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Home / IAS Preparation / green climate fund upsc

Green Climate Fund (GCF): Formation, Features, Significance & More | UPSC Notes

Last Updated on Mar 21, 2025
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The Green Climate Fund was established in 2010 as part of the United Nations Framework Convention on Climate Change (UNFCCC) financial mechanism to channel funds from wealthy countries to poor countries in order to help them reduce climate change and adapt to its effects. The GCF is also the first climate finance mechanism to incorporate gender perspectives into all aspects of decision-making from the beginning of its operations to allocate its resources.

Green Climate Fund UPSC is one of the most important topics for the UPSC IAS exam. It covers a significant part of the Environment subject in the General Studies Paper-3 syllabus and current events of national and international importance in UPSC prelims. In this article, we shall study in detail about objectives, significance, key features, and financial mechanisms of the green climate fund GCF.

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GS Paper

General Studies Paper III

Topics for UPSC Prelims

World Climate and Climate Change, Intergovernmental Panel On Climate Change (IPCC), Global Climate Change Alliance

Topics for UPSC Mains

Environment Conventions & Protocols

What is Green Climate Fund?

The Green Climate Fund GCF is a new global fund that is created to support the efforts of developing countries to respond to the challenge of climate change. It also seeks to promote a paradigm shift to low-emission and climate-resilient development, taking into account the needs of nations that are particularly vulnerable to climate change impacts. 

Formation of GCF

The Green Climate Fund (GCF) is the world’s largest dedicated environmental fund, aimed at assisting developing countries in reducing greenhouse gas emissions while also preparing them to respond to climate change. This is accomplished by providing funds for projects, programs, policies, and other activities through a cutting-edge funding window. The United Nations Framework Convention on Climate Change (UNFCCC) formally created it as a finance mechanism in 2010. The Green Climate Fund Headquarters is located in Incheon, South Korea.

Aim of GCF

GCF’s aim is to encourage a paradigm shift toward low-emission and climate-resilient development by assisting developing nations in limiting or reducing greenhouse gas emissions (mitigation) and adapting to climate change implications. The mission of the GCF is to make a large and significant contribution to global efforts to achieve the international community’s climate change goals.

Also, check out the article on COP 24 UNFCCC here!

Key Features of the Green Climate Fund

Some of the key features of the Green Climate Fund include the following:

  • The Green Climate Fund is a global fund established under the UN Framework Convention on Climate Change (UNFCCC).
  • It assists developing countries in mitigation and adaptation practices to counter climate change.
  • It promotes the transition to low-emission and climate-resilient development.
  • Developing countries can access funds from the GCF. Funds are given to projects that help reduce greenhouse gas emissions and adapt to climate change impacts.
  • The GCF provides grants and concessional loans. It uses an array of financial instruments like equity, guarantees, etc.
  • It mobilizes financing at scale from public, private, and alternative sources for climate action.
  • The GCF is governed by a Board of 24 members. It is supported by a Secretariat that has its headquarters in Incheon, Republic of Korea.
  • The World Bank acts as the interim trustee for the GCF.
  • The GCF has set a funding allocation target of 50% for mitigation and 50% for adaptation. It endeavors to achieve a balance between different types of climate projects.
  • The funding provided by the GCF catalyzes climate finance at scale, both public and private.
  • It aims to promote environmental, social, economic, and development co-benefits. It takes a gender-sensitive approach.

Study in detail about the United Nations Development Programme here!

Investment Areas of the Green Climate Fund

There are two investment areas of GCF. Mitigation and Adaptation. Let’s study them in detail.

Investment Areas of the Green Climate Fund

Mitigation

Adaptation

Climate change Adaptation aims to improve the resilience of communities and ecosystems to climate change.

Climate change Mitigation interventions seek to reduce the release of greenhouse gas emissions or to increase the capacity of carbon sinks.

Electricity generation and energy supply

e.g. on-grid, micro-grid, the off-grid solar, wind, geothermal

People and localities who are most vulnerable

e.g. Globalization of supplies and supply chain management, as well as migration of production facilities and warehouses,

Transportation

e.g. high-speed rail, rapid bus system, etc.

Food and water security, as well as health and well-being

e.g. climate-resilient crops, efficient irrigation systems

Construction, cities, industries, and appliances

e.g. Energy efficient structures, new and refurbished energy-efficient buildings, environmentally sustainable equipment for businesses, supply chain management

Built environment and infrastructure

e.g. sea walls, resilient road networks, etc.

Land use and forest management

e.g. Filtration system and maintenance, forest protection and restoration, agroforestry, agricultural irrigation

Ecosystem services and ecosystems

e.g. ecosystem conservation and management, ecotourism, etc.

Also, study Climate Change for UPSC Preparation!

Financial Mechanism of GCF

The GCF is funded by contributions from developed countries. These contributions are voluntary. Yet, they are expected to reach $100 billion per year by 2020. The GCF is governed by a Board of Governors. It is made up of representatives from developed and developing countries. The Board approves projects for funding. It sets the strategic direction of the Fund.

The GCF has two main windows for funding:

  • The Adaptation Window is designed to help developing countries adapt to the impacts of climate change.
  • The Mitigation Window is designed to help developing countries reduce greenhouse gas emissions.

The GCF is a transparent and accountable fund.

Get details on various International Agreements with this link!

Significance of GCF
  • The GCF is a major source of funding for climate change adaptation and mitigation in developing countries. It has committed over $10 billion to projects and programs in over 100 countries.
  • The GCF is helping to build the capacity of developing countries to adapt to the impacts of climate change. It also supports projects that reduce greenhouse gas emissions and help to build a low-carbon future.
  • The GCF is a partnership between developed and developing countries. It helps to build trust and cooperation between these countries on climate change.
  • The GCF is a transparent and accountable fund. It has a clear set of rules and procedures, and it is subject to independent oversight.
  • The GCF is a significant step forward in the fight against climate change. It provides much-needed funding for adaptation and mitigation in developing countries. It helps to build a more sustainable future for all.
  • The GCF helps address the needs of the most vulnerable countries that are disproportionately affected by climate change.
  • The GCF helps to build a low-carbon economy. This is essential to protect the planet for future generations.

Also, study the Intergovernmental Panel on Climate Change with this link!

India and the GCF

The formation of the Green Climate Fund is significant for India. 

  • India demanded the establishment of a global system under the UNFCCC that would provide developing country aid.
  • The Ministry of Environment, Forests and Climate Change is India's Nominated Designated Authority for the GCF. The ministry will recommend financing proposals for national climate policies to the GCF board.
  • The International Solar Alliance and the Green Climate Fund have signed a joint declaration. This is to promote renewable energy as part of the Paris Agreement actions.
  • NABARD has been designated as the first entity to get financial resources from the GCF in India.
  • The India E-Mobility Financing Program will offer financing solutions to electric vehicle owners and operators.
  • The Green Growth Equity Fund will invest in low-carbon and climate-resilient sectors along the entire energy value chain.
  • A project is enhancing the climate resilience of coastal communities in Andhra Pradesh, Maharashtra, and Odisha.
  • A line of credit for solar rooftop power aims to build 250 MW of rooftop solar power. This can result in 5.2 million tonnes lower emissions over 20 years.
  • A project is improving the resilience of tribal communities in Odisha through solar micro irrigation and groundwater recharge. 
  • Only one project currently receives funding from the GCF in India - the Groundwater Recharge System Installation project in Odisha.

Adaptation Fund vs Green Climate Fund

Here's a summary of the key differences between the Adaptation Fund and the Green Climate Fund:

Difference Between Adaptation Fund and Green Climate Fund

Aspect

Adaptation Fund

Green Climate Fund

Purpose

Supports adaptation projects in developing countries

Supports both adaptation and mitigation projects

Funding

Share of proceeds from the Clean Development Mechanism (CDM)

Contributions from developed countries, private sector, and others

Governance

Adaptation Fund Board

Green Climate Fund Board

Access

Direct access for countries that ratified the Kyoto Protocol

Open to all developing countries

Project Size

Smaller-scale projects

Larger-scale projects

Results-Based Approach

Payments based on verified adaptation outcomes and results

Results-based approach for both adaptation and mitigation

Readiness Support

Support for project formulation, capacity building, and strengthening

Readiness support for accessing and utilizing climate finance

Conclusion

Green Climate fund is a global fund that helps developing nations fight climate change. Even though developed countries have made numerous financial advancements in support of the GCF’s objectives, there are still areas of resilience and deficiency that must be addressed in order to maintain a global system of governance. The Ministry of Environment, Forests and Climate Change (MoEFCC) has been chosen as India’s Nationally Designated Authority (NDA) for the Green Climate Fund (GCF). India is also making efforts and participating in the mission of the GCF.

Key Takeaways for UPSC Aspirants

  • Institution and Purpose: GCF was established in the 2010 UNFCCC Conference of Parties (COP 16) in Cancun to assist countries to develop new alternatives about combating climate change as well as its impacts.
  • The Funding Mechanism: Supplies financial resources from developed countries so that developing countries can act upon climate change with a goal of mobilizing US$ 100 billion by 2020.
  • Project Types: Core projects in the areas of renewable energy, energy efficiency, sustainable transport, climate-resilient infrastructure, reforestation, and agriculture.
  • Governance Structure: Governance is assumed by a board comprising equal representations from developed and developing countries, ensuring that contributors can vote with equal weight for clarity and transparency in decision-making.
  • Private Sector Engagement: Catalyze private sector investments in climate-friendly projects through initiatives such as the Private Sector Facility (PSF) to access complementing funds and expertise.
  • Impact on Sustainable Development: Its impacts on sustainable development would be through Sustainable Development Goals, ensuring the funded projects contribute to the global effort towards sustainability.
  • Monitoring and evaluation: Make use of robust monitoring and evaluation frameworks to assess the outcomes of the project, thus ensuring that funds are being used effectively with the implementation of the intended climate benefits.
  • India as a Donor and Beneficiary: The GCF projects have provided much-needed funds to India, not only as a donor but also as a beneficiary on the basis of GCF projects. This includes funding for solar energy initiatives and climate-resilient agriculture practices.

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Green Climate Fund UPSC FAQs

The Green Climate Fund (GCF) is the world's largest dedicated environmental fund, aimed at assisting developing countries in reducing greenhouse gas emissions while also preparing them to respond to climate change.

The World Bank is the trustee of the Green Climate fund.

The Green Climate Fund was established in 2010 as part of the United Nations Framework Convention on Climate Change (UNFCCC) financial mechanism.

The objective of the Green Climate Fund is to channel funds from developed countries to developing countries in order to help them reduce climate change and adapt to its effects.

GCF will be helpful in addressing climate change through use of its economic tools and mitigation and adaptation policies.

The Adaptation Fund (AF) was established in 2001 to help developing countries parties to the Kyoto Protocol who are especially vulnerable to the negative effects of climate change fund projects and programmes.

Yes, the Green Climate Fund is part of the United Nations Framework Convention on Climate Change (UNFCCC), but it operates independently.

The headquarters of the Green Climate Fund is located in Incheon, South Korea.

Individual countries do not set up the Green Climate Fund. It was established collectively by countries that are parties to the UNFCCC.
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