Green Climate Fund accreditation of Deutsche Bank sparks concern about integrity and reputation of Fund

A statement by a coalition of development, environment, and social justice organizations expressing disappointment and concern over the Green Climate Fund (GCF) Board's decision to accredit Deutsche Bank and other large financial institutions.

• The GCF Board's decision to accredit Deutsche Bank is criticized because the bank is a major financier of coal, has a poor human rights monitoring record, and has been fined for market manipulation and poor anti-money-laundering governance.
• The GCF has accredited several multilateral development banks, including the World Bank, the European Bank for Reconstruction and Development (EBRD), and the Inter-American Development Bank (IDB), despite concerns that their top-down, donor-driven nature contradicts the GCF's mandate to be responsive to developing country and community needs.
• The accreditation process is described as non-transparent and prone to political horse-trading, as the Board approved 13 applicants in a single bloc. This process allegedly allowed for the approval of entities despite serious reservations regarding their ability to conduct due diligence on high-risk projects, specifically mentioning the Development Bank of Latin America (CAF) and the African Finance Corporation.
• Civil society organizations claim they are excluded from the accreditation process because the names of applicants are kept secret until approval, preventing them from providing input on the track records of the institutions.

APA

Center for International Environmental Law (2015). Green Climate Fund accreditation of Deutsche Bank sparks concern about integrity and reputation of Fund. https://www.ciel.org/news/green-climate-fund-accreditation-of-deutsche-bank-sparks-concern-about-integrity-and-reputation-of-fund/

Chicago

Center for International Environmental Law. Green Climate Fund accreditation of Deutsche Bank sparks concern about integrity and reputation of Fund. 2015. https://www.ciel.org/news/green-climate-fund-accreditation-of-deutsche-bank-sparks-concern-about-integrity-and-reputation-of-fund/.

Wikipedia

{{cite press release |author=Center for International Environmental Law |title=Green Climate Fund accreditation of Deutsche Bank sparks concern about integrity and reputation of Fund |date=9 July 2015 |url=https://www.ciel.org/news/green-climate-fund-accreditation-of-deutsche-bank-sparks-concern-about-integrity-and-reputation-of-fund/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centerforinternationalenvironmentallaw2015green, author = {{Center for International Environmental Law}}, title = {{Green Climate Fund accreditation of Deutsche Bank sparks concern about integrity and reputation of Fund}}, publisher = {Center for International Environmental Law}, year = {2015}, month = jul, url = {https://www.ciel.org/news/green-climate-fund-accreditation-of-deutsche-bank-sparks-concern-about-integrity-and-reputation-of-fund/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }