Green Climate Fund

Donor: 
United Nations
Geographical focus: 
Global
Thematic focus: 
Tourism in general
Sustainability of natural resources in Tourism
Intro text: 
The Fund was adopted as a funding mechanism of the UN Framework Convention on Climate Change (UNFCC) at the end of 2011. It aims to make an ambitious contribution to attaining the mitigation and adaptation goals of the international community. Over time it is expected to become the main multilateral financing mechanism to support climate change action in developing countries.

Fund

The Fund was adopted as a funding mechanism of the UN Framework Convention on Climate Change (UNFCC) at the end of 2011. It aims to make an ambitious contribution to attaining the mitigation and adaptation goals of the international community. Over time it is expected to become the main multilateral financing mechanism to support climate change action in developing countries.

Official website

http://news.gcfund.org/

Who can apply?

Recipient countries (mostly developing countries) can submit funding proposal through National Designated Authorities (NDAs). Recipient countries will be allowed direct access through accredited sub-national, national and regional implementing entities they propose and set up as long as these implementing entities fulfil certain fiduciary standards. The modalities of access remain to be agreed. There is an online accreditation system (OAS), a secure internet accessible application which allows an entity (Entity) to submit an application for accreditation from the Green Climate Fund (Fund). All entities, including international, regional and national and subnational entities, can apply for accreditation to the Fund. Entities shall send a letter to the Fund’s Secretariat requesting access to the OAS through an email address. The application and relevant supporting documents will be accessed based on specific accreditation criteria that reflect the Fund’s fiduciary principles and standards and environmental and social safeguards.

Objectives and activities

Objective: The Green Climate Fund (GCF) will contribute to the achievement of the ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC). In the context of sustainable development, the Fund will promote the paradigm shift towards low-emission and climate-resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change, taking into account the needs of those developing countries particularly vulnerable to the adverse effects of climate change. National ownership is intended to be central to the GCF approach.

Activities: The GCF will support projects, programmes, policies and other activities in all developing country parties to the UNFCC. The GFC will finance activities to both enable and support adaptation, mitigation (including REDD+), technology development and transfer (including Carbon Capture and Storage- CCS), capacity building and the preparation of national reports.

Type and level of funding

Voluntary pledges. On May 21, 2015 the Fund reached its threshold with signed contributions equaling 50% of total pledges.