Green Climate Fund

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  • The Green Climate Fund (GCF) is a fund established within the framework of the UNFCCC to assist developing countries in adaptation and mitigation practices to counter climate change. The GCF is based in the new Songdo district of Incheon, South Korea.
  • It is governed by a Board of 24 members and initially supported by a Secretariat.
  • The objective of the Green Climate Fund is to “support projects, programmes, policies and other activities in developing country Parties using thematic funding windows”. 
  • It is intended that the Green Climate Fund be the centrepiece of efforts to raise Climate Finance under the UNFCCC.
  • The Copenhagen Accord, established during the 2009 United Nations Climate Change Conference (COP-15) in Copenhagen mentioned the “Copenhagen Green Climate Fund”.
  • The fund was formally established during the 2010 United Nations Climate Change Conference in Cancun as a fund within the UNFCCC framework. 
  • Its governing instrument was adopted at the 2011 United Nations Climate Change Conference (COP 17) in Durban, South Africa.