"CMIA helped to explain the potential for project-based mechanisms across a variety of constituencies and is a key voice driving the conversation on results-based finance and sector approaches for scaling-up emission reduction investments. We urgently need input from organisations like CMIA to operationalise Art 6 of the Paris Agreement."

Mr. Franz-Josef Schafhausen, former Director General Climate Change, European and International Affairs, Federal German Ministry of the Environment, Nature Conservation, Building and Nuclear Safety

An update on the Green Climate Fund as it lauds record $3bn haul

29th October 2021 by CMIA

The GCF has its work cut out to significantly raise the level of private commitments to the fund – despite a record year for fundraising, writes CMIA’s ED, Margaret-Ann Splawn.

It’s been a record year of funding at the UN Green Climate Fund (GCF). Nearly $3 billion has been approved by the board in 2021 when tallied up with the $1.2 billion of funding approved the week of the 4 October at the GCF’s 30th meeting of the board (B.30).

This sends a signal ahead of the crucial COP26 meeting, that “the Green Climate Fund is fulfilling its role to deliver support for climate action in developing countries”, said Co-Chair José De Luna Martinez, from Mexico.
This brings the total size of the GCF Portfolio to $10 billion, representing $37.2 billion in assets, including co-financing.

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