The Green Climate Fund (GCF) currently has a portfolio of USD 13.5 billion dedicated to delivering transformative climate action across the globe.
Understanding the Green Climate Fund's Financial Impact
The Green Climate Fund (GCF) is a crucial financial mechanism under the United Nations Framework Convention on Climate Change (UNFCCC), established to support developing countries in their efforts to address climate change. Its funding is pivotal for both mitigating emissions and adapting to climate impacts.
GCF's Funding Portfolio
The GCF's direct financial commitment is reflected in its current portfolio. This amount represents the funds the GCF directly manages and distributes for various climate projects and programs.
Key Financial Figures of the Green Climate Fund:
| Funding Aspect | Amount (USD) | Description |
|---|---|---|
| GCF Direct Portfolio | 13.5 billion | This is the precise amount of money the Green Climate Fund itself is directly managing and distributing for climate action projects and programs. |
| Total Climate Action (including co-financing) | 51.9 billion | This larger figure represents the total investment mobilized for climate action, combining the GCF's direct contributions with significant co-financing from other partners and sources. |
This substantial funding supports initiatives in more than 120 countries, aiming to foster a global transition towards low-emission and climate-resilient development pathways.
Beyond Direct Project Funding: Readiness and Capacity Building
In addition to its direct project portfolio, the GCF also operates a vital readiness support programme. This programme is designed to:
- Build capacity within developing countries, enabling them to effectively plan and implement climate initiatives.
- Help countries develop long-term plans to combat climate change, ensuring sustained and impactful interventions.
This comprehensive approach ensures that countries receive not only financial support but are also empowered with the necessary knowledge and infrastructure to achieve their climate goals. The GCF recently reached a record funding level, underscoring its commitment to global climate action. More details about their achievements and funding can be found on the Green Climate Fund website.
