Green Climate Fund
Green finance - environmental risk management.
(GCF).
The Green Climate Fund is a global fund established to support the efforts of developing countries to respond to the challenge of climate change.
The GCF pays particular attention to the needs of societies that are highly vulnerable to the effects of climate change, in particular Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States.
The GFC was set up by the 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, as part of the Convention’s financial mechanism. It aims to deliver equal amounts of funding to mitigation and adaptation, while being guided by the Convention’s principles and provisions.
When the Paris Agreement was reached in 2015, the GCF was given an important role in serving the agreement and supporting the goal of keeping climate change well below 2 degrees Celsius.
Source: Green Climate Fund webpage Green Climate Fund - who we are
See also
- Climate change: testing the resilience of corporates’ creditworthiness to natural catastrophes
- Climate risk
- Paris Agreement
- Risk management
- United Nations Framework Convention on Climate Change
