Introduction to the Green

Climate Fund

Florence RICHARD, Regional Advisor Africa

Rabat, September 22, 2016

 About GCF
World’s largest climate fund

Agreed by 194 Parties to the UNFCCC

Provide support to developing countries

Mitigation: reduce greenhouse gas emissions

Adaptation: adapt to unavoidable impacts

Investment mix: public and private sector

 GCF timeline
2009 GCF concept proposed at COP 15

2010 Established at COP 16

2011 Governing Instrument adopted at COP 17

2012 First meeting of GCF Board

2013 EXD appointed, Korea headquarters established

2014 Unprecedented USD 10 billion mobilized

2015 First investment decisions ahead of COP 21

GCF: A key financial mechanism
under the Paris Agreement
GCF business model
 Accredited Entities

Namibia Argentina
Morocco Senegal Rwanda Ethiopia Kenya Peru
India

33 entities accredited to date

 Fit-for-Purpose Accreditation
Fiduciary
Mandate & functions
track record
• Basic
• Alignment with Fund • Specialized
objectives

• At least 3 year of operations

Project size Environment

& Social risk
• Micro (>10mn)
category
• Small (10-50mn)
• Medium (50-250mn) • A (high)

• Large (>250mn) • B (medium

• C (low)

7
Balanced resource allocation
 8 Strategic Results Areas

With a focus on…

• Impacts
• Programmes
• Paradigm-shift potential
• Adaptation-mitigation co-benefits
10
 Investment Criteria

• Potential to the achieve the Fund's objectives and

Impact Potential result areas

• Potential to catalyze impact beyond a one-off

Paradigm Shift Potential project or programme investment

Sustainable
• Potential to provide wider benefits and priorities
Development Potential
• Vulnerability and financing needs of the
Needs of Recipient beneficiary country and target groups

• Beneficiary country ownership of and capacity to

Country Ownership implement funded activities

Efficiency & • Economic and financial soundness of programme/

Effectiveness project; appropriateness of concessionality
 Mobilizing climate action and
resources at scale

$10 billion $9.9 billion

Pledged (2016) Signed (2016)
 Project funding approved

$424M to 17 projects
Eastern
Europe
1 Asia-Pacific
Africa 7
Latin America 5
4

52% LDCs, SIDS & African states

Portfolio composition
 Funding Local Level Action

Through Relevant Accredited Entities

Through Dedicated Projects and Programs

Through the Enhanced Direct Access process

 frichard@gcfund.org

web: greenclimate.fund