The Green Climate Fund (GCF) is an international fund created by the United Nations Framework Convention on Climate Change (UNFCCC) to support paradigm-shifting low emission (mitigation) and climate resilience (adaptation) projects and programs in developing countries. The GCF is the only stand-alone multilateral financing entity whose sole mandate is to serve the Paris Agreement and Kyoto Protocol, aiming to deliver equal amounts of funding to mitigation and adaptation. It has a multi-layered approach to mobilize climate finance in the form of investments including grants, loans (concessional), equity, and guarantees.
The GCF works through Accredited Entities (AEs) to channel its resources to all projects and programs. The AEs work alongside with NDAs to come up with Concept Note and submit funding proposals to GCF for approval. As of today, the total number of AEs worldwide is 95 , which may comprise of multilateral organizations (e.g. United Nations organizations, Asian Development Bank) or national organizations as direct access entities (DAE). In the Philippines, Land Bank of the Philippines is the first Direct Access Entity (DAE) accredited by the GCF.
With more than a hundred projects in developing countries, GCF is delivering impactful climate action where it's needed most.