Click here to read the GCF Portfolio Report for June 2020.
Click here to read the GCF Portfolio Report for May 2020.
Click here to read the GCF Portfolio Report for March 2020.
Directing finance to where it is needed most
Delivering inclusive growth while limiting climate change to 1.5°C will require the mobilization of finance at a historic scale. Over the next 15 years, it is estimated the world needs about USD 90 trillion in climate smart infrastructure – most of it in developing countries. Investing in green, climate resilient development will help mitigate the impacts of climate change and enable vulnerable societies to adapt to its negative effects. Climate finance plays a vital role in accelerating the implementation of Nationally Determined Contributions (NDCs) and advancing the Sustainable Development Goals (SDGs).
Mobilizing climate finance to where it will deliver the greatest impact is beset by various challenges, including institutional capacity. The Global Green Growth Institute (GGGI), mandated to help develop a low-carbon, resilient world of strong, inclusive and sustainable growth, works with its Member and partner countries to mobilize finance in support of climate action plans and programmes aiming to achieve climate targets.
GGGI has already helped mobilize over USD 1 billion in green investments and climate finance in developing countries. GGGI has done so by supporting countries to tap into finance from diverse sources, including bilateral aid, multilateral development banks, and the private sector.
One critical source of climate finance is the Green Climate Fund (GCF), which empowers developing countries to achieve their NDCs by financing mitigation and adaptation initiatives that align with countries’ needs and priorities. To enhance country ownership and access to its resources, GCF has a Readiness and Preparatory Support Programme. This “Readiness Programme” provides grants or technical assistance to strengthen institutional capacities, governance mechanisms, planning and programming to help countries identify a transformational, long-term climate action agenda. All developing country Parties to United Nations Framework Convention on Climate Change (UNFCCC) can access GCF’s Readiness Programme.
GGGI partners closely with GCF to support developing countries to access climate finance. With a common goal and complementary delivery model, GGGI and GCF signed a Framework Readiness and Preparatory Support Grant Agreement in 2017. Under this strategic partnership, GGGI supports its Member and partner countries to enhance access to GCF financing by implementing the GCF Readiness Programme. To ensure that GGGI remains a neutral advisor to governments, GGGI carries out this work as a Readiness Delivery Partner and is not an accredited entity to GCF.
GGGI supports national designated authorities (NDAs) and existing and potential national direct access entities (DAEs to develop projects for submission to GCF and to access Readiness Programme resources. GGGI also works with partner governments to develop concept notes and funding proposals for submission to GCF.
Over 20 countries have requested GGGI to act as a Readiness Delivery Partner. The GGGI teams on the ground have supported 20 of its government partners to access over USD 15 million in GCF approved Readiness funding and submitted over USD 9 million Readiness proposals.
Click here to see the GCF Approved Readiness Funding.
Support for Funding Proposals
For countries to access climate finance from the Green Climate Fund (GCF), the Global Green Growth Institute (GGGI) develops funding proposals, two of which have already been approved (for Ethiopia and Rwanda), three in the GCF pipeline (for Mongolia, India and Senegal), and one being developed (for Indonesia). GGGI has also developed 10 concept notes submitted for Fiji, Lao PDR, Rwanda and Vanuatu, six through SAP. In most of these projects, GGGI works with national direct access entities. The total value of these projects is estimated at USD 685 million, of which GCF contribution is over USD 300 million.
Project Reference Profiles – Papua New Guinea(PG3) Papua New Guinea Capacity Building on Climate Change Project Identification and Development
|Start Date||Q1 Oct 1 2018|
|Actual Budget (USD)||112,830|
Project Reference Profiles – Guyana(GY02) Enhancing Guyana’s Access to GCF to Transition to Renewable Energy
|Start Date||Q1 Feb 26 2019|
|Actual Budget (USD)||289,003|
Project Reference Profiles – Indonesia(ID3) GCF – Indonesia
|Start Date||Q1 Jun 1 2018|
|Actual Budget (USD)||571,200|
Project Reference Profiles – Jordan(JO3) Jordan GCF Readiness Program
|Start Date||Q1 July 1, 2018|
|Actual Budget (USD)||208,757|
Project Reference Profiles – Rwanda(RW5) Readiness Support to implement Green City Development Projects in Rwanda’s Secondary Cities
|Start Date||Q1 April 1 2018|
|Actual Budget (USD)||369,929|
News • August 11, 2020
On August 6, the GGGI Myanmar team held its inaugural “Green City Steering Committee” (GCSC) meeting during a semi virtual, semi physical meeting at the Park Royal hotel in Nay Pyi Taw. Representatives of three project cities (Bago, Pathein, Taunggyi) attended over a Zoom link while the fourth (Nay Pyi Taw) attended in person. Ten […]
News • July 8, 2020
On July 2, GGGI held a consultation workshop in Port Vila to discuss the ways in which the Government of Vanuatu can strengthen the coordination of external development funding and climate finance from donors and multilateral organizations. The workshop was led by the Prime Minister’s Office (PMO) and attended by government officials from the Ministry […]
News • July 4, 2020
GGGI Morocco virtual launch event for the GCF Readiness project “Enhancing Access to Climate Finance in Morocco’s Regions”
Rabat, Morocco; June 24, 2020 – The Global Green Growth Institute (GGGI) in close collaboration with the Department of Environment within the Ministry of Energy, Mining and Environment and the Ministry of Interior organized a virtual launch event for the GCF Readiness project “Enhancing Access to Climate Finance in Morocco’s Regions”. The objective of the […]
News • June 22, 2020
Call for Concept Notes: Strengthening Uganda’s Engagement with the Green Climate Fund (GCF) through the Development of the GCF Country Programme Project Portfolio (2020-2023)
The GCF National Designated Authority (NDA) – Ministry of Finance, Planning and Economic Development of the Republic of Uganda (MOFPED) supported by Global Green Growth Institute (GGGI) is in the process of articulating the GCF -Uganda Country Programme and Project Portfolio within the framework of the Readiness and Preparatory Support Programme principally aimed at strengthening […]
News • June 2, 2020
As part of Papua New Guinea’s (PNG) first Readiness and Preparatory Support Project under the Green Climate Fund (GCF), GGGI organized a series of consultative webinars and training under the leadership and guidance of the Climate Change and Development Authority (CCDA). The three webinars focused on: Gender Mainstreaming Guideline for Climate Change Projects in PNG […]
News • May 26, 2020
What do ‘Paradigm Shift’ and ‘Climate Rationale’ Mean for the Green Climate Fund (GCF) Project Concept Notes
Over the past 6 months, the Global Green Growth Institute (GGGI) and the Fiscal Policy Agency, Ministry of Finance Republic of Indonesia as the National Designated Authority (NDA) Green Climate Fund (GCF) Indonesia has been working with E Co. to build the capacity of shortlisted project proponents from the inaugural NDA Call for Project Concept […]
News • March 27, 2020
Directing finance to where it is needed most Delivering inclusive growth while limiting climate change to 1.5°C will require the mobilization of finance at a historic scale. Over the next 15 years, it is estimated the world needs about USD 90 trillion in climate smart infrastructure – most of it in developing countries. Investing in […]