GCF climate projects ahead of COP31

The Green Climate Fund (GCF) will consider new climate finance proposals, policies for the next fundraising cycle and measures to strengthen climate investment monitoring at its 46th Board of Directors meeting scheduled for October 26-29 in South Korea.

The meeting comes less than two weeks before the 31st United Nations Climate Change Conference (COP31), scheduled for November 9-20 in Antalya, Turkey, putting the spotlight on the Fund’s financing decisions ahead of global climate negotiations.

According to a statement from the GCF, the four-day meeting at its headquarters in Songdo, Incheon, will consider projects addressing adaptation and mitigation in regions where the Fund operates.

The Council will also consider accreditation proposals for new implementing partners, policies relating to the third round of replenishment fundraising, a harmonized framework for measuring and reporting results, and findings emerging from the third review of the Fund’s performance by the Independent Evaluation Unit.

The meeting will bring together designated national authorities, accredited bodies, civil society and private sector observers and other partners involved in providing climate finance to developing countries.

Established in 2010 under the United Nations Framework Convention on Climate Change (UNFCCC), the GCF is the largest dedicated climate fund in the world. It supports developing countries in pursuing low-emission and climate-resilient development through investments that reduce greenhouse gas emissions and help communities adapt to climate impacts.

“Its activities range from renewable energy, energy efficiency, sustainable land use, resilient infrastructure, water security and climate resilient agriculture.

The Fund works through a network of accredited bodies that develop and implement projects, while designated national authorities provide country-level coordination to ensure investments are aligned with national climate priorities.