Report on 10th Meeting of the Green Climate Fund (GCF) Board 6-9 July 2015, Songdo, Korea

The 10th GCF Board meeting resulted in the accreditation of 13 new entities, including the World Bank and Deutsche Bank, despite civil society opposition. The Board approved a US$200 million pilot for Enhanced Direct Access, alongside other pilots for MSMEs and resource mobilization. Additionally, US$2.5 million was allocated for readiness support in nine countries, and the Fund's total signed contributions reached US$5.47 billion.

• The GCF Board accredited 13 new entities, bringing the total to 20 (5 national, 5 regional, and 10 international). This included the accreditation of Deutsche Bank and the World Bank, which faced strong opposition from civil society organizations due to their roles as major fossil fuel funders.
• A five-year pilot phase for Enhanced Direct Access (EDA) was launched with US$200 million to fund at least ten pilots. At least four of these pilots are designated for African States, Least Developed Countries (LDCs), and Small Island Developing States (SIDS).
• The GCF allocated funding for two additional pilot programs starting in 2016: US$200 million for micro, small, and medium-sized enterprises (MSMEs) and US$500 million for mobilizing resources at scale.
• The GCF Secretariat allocated US$2.5 million for a readiness and support program to help nine countries build capacity for national engagement with the Fund. The recipient countries are Comoros, the Dominican Republic, the Democratic Republic of Congo, Ethiopia, Mali, the Federated States of Micronesia, Rwanda, Thailand, and Togo.
• The Board agreed to further develop a monitoring and accountability framework for accredited entities, focusing on compliance with gender policy, fiduciary standards, and environmental and social safeguards, as well as measures for non-compliance and local monitoring.
• The GCF reached effectiveness in May 2015, with total signed contributions amounting to US$5.47 billion. The Secretariat expects to make funding decisions totaling approximately US$1.4 billion in 2015.
• No consensus was reached regarding the primary financial instrument to be used by the Fund, as developing country Board members pushed for grants while the Secretariat supported low-level concessional loans.

APA

Carbon Market Watch (2015). Report on 10th Meeting of the Green Climate Fund (GCF) Board 6-9 July 2015, Songdo, Korea. https://carbonmarketwatch.org/wp-content/uploads/2015/11/Report-on-10th-Meeting-of-the-GCF_final.pdf

Chicago

Carbon Market Watch. Report on 10th Meeting of the Green Climate Fund (GCF) Board 6-9 July 2015, Songdo, Korea. 2015. https://carbonmarketwatch.org/wp-content/uploads/2015/11/Report-on-10th-Meeting-of-the-GCF_final.pdf.

Wikipedia

{{cite report |author=Carbon Market Watch |title=Report on 10th Meeting of the Green Climate Fund (GCF) Board 6-9 July 2015, Songdo, Korea |date=2015 |url=https://carbonmarketwatch.org/wp-content/uploads/2015/11/Report-on-10th-Meeting-of-the-GCF_final.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{carbonmarketwatch2015report, author = {{Carbon Market Watch}}, title = {{Report on 10th Meeting of the Green Climate Fund (GCF) Board 6-9 July 2015, Songdo, Korea}}, institution = {Carbon Market Watch}, year = {2015}, url = {https://carbonmarketwatch.org/wp-content/uploads/2015/11/Report-on-10th-Meeting-of-the-GCF_final.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }