The Green Climate Fund (GCF) is a  global fund created by the United Nations (UN) to support the efforts of developing countries to respond to the challenge of climate change. The Fund is intended to help these countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change; seeks to promote a ‘paradigm shift’ to low-emission and climate-resilient development, while taking into account, the needs of those nations that are particularly vulnerable to the impacts of climate change.

The GCF is part of the United Nations Framework Convention on Climate Change (UNFCCC)’s financial mechanism that aims to provide equal amounts of funding to mitigation and adaptation, while being guided by the Convention’s principles and provisions.

GCF launched its initial resource mobilization in 2014, and rapidly gathered pledges worth US $10.3 billion. These funds come mainly from developed countries, but also from some developing countries, regions, and one city (Paris).

GCF’s activities are aligned with the priorities of developing countries through the principle of country ownership, and the Fund has established a direct access modality so that national and sub-national organisations can receive funding directly, rather than only via international intermediaries.

The Fund aims to use public investment to stimulate private finance to  unlock the power of climate-friendly investment for low emission, climate resilient development. To achieve maximum impact, GCF seeks to catalyse funds, multiplying the effect of its initial financing by opening markets to new investments.

The Fund’s investments can be in the form of grants, loans, equity or guarantees.  The first GCF Caribbean country project was launched in Barbados in June 2019 .