Green Climate Fund
Also called: GCF · Topic: Climate Change: Causes, Evidence and the Global Response · NCERT: Beyond NCERT
Meaning
The Green Climate Fund (GCF) is a fund created under the UN climate convention (UNFCCC). It was set up at COP16 in Cancún, Mexico, in 2010. It helps developing countries cut their emissions and adapt to climate change. It is a key channel for climate finance, which is money from richer countries for climate action in poorer ones. Rich countries had a goal of $100 billion a year in climate finance by 2020, but the OECD found this was met only in 2022.
Example
The GCF's headquarters is in Songdo, South Korea. From there it approves funding for climate projects in developing countries, such as India.
Don't confuse with
- Loss and damage fund: this fund, agreed at COP27 (2022), pays for harm that adaptation cannot prevent. The GCF funds cutting emissions and adapting.
Related concepts
- Paris Agreement
- Nationally Determined Contributions
- Net zero
- Global Stocktake
- Loss and damage fund
- New Collective Quantified Goal on climate finance
- COP30 Belem (2025)