The Green Climate Fund (GCF) is a major source of finance for developing countries seeking to address climate change. The biggest of the climate funds, to date, the GCF has committed $3.5 billion for 74 projects around the world. From off-grid renewable energy solutions and ecosystems restoration to climate information services in vulnerable areas, the GCF aims to support transformational climate action in developing countries.
Countries have agreed that a significant share of climate finance from developed countries should flow through the GCF. As the fund spends down its current pool of resources, setting up an effective, transparent and inclusive process for replenishment is an urgent priority for the international community. GCF replenishment is critical to implementing the Paris Agreement because we need more money for climate projects and programs. Having predictable resources bolsters confidence in climate finance and increases momentum for climate action more broadly.