application process for smaller-scale projects or programmes.

Protecting indigenous communities through GCF projects

GCF's support for Indigenous Peoples was a topic examined at the Fourth Global Forum on Indigenous Peoples, hosted by IFAD from 12-13 February 2019. Leonardo Paat, senior safeguards specialist at GCF, explained the various mechanisms implemented by GCF to support indigenous communities in adapting to the impacts of climate change, and provided practical examples through projects that are currently being implemented.

Innovative finance

A thought-provoking session at the GCF pavilion today explored how the private sector can mobilise capital to help developing countries deal with climate change. "We need innovation both in finance, technology and thinking to accelerate our response to climate change," Ayaan Adam, Director of GCF's Private Sector Facility, told the audience of the Innovative Finance session. Panellists and the audience discussed how to unlock private sector finances to generate the trillions of dollars needed to reduce emissions and make societies more climate resilient.

GCF accelerates project implementation at COP

GCF continued to use its presence at COP24 to drive climate action on the ground with its climate finance partners. This morning, it signed an agreement with Moroccan-based corporate and investment bank CDG Capital to enable this Direct Access Entity to begin proposing projects to receive GCF financing. In the evening, it set in place the legal framework to begin passing funds to Rwanda's Ministry of Environment in a project that will increase the climate resilience of farmers.

GEF-GCF event focuses on breaking silos for climate action

Naoko Ishii, CEO of the Global Environment Facility, stressed the importance of a system-based approach, and of breaking silos to fight climate change at a joint meeting with GCF at COP24. Javier Manzanares, GCF Executive Director a.i. identified three priorities for common action with GEF: scaling up projects, encouraging direct access, and developing country programmes. The need for cooperation was emphasised by Carlos Manuel Rodriguez, Minister of Environment and Energy of Costa Rica, who stated that the two funds are the way forward in Costa Rica, and need to work together.

Simplified Approval Process: promoting access to GCF resources

GCF’s event on the Simplified Approval Process (SAP) featured contributions from Ambassador Feturi - known as the champion of the process for his role in its development, as well as from the Rwandan Ministry of Environment, the Cook Islands, and the Environmental Investment Fund of Namibia - a GCF accredited entity which brought the first SAP project to be approved by the GCF Board.

Not just buildings! Climate resilient infrastructure debate stresses need for broad approach

Climate-resilient infrastructure is not just about concrete buildings, but also includes the "soft" infrastructure of social welfare: this was one of the key messages of a climate-resilient integrated infrastructure event hosted by GCF at COP24 today. Iñigo Ruiz-Apilanez, a civil engineer with engineering consultancy Arup, told participants that an effective adaptation approach requires considering social stresses, such as differences in incomes and who owns climate-impacted land. Lia Nicholson, a government project expert from Antigua and Barbuda, warned nations will increasingly face climate impacts such as in her country, which was hit by a category 5 hurricane last year after a three-year drought.

Science provides rationale for rational climate action

Strong science lies at the cornerstone of all effective climate action, participants heard at a GCF event held on the sidelines of COP24. Maxx Dilley, the WMO's climate prediction and adaptation director, said that a reliance on scientific evidence extends beyond providing early warning of climate disasters. Energy investments need to account for wind speeds and solar radiation, while agricultural climate projects should measure soil moisture, he said. Pa Ousman Jarju, Director of GCF's Country Programming Division, said that GCF readiness funding is available to help developing countries plan climate projects around the latest in scientific evidence.

Armenia grants P&Is to GCF

Armenia today signed a Privileges and Immunities agreement with GCF. Erik Gregoryan, Armenian Acting Minister of Nature Protection, signed the agreement with GCF Executive Director a.i. Javier Manzanares in the margins of COP24. The agreement, which is in line with those of other international organisations, will protect GCF's assets and ensure the effective performance of the Fund's activities. Signing such agreements was recommended in a decision of the COP for parties to the UNFCCC.

GCF leader says climate finance needs to consider risk and opportunity

Speaking at the Ministerial dialogue on climate finance, GCF Executive Director a.i. Javier Manzanares said that effective climate finance requires close collaboration with developing countries to identify climate risks and opportunities. He stressed that GCF can help developing countries translate their Nationally Determined Contributions into investment plans and bankable projects, and that the GCF Readiness programme helps build the capacity of developing countries to come up with climate projects that best match national conditions.

Norway announces doubling of support as GCF outlines contribution to global stocktake

Norway announced today that will double its contribution to GCF as part of the Fund’s replenishment. At the same Ministerial session on global stocktaking, GCF Executive Director a.i. Javier Manzanares outlined the GCF's contribution to global efforts on climate change over the past five years, noting that at the time of the last COP meeting in Poland (COP19) GCF had been just "an aspiration," but that it was now delivering results on the ground. Grenada emphasised that ongoing GCF support is critical to the country and other SIDS, and commended Germany and Norway for showing leadership in supporting the early stages of GCF’s current replenishment drive.

The role of the banking sector in the fight against climate change

GCF hosted an event on green banking and the overall role that the banking sector can play in addressing climate change at the sidelines of COP24 in Katowice. Speakers from EBRD, IFC, UNFCCC, RMI and the Green Investment Group agreed that the sector has potential for substantial impact in driving decarbonisation of the economy, but the fit for purpose regulatory environment should be in place. Alzbeta Klein, Director of Climate Business Department at IFC, recognised recent positive developments of including climate change as an important element of banking supervision.

GCF 101 series provides introduction to the Fund

The GCF 101 briefing series, aimed at introducing the core elements of GCF programmes and activities is gaining popularity at COP24. This, as more people express eagerness in gaining a better understanding of how the Fund operates and how to engage with it. Today, GCF colleagues hosted three 101 sessions, focusing on Readiness, Privileges & Immunities and overall GCF operations. The schedule of next 101 sessions are listed in the COP24 section.

Evaluation of the GCF Result Management Framework

A discussion on the evaluation of GCF's Result Management Framework (RMF) was held today in the sidelines of COP24. Jo Puri, Head of GCF's Independent Evaluation Unit (IEU), provided a review of mechanisms and tools to measure the impacts of GCF's climate activities, focusing on how the Fund can learn and strengthen its frameworks. GCF Senior Monitoring and Evaluation Specialist Rajib Ghosal discussed how GCF has been conducting a comparative analysis of other measurement tools and criteria to update the performance measurement framework. External perspectives were provided by EBRD, UNDP, the UK's BEIS, as well as CCAP - who conducted its own analysis of the RMF.

IEU holds event on performance review of GCF

The Independent Evaluation Unit of GCF today hosted a panel discussion on its review of GCF. Jo Puri, Head of the IEU, provided an overview of the key elements and processes of the upcoming review, which was mandated by the GCF Board last October. GCF Board Member Karma Tshering provided his perspectives on the opportunities of the review in helping GCF become more efficient.