The Green Climate Fund (GCF) is an international financial mechanism established under the framework of the United Nations Framework Convention on Climate Change (UNFCCC). Its main objective is to help developing countries take concrete actions to adapt to the adverse effects of climate change and reduce greenhouse gas emissions.
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Who manages it and how is it funded?
The GCF is governed by a board of 24 members representing both developed and developing countries. The fund’s resources come from voluntary contributions from governments, as well as other public and private sources.
Who are the beneficiaries and what do they receive?
The main beneficiaries of the GCF are developing countries, especially those most vulnerable to the impacts of climate change. The projects financed by the GCF cover a wide range of areas, from renewable energy and energy efficiency to sustainable forest management and climate-adapted agriculture. Beneficiary countries receive funding to implement these projects.
Why was it created?
The GCF was created to support the efforts of developing countries in implementing the United Nations Framework Convention on Climate Change and the Paris Agreement. The fund aims to mobilize large-scale financial resources to help these countries reduce greenhouse gas emissions and increase their resilience to the impacts of climate change.
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