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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.

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