The Green Climate Fund (GCF) Board approved a record volume of climate finance for developing countries this week, greenlighting 22 new projects for climate action around the world. The USD 1.332 billion total is the largest amount approved at a GCF Board meeting and brings the year’s total to USD 3.26 billion, a new high surpassing the previous record of USD 2.9 billion in 2021.
This record achievement emphasizes the Fund’s ongoing commitment to deliver support to developing countries as it heads to COP30 in Belem, Brazil. Ten years after approving its first projects in November 2015 and a decade since the Paris Agreement was adopted, GCF now has a portfolio of 336 projects amounting to USD 19.3 billion in GCF resources, USD 78.7 billion when expected co-financing is included.