The Green Climate Fund (GCF) is positioned to provide a bulk of the funding to implement the Paris Agreement.
Though the Fund promises to balance funding between adaptation and mitigation, as well as geographically, the distribution of funds has not aligned with these promises. There have also been delays in accrediting implementing agencies located in Least Developed Countries. Ensuring that the GCF fulfills its funding promises is crucial for successful adaptation in these vulnerable nations.
This briefing – drawing on research in the forthcoming AdaptationWatch report – presents analysis of GCF performance to date, and asks whether, given the current rate of progress, Least Developed Countries can depend on GCF delivering, and points out that they may well need to be proactive in using their own resources in adapting to climate change.
Based on the analysis, the authors offer policy pointers to improve GCF performance:
• The GCF must follow through on its promise to equally allocate its funds to adaptation and mitigation.
• The GCF must achieve geographic balance in funding and ensure that vulnerable countries receive adequate funds.
• Processes for accrediting implementing agencies must be streamlined so as to not inhibit LDCs from gaining this direct access.
Read the briefing (PDF: 863 kb)
To read the full chapter on this research, look for the 2017 AdaptationWatch Report, to be released at COP23 in November 2017.