In Short : The Green Climate Fund (GCF) provides grants and financial assistance to help developing countries combat climate change. Grants support mitigation projects to reduce emissions, adaptation projects to enhance resilience, capacity building for effective climate action, and innovative technologies. Additionally, the GCF encourages private sector investment in climate-friendly initiatives, promoting low-emission, climate-resilient development pathways.
In Detail : The Green Climate Fund (GCF) was set up under the United Nations Framework Convention on Climate Change (UNFCCC) at the 16th Conference of the Parties (COP-16) in 2010 to support developing countries in reducing greenhouse gas emissions and strengthening capacity to adapt to climate change. The Fund aims to mobilize funding at scale to invest in low-emission and climate-resilient development. All developing country Parties to UNFCCC are eligible to receive resources from the GCF in the form of grants, loans, equity, and guarantees. The GCF has started approving projects/programmes to developing countries from 2015 onwards.
The Government of India has been engaging with the GCF and so far, eleven (11) projects/ programmes have been approved to India with a total allocation of USD 782.4 million to mitigate and adapt to climate change in sectors including water, clean energy, coastal, livelihood, transport, medium and small enterprises and climate start-ups. The details of projects are given below:
This information was given by the Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh in a written reply in the Rajya Sabha today.
