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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