The Green Climate Fund (GCF)
The Green Climate Fund (GCF) is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change. GCF helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change. The Fund was set up by the 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, as part of the Convention’s financial mechanism. The Fund is headquartered in Songdo, Republic of Korea. When the Paris Agreement was reached in 2015, the GCF was given an important role in serving the agreement and supporting the goal of keeping climate change well below 2 degrees Celsius. In the Agreement, the developed countries also committed to mobilize $100 billion per year up to 2030. The Fund’s investments can be in the form of grants, loans, equity or guarantees.
To understand more about the GCF, visit the website: https://www.greenclimate.fund/