Green Climate Fund: GCF

1 Overview

GCF is a fund which serves the United Nations Framework Convention on Climate Change and the Paris agreement for supporting reduction of greenhouse gases (mitigation) and addressing impacts of climate change (adaptation) in developing countries.
Establishment of GCF was decided in the 16th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP16) held in 2010
GCF started funding projects in 2015.
GCF has grown into the largest climate-dedicated fund in the world, mobilizing approx. USD 20 billion through the initial resource mobilization (2015-2019) and the first replenishment (2020-2023). 33 countries pledged to the second replenishment (2024-2027) with a total of approx. USD 12.8 billion so far.

Allocation of funds: Aiming for a 50:50 balance between mitigation and adaptation.
Countries covered: Emphasis on countries vulnerable to the impact of climate change, such as Small Island Developing States (SIDS) and least developed countries (LDC). (It aims for a floor of 50% of the adaptation allocation for particularly vulnerable countries)
253 projects have been adopted by the Board as of April 2024, with a total approved funding of USD 13.9 billion. These projects are anticipated to reduce emissions of 2.9 billion tonnes of carbon dioxide equivalent and increase the resilience of 1 billion people in developing countries.

Japan contributed USD 3.0 billion to the GCF so far, through the initial resource mobilization (2015-2018) and the first replenishment (2020-2023). For the second replenishment (2024-2027), Japan announced at the High-Level Pledging Conference in October 2023 its intention to contribute up to JPY 165 billion, the same amount as the first replenishment.
Japan, as a major contributor, actively contributes to the management of GCF in the Board, the decision-making body of GCF, where Japan has seats as Board Member and Alternate Board Member.