As we are at the #ClimateWeekNYC and #UNGA, read our 2023 Annual Report demonstrating its growing impact.
The Green Climate Fund has now committed $13.5 billion to 243 projects across 129 developing countries, leveraging over $50 billion in co-financing for climate action.
In 2023 alone, GCF approved $2.1 billion for 34 new transformative projects.
The Fund is maintaining a 50-50 balance between mitigation and adaptation funding, with over half of adaptation funding going to particularly vulnerable nations.
Green Climate Fund is making climate finance more accessible. 63% of its partners are now Direct Access Entities from developing countries.
Private sector engagement is increasing, with $5 billion now committed to 60 private sector projects mobilizing over $17 billion in co-financing.
These results show that the GCF is living up to its core values of being committed to climate action, innovative, responsive, and trusted. However, we need to do more…..!
With the Leaders here and our complex challenges due to #climatechang, the #GCF‘s role in channelling and catalyzing climate finance to developing nations is more crucial than ever. We need to accelerate ambitious climate action where it’s needed most.
Report for 2023 is here:
https://lnkd.in/gSY2wwGh
ClimateWeekNYC #UNGA #ClimateFinance #GreenClimateFund #ClimateAction #Adaptation #Mitigation #SustainableDevelopment #PrivateSectorEngagement #DevelopingCountries
Bapon (SHM) Fakhruddin, PhD 