Climate Change Focal Area Study

Back

Downloads: 1

Strategic/ Thematic 2017

Climate Change Focal Area Study

Agency

Overview

The global landscape for climate change finance has significantly evolved since the GEF became the first operating entity of the Financial Mechanism of the United Nations Convention on Climate Change (UNFCCC) in 1996. New institutions have been established; the designation of the Green Climate Fund as a second operating entity of the Financial Mechanism is an important milestone in the climate finance architecture. The GEF's available resources continue to be important for its many recipient countries. The challenge is to use these resources in the most effective way to engage other sources of finance and catalyze transformational change. The recent Climate Change Focal Area Study found several features that distinguish the GEF from other multilateral climate funds. These features include the provision of significant and flexible grant financing; a focus on the enabling environment to support scaled-up public and private climate investment; an emphasis on demonstrating technologies and financial approaches, including innovative and risk-sharing approaches; an ability to fund integrated projects across environmental issues; and the GEF's support for countries to meet their Convention obligations.