Africa and the Green Climate Fund: current challenges and future opportunities

A quantitative analysis of 10 multilateral development banks’ investment in conventional and renewable power-generation technologies from 2006 to 2015

“…providing government-funded facilities that MDBs can use to partially refinance loans to RET projects). Interestingly, the vast majority of early financing for RET programs from the Green Climate Fund (GCF), which was established within the United Nations Framework Convention on Climate Change (UNFCCC), has accordingly be approved for projects brought forward by MDBs (89% of approvals 2015-2017, see Figure 6), despite 'direct access' for developing countries being a key principle of the GCF 36 . Our analysis suggests that, for the GCF or other climate finance facilities, policymakers might consider the differences between the public-and private-sector branches of MDBs.…”

Customising global climate science for national adaptation: A case study of climate projections in UNFCCC’s National Communications

“…1). Factors that have influenced such countries’ capacity to perform the scientifically more demanding parts of the National Communications include: science and technology transfer in the form of free-to-use climate modelling software such as PRECIS; free training sessions provided by UNFCCC to give expert guidance on how to prepare climate projections for the National Communications (UNFCCC, 2012, 2016); financial support to help fund the National Communication process; and countries’ requirements to ‘develop high quality [Green Climate Fund] proposals that demonstrate need [vulnerabilities]’ to increase access to financial aid tied to adaptation and mitigation (Fonta et al, 2018: 1215).…”

The emergence of green bonds as an integral component of climate finance in South Africa

“…4 The Climate Funds Update is one of the largest databases on multilateral climate finance initiatives and the Green Climate Fund set up by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010 has now become the largest climate fund for developing regions such as sub-Saharan Africa, Asia and the Middle East. 4,5 However, there have been challenges facing many developing countries that have tried to access this finance. These challenges arise because developing countries have difficulties in the design and co-ordination of projects due to a lack of effective institutions and expertise.…”

“…These challenges arise because developing countries have difficulties in the design and co-ordination of projects due to a lack of effective institutions and expertise. 5 This also creates challenges in the planning and coordination of projects. 5 Furthermore, a 2018 report by the World Bank on climate finance, estimated that more than USD200 million per annum will be required for each developing country to have proper strategies and capacity-building frameworks to build resilience against climate change.…”

“…5 This also creates challenges in the planning and coordination of projects. 5 Furthermore, a 2018 report by the World Bank on climate finance, estimated that more than USD200 million per annum will be required for each developing country to have proper strategies and capacity-building frameworks to build resilience against climate change. 6 It is therefore important that, in order to meet their commitments to the Paris Agreement, developing countries explore other finance opportunities for climate mitigation or adaptation strategies, of which green bonds are one.…”