Green Climate Fund (GCF) is a critical international initiative established to address climate change by financing efforts in developing countries. Created in 2010 under the framework of the United Nations Framework Convention on Climate Change (UNFCCC), it plays a pivotal role in supporting countries in their transition to low-emission and climate-resilient development pathways.
GCF aims to limit or reduce greenhouse gas emissions in developing countries while promoting sustainable development. It also seeks to help countries adapt to the impacts of climate change by funding projects that improve water resources, agricultural practices, and disaster management, among other vital areas.
GCF mobilizes funding from both public and private sources, with contributions from governments, foundations, businesses, and multilateral organizations. Developed nations are encouraged to contribute financially, with the goal of raising $100 billion per year to support climate action. The fund’s resources are then used to finance climate projects such as renewable energy initiatives, reforestation, climate-resilient infrastructure, and capacity-building programs.
