News

GCF boosts COVID-19 low-carbon energy relief with anchor investment

Green Climate Fund (GCF) backing has been crucial in an emergency relief fund launched today that shields clean energy companies in developing countries from COVID-19 economic shocks to keep low-carbon trajectories on track.

Latest IPCC report is a wake-up call for immediate climate action

The most recent Intergovernmental Panel on Climate Change (IPCC) Report underlies the urgency of taking global action to halt climate change and deal with its unstoppable effects. The report, released on 9 August 2021, warns that without immediate, rapid and large-scale reductions in greenhouse gas emissions, it will be impossible to limit warming close to 1.5°C or even 2°C. Established by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, the Green Climate Fund (GCF) is mandated to help the world avoid the dangerous trajectory highlighted by the IPCC Report by financing climate action in developing countries. GCF bases its activities as the world’s largest dedicated climate fund on the latest scientific evidence. GCF’s Climate Science Lead Kevin Horsburgh provides his synopsis of the IPCC report below.

GCF and Korea Development Bank help climate innovators traverse “valley of death”

We need innovation to provide climate solutions. But too many great new ideas die in the so-called ‘valley of death’ – the gap between seed funding for entrepreneurs and the longer-term investment that brings those ideas to market. In tackling this challenge, Southeast Asian entrepreneurs with ideas on how to use technological innovation to tackle climate change have received a fillip with a new partnership between the Green Climate Fund (GCF) and the Korea Development Bank (KDB), supported by the Global Green Growth Institute (GGGI).

Supporting developing countries on the road to a climate-resilient recovery from the COVID-19 pandemic

The COVID-19 pandemic has brought the world to a tipping point in the fight against climate change. Decisions taken by leaders today to revive economies will have crucial implications for targets enshrined in the Paris Agreement and the Sustainable Development Goals (SDGs).

Green Climate Fund Board approves USD 500 million for new climate action, strengthens its Results Management Framework

Funds will help SIDS and LDCs adapt to climate change, catalyse private investment, and increase the support provided via Direct Access Entities

Pacific countries to bolster project pipeline with GCF

The Green Climate Fund (GCF) convened countries and direct access entities in the Pacific for a two-week programming dialogue to address portfolio imbalances and move the region’s climate projects forward.

GCF and UNIDO partnership agreement bolster climate-resilient industrial development

The Green Climate Fund (GCF) has taken another step towards greening the industry sector, one of the largest sources of greenhouse gas emissions, by signing a partnership agreement with the United Nations Industrial Development Organization (UNIDO).

GCF-EBRD agreement launches USD 1 billion initiative to curb industry emissions

The Green Climate Fund (GCF) is taking a major step to reduce industrial emissions in developing countries following the signing on Wednesday of a USD 1 billion partnership agreement with the European Bank for Reconstruction and Development (EBRD).

GCF launches climate finance report during Seoul P4G summit

The Green Climate Fund (GCF) has launched a new report on how global finance can be aligned with sustainable development in order to achieve the goals of the Paris Agreement and deliver a COVID-19 economic recovery.

Growing ambition: the role of the Green Climate Fund in scaling up finance for climate action

On 18 May 2021, the Wilson Center organized a discussion focused on the role of the Green Climate Fund in scaling up finance for climate action. Ambassador Mark Green, the President of the Wilson Center, opened the discussion with a call to action : “the climate crisis is already here, and so is our opportunity to respond. The world will face huge costs in adapting to climate change, up to $500 billion per year by 2050.” He then raised the biggest unanswered question in climate finance : why does adaptation currently attract only 20% of all climate finance?