The Green Climate Fund (GCF) is a fund that was established in 2010 by 194 countries that are party to the United Nations Framework Convention on Climate Change (UNFCCC). It became fully operational in 2015 and is the operating entity of the UNFCCC’s financial mechanism. With its Head Quarters in the Republic of Korea, the GCF is committed to helping developing countries reduce their greenhouse gas (GHG) emissions and adapt to climate change. Investments made by the GCF are aimed at achieving the greatest impact in the developing world and supports the paradigm shifts in adaptation and mitigation. These strategic investments will limit or reduce greenhouse gas (GHG) emission in developing countries, and help vulnerable societies adapt to the unavoidable impacts of climate change. 

The GCF offers a range of financing instruments to both the public and private sectors in implementing projects that are related to climate change adaptation and/or climate change mitigation. Over time, GCF aims for a fifty-fifty (50:50) balance between adaptation and mitigation. The GCF has made - several windows available for financing and technical support for a programmatic approach to engaging the GCF on implementing climate actions. These include funding windows for (i) mitigation and adaptation; (ii) the Private Sector Facility (which also encompasses pilot programmes for mobilizing resources at scale, and for support to micro, small and medium sized enterprises); (iii) the Readiness and Preparatory Support Programme (which includes a Project Preparation Facility and a programme providing support for national adaptation planning); (iv) a REDD+ results-based payment programme; and, (v) an Enhanced Direct Access Programme designed to enhance Fund access by sub-national, national and regional, public and private entities.

GCF engages directly with countries through a network of National Designated Authorities (NDAs) and channel financing for implementation through its Accredited Entities (AEs). The National Designated Authorities (NDAs) are representative of governments party to the Convention, who provide broad strategic oversight of the GCF activities in their respective country. On the other hand, the Accredited Entities partner with GCF and the NDA to develop and implement projects aligned with the investment criteria and result areas of the GCF. An Accredited Entities can be private or public, non-governmental, sub-national, national, regional or international, as long as they meet the standards of GCF.  With the assistance of the Accredited Entities, countries devise project ideas to submit to the GCF for approval.