By Fatima Arkin Most international climate funds are interested in program proposals that will get them the most bang for their buck or result in the most emissions reduction for the least amount of spend. But thatâ€™s not what drives the Green Climate Fund. The worldâ€™s newest and largest dedicated international climate fund prefers to…
Green – with National Designated Authority (NDA)
Red – in-country National Implementing Entities(NIEs)
Yellow – with Focal Point
The accreditation panel is composed of six international experts in areas related to the fiduciary standards and environmental and social safeguards of the Fund. The panel is considered a technical advisory body accountable to the board. Its role is to review applications for accreditation and assess applicants ability to meet the standards set by the Board.
The GCF channels its funding for climate actions in developing countries through accredited entities (AEs). GCF AEs can be international, regional, national and sub-national entities, including public and commercial banks; international and bilateral development agencies; ministries or other government agencies; private sector actors; and other non-governmental organizations. Â In order to be accredited to the GCF, applicant entities need to apply for accreditation and fulfill accreditation requirements set by the GCF, such as environmental, social and gender safeguards and financial and project management principles and standards. They are accredited for five years and then need to reapply.
Conference of Parties
Also referred to as COP is the highest decision making organ of the UNFCCC and to the Convention. All States that are Parties to the Convention are represented at the COP, the meeting reviews and assess the progress in dealing with climate change and the implementation of the Convention. The COP meets every year, unless the Parties decide otherwise. Most GCF operations are guided by the decision of or guidance from the COP.
The Governing Instrument provides a wide range of parameters, standards and principles to guide the GCF operations, in particular the decision-making process of the GCF Board.
The GCF encourages the participation of a wide range of accredited observers. In addition, it recognizes two representatives from the private sector and two representatives from civil society organizations (one each from developed and developing countries) as active observers. They are the only observers that can speak in GCF Board meetings on behalf of their respective constituency and fulfill a coordinating, outreach and information-sharing role. Active observers are self-selected by their constituency and serve for a two year period, which can be renewed once.
By Pete Ogden and Gwynne Taraska The Green Climate Fund, or GCF, developed amid tremendous uncertainty. A single phrase from the 2009 Copenhagen Accordâ€”â€œWe decide that the Copenhagen Green Climate Fund shall be establishedâ€â€”sparked the existence of the fund, which world leaders broadly envisioned as a channel of multilateral finance to support low-carbon, climate-resilient growth…
by Megan Rowling The Green Climate Fund, which aims to channel billions of dollars to help poorer nations tackle global warming, is not yet backing the right kind of projects to bring about a sea change in low-carbon development, said its recently departed executive director. Hela Cheikhrouhou, who has been appointed as Tunisia’s minister for…