Grants and Contributions:

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Title:

Support to the Second Replenishment of the Green Climate Fund

Agreement Number:

7456857 P012385003

Agreement Value:

$36,000,000.00

Agreement Date:

Feb 29, 2024 - Mar 31, 2024

Description:

The second replenishment of the Green Climate Fund (GCF-2) aims to build on the Green Climate Fund’s (GCF) existing portfolio to deepen its support to key transformative initiatives identified by countries in each of its eight results areas (energy generation and access; transport; buildings, cities, industries and appliances; forests and land use; health, food and water security; livelihoods of people and communities; ecosystems and ecosystem services; infrastructure and the built environment) to achieve the Paris Agreement goals. The Paris Agreement works to bring all nations into a common cause to undertake ambitious efforts to combat climate change and adapt to its effects, with enhanced support to assist developing countries to do so. The Paris Agreement aims to limit the global temperature increase to well below 2 degrees above pre-industrial levels, and to pursue efforts to limit the temperature increase to 1.5 degrees. The GCF is the world’s largest dedicated fund working to help developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change. The GCF is a financial mechanism of the United Nations Framework Convention on Climate Change, and is one of the principal mechanisms for developed countries to deliver on their Paris Agreement commitment to support mitigation and adaptation efforts in developing countries. The GCF programmes globally but specific attention and prioritization is given to Least Developed Countries, Small Island Developing States, and Africa. Project activities include: (1) helping at least 570 - 900 million people in the poorest and most vulnerable developing countries adapt to the effects of climate change; and (2) reducing greenhouse gas emissions by at least 1.5 to 2.4 billion tonnes.

Organization:

Global Affairs Canada

Expected Results:

The expected outcomes for this project include: (1) increased capabilities in developing countries for transformational planning and programming; (2) catalysing climate innovation; (3) strengthened innovation through mobilizing investments at scale; and (4) increased knowledge to replicate success and support the alignment of financial flows with the Paris Agreement.

Location:

Incheon, KR

Reference Number:

064-2024-2025-Q2-00158

Agreement Type:

Grant

Report Type:

Grants and Contributions

Recipient Type:

Not-for-profit organization or charity

Additional Information:

Belated reporting that should have been included in the 2023-2024 4th Quarter report.

Recipient's Operating Name:

Green Climate Fund

Recipient's Legal Name:

Green Climate Fund

Federal Riding Number:

Program:

International Development Assistance Program

Program Purpose:

The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.