What is the Green Climate Fund?
The GCF mission is to expand collective human action to respond to climate change.
The Fund aims to mobilize funding at scale to invest in low-emission and climate-resilient development on our home planet.created by the United Nations Framework Convention on Climate Change (UNFCCC), the Fund aims to support a paradigm shift in the global response to climate change. It allocates its resources to low-emission and climate-resilient projects and programmes in developing countries. The Fund pays particular attention to the needs of societies that are highly vulnerable to the effects of climate change, in particular Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States. Half of the ‘adaptation’ pool is allocated to these countries.
The Green Climate Fund was established by 194 countries party to the UN Framework Convention on Climate Change in 2010. It is designed as an operating entity of the Convention’s financial mechanism and is headquartered in the Republic of Korea. It is governed by a 24 Board mechanism and is headquartered in the Republic of Korea. It is governed by a 24 Board member, representing countries, and receives guidance from the Conference of the Parties to the Convention (COP).