Green Climate Fund: Resource Mobilization, Recent Projects

Green Climate Fund: Resource Mobilization, Recent Projects

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Updated November 21, 2019
Green Climate Fund: Resource Mobilization, Recent Projects
Resource Mobilization
First Replenishment
The Green Climate Fund (GCF) was officially opened for
capitalization at the U.N. Climate Summit in September
On October 25, 2019, during the Pledging Conference for
2014. (See CRS In Focus IF10382, The Green Climate
GCF’s First Replenishment in Paris, 27 countries made
Fund (GCF) for a history and overview of the fund.) The
pledges totaling $9.8 billion for the next 4 years (see Table
GCF’s initial resource mobilization (IRM) lasted from 2015
2). No regions or cities made pledges on October 25, 2019.
to 2018. As of the most recent reporting, April 30, 2019, the
GCF had raised over $10.2 billion (all amounts are in U.S.
Table 2. Pledges for GCF’s First Replenishment
$ equivalent) in signed pledges from 48
(in millions U.S. $ equivalent, as of October 25, 2019)
countries/regions/cities during the IRM period. Table 1
Party
Pledge
shows the pledges of the top 20 donor parties and the funds
contributed as of April 30, 2019.
United Kingdom
1,851.9
Table 1. Top Pledges for GCF’s IRM
France
1,794.1
(in millions U.S. $ equivalent, as of April 30, 2019)
Germany
1,689.8
Party
Pledged
Contributed
Japan
1,500.0
United States
3,000.0
1,000.0
Sweden
852.6
Japan
1,500.0
1,500.0
Norway
433.7
United
Italy
350.2
1,211.0
1,211.0
Kingdom
Canada
229.2
France
1,035.5
1,035.5
Korea
200.0
Germany
1,003.3
1,003.3
Spain
176.5
Sweden
581.2
581.2
Switzerland
155.5
Canada
277.0
277.0
Netherlands
141.1
Norway
272.2
272.2
Denmark
126.0
Italy
267.5
267.5
Finland
116.7
Australia
187.3
187.3
Belgium
46.7
Spain
160.5
56.2
Luxembourg
46.7
Netherlands
133.8
133.8
Austria
35.8
Finland
107.0
76.1
New Zealand
10.7
Republic of
100.0
100.0
Ireland
4.8
Korea
Monaco
4.4
Switzerland
100.0
100.0
Poland
3.2
Denmark
71.8
71.8
Slovak
2.3
Belgium
66.9
66.9
Iceland
2.1
Luxembourg
46.8
40.1
Slovenia
1.2
Austria
34.8
34.8
Portugal
1.2
Mexico
10.0
10.0
Source: Green Climate Fund, https://www.greenclimate.fund/how-
Hungary
0.7
we-work/resource-mobilization.
Indonesia
0.5
Notes: United States dol ars equivalent (U.S. $ eq.) based on the
Liechtenstein
0.1
reference exchange rates established for GCF’s High-Level Pledging
Conference (GCF/BM-2015/Inf.01).
Source: Green Climate Fund.
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Arrears
FP110
Ecuador: The project presents Ecuador’s
Of the $10.2 billion signed pledges under the IRM, all
Reducing Emissions from Deforestation and
funds have been deposited with the GCF as of April 30,
Degradation results for 2014, where a total
2019, except those shown in Table 3.
volume of 3.6 mil ion metric tons of carbon
dioxide equivalent emissions reductions are
Table 3. Arrears for GCF’s IRM
presented to the GCF for results-based payments.
(in millions U.S. $ equivalent, as of April 30, 2019)
$18.6 mil ion.
Party
IRM Arrears
FP111
Honduras: This project targets improvements in
the provision of water services by increasing the
United States
2,000.0
resilience of vulnerable coniferous forests, which
Spain
104.3
wil be achieved by implementing forest
restoration, agroforestry practices, and adaptive
Finland
31.2
forest management in critical areas. $35.0 mil ion.
Luxembourg
6.7
FP112
The Marshall Islands: The project supports the
Malta
0.2
Republic of the Marshall Islands in adapting to
increasing climate risks, particularly more frequent
Indonesia
0.1
and extreme droughts, which impact the country’s
Source: Green Climate Fund.
drinking water supply. $18.6 mil ion.
FP113
Kenya: The project aims to increase the
Recently Approved GCF Projects
resilience of the livestock sector and other land-
At its 23rd meeting (B.23), the GCF board approved 10 new
use sectors in restored and effectively governed
projects and programs (see Table 4). In all, the total amount
rangeland ecosystems in Kenya’s arid and semi-
of GCF funding allocated for projects approved at B.23 was
arid lands. $23.2 mil ion.
$266.9 million, which with planned cofinancing is to
support over $1.4 billion in climate mitigation and
FP114
Ghana: The program aims to empower
adaptation in 10 developing countries. These new approvals
vulnerable women groups in the country’s most
increased the GCF portfolio to 111 projects and increased
vulnerable agricultural zone, through a line of
the level of related GCF funding to over $5.2 billion in 99
credit and technical assistance to participate in
developing countries.
low-emission climate resilient agricultural
practices. $20.0 mil ion (.
Table 4. List of New Projects Approved at B.23
FP115
Chile: The Espejo de Tarapacá Project is
(Project number, country, description, GCF funding)
comprised of two large-scale power plant projects
that wil provide clean renewable baseload energy
FP107
Kingdom of Bhutan: The project aims to
supply: (1) a 300-megawatt pumped storage
address the multifaceted challenges of climate
hydroelectric plant using the Pacific Ocean as its
change and enhance resilience of smallholder
lower reservoir and an existing natural concavity
farmers in eight districts in Bhutan, through an
as its upper reservoir, and (2) a 561-megawatt
integrated approach to climate resilient
photovoltaic solar plant. $60.0 mil ion.
agriculture. $25.3 mil ion.
SAP007
Zimbabwe: The project aims at directly
FP108
Pakistan: The objective of the project is to
supporting long-term adaptation of vulnerable and
transform agriculture in the Indus Basin by
food insecure households (50,000 people, of
increasing resilience among the most vulnerable
which 66% are women) in Masvingo and Rushinga
farmers and strengthening the government’s
districts in Zimbabwe. $8.9 mil ion.
capacity to support the communities to adapt.
$35.0 mil ion.
Source: Green Climate Fund, “GCF, 23rd Meeting of the Board of
the Green Climate Fund Summary of the Outcomes 6-8 July 2019,
FP109
Timor-Leste: The project aims to safeguard
Songdo, Republic of Korea.”
vulnerable communities and their physical assets
from climate-change-induced disasters by
Notes: For a complete list of board-approved projects with ful
addressing institutional, financial, and legislative
documentation and a list of accredited agencies, see the GCF website
barriers and implementing rural infrastructure and
at http://www.greenclimate.fund/what-we-do/projects-programmes.
catchment rehabilitation interventions to increase
Al dol ar amounts in U.S. $ equivalent.
the climate resilience of the vulnerable rural
population in six municipalities. $22.4 mil ion.
Richard K. Lattanzio, Specialist in Environmental Policy
IF10762

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Green Climate Fund: Resource Mobilization, Recent Projects

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