Support to the second replenishment of the Green Climate Fund

The second replenishment of the Green Climate Fund (GCF-2) aims to build on the Green Climate Fund’s (GCF) existing portfolio to deepen its support to key transformative initiatives identified by countries in each of its eight results areas. This includes energy generation and access; transport; buildings cities industries and appliances; forests and land use; health food and water security; livelihoods of people and communities; ecosystems and ecosystem services; infrastructure and the built environment. This aims to achieve the Paris Agreement goals. The Paris Agreement works to bring all nations into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects with enhanced support to assist developing countries to do so. The Paris Agreement aims to limit the global temperature increase to well below 2 degrees above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 degrees. The GCF is the world’s largest dedicated fund working to help developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change. The GCF is a financial mechanism of the United Nations Framework Convention on Climate Change and is one of the principal mechanisms for developed countries to deliver on their Paris Agreement commitment to support mitigation and adaptation efforts in developing countries. The GCF programmes globally but specific attention and prioritization is given to Least Developed Countries Small Island Developing States and Africa. Project activities include: (1) helping at least 570 to 900 million people in the poorest and most vulnerable developing countries adapt to the effects of climate change; and (2) reducing greenhouse gas emissions by at least 1.5 to 2.4 billion tonnes.

The expected outcomes for this project include: (1) increased capabilities in developing countries for transformational planning and programming; (2) catalysing climate innovation; (3) strengthened innovation through mobilizing investments at scale; and (4) increased knowledge to replicate success and support the alignment of financial flows with the Paris Agreement.