UN Green Climate Fund Commits $687M to Tackle Emissions Across 42 Countries

The United Nations’ Green Climate Fund (GCF) has approved a major $686.8 million investment to support 11 environment-focused projects spanning 42 countries. This funding milestone is designed to strengthen vulnerable communities while driving down global carbon emissions.

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Including co-financing commitments, the total investment reaches $1.5 billion. According to GCF projections, these initiatives will have a direct impact on 115.5 million people and help prevent the release of 45.3 million tonnes of carbon dioxide into the atmosphere.

Two first-time investments are particularly noteworthy: Serbia’s initiative to improve forest resilience and Togo’s efforts to strengthen the environment readiness of its most at-risk communities. These country-specific projects reflect the Fund’s commitment to targeted solutions for local natural challenges.

In a move aimed at increasing accessibility for developing nations, the GCF board has agreed to establish a regional presence. A spokesperson for the Fund explained, “A regional presence will enhance access to the Fund and increase the climate impact of its projects.”

The board also approved six new project-implementing partners, five of which are national and regional institutions, reaffirming its dedication to empowering local organizations and ensuring direct access for developing countries.

Launched in 2010 under the Cancún Agreements from COP16, the GCF serves as a critical financial engine for both the UN Framework Convention on Climate Change and the Paris Agreement. It bridges the financial gap by channelling funds from wealthier nations to those facing the most severe natural threats.

The newly approved projects expand the GCF’s active portfolio to 297 projects, totalling $16.6 billion in direct funding—an amount that rises to $62.7 billion with additional co-financing agreements.

The geographical breakdown of GCF investments underscores the focus on global equity: Africa receives the largest allocation at 38%, followed by Latin America and the Caribbean at 32%, the Asia-Pacific region at 27%, and Eastern Europe, Central Asia, and the Middle East at 3%.

The GCF board, which usually meets three times a year, is scheduled to convene next from June 30 to July 3 in Port Moresby, Papua New Guinea.