Consideration of funding proposals – Addendum XII Funding proposal package for FP180

The GFCR Investment Window is a proposed $500 million fund, with $125 million requested from the Green Climate Fund (GCF) as a first-loss equity position. Managed by Pegasus Capital Advisors, the fund targets 'climate refugia'—reefs most likely to survive warming oceans—by investing in sustainable ocean production, ecotourism, and sustainable infrastructure to reduce local stressors. The program aims to protect 29,000 hectares of reef, create over 12,700 direct jobs, and benefit over 35 million people indirectly. It utilizes a dual-window model, pairing the Investment Window with a Grant Window to provide technical assistance and pipeline incubation.

• The GFCR Investment Window targets a total fund size of $500 million, with the GCF providing $125 million in a first-loss position as an anchor investor to de-risk private capital.
• The fund focuses on 'climate refugia', which are areas of the ocean that retain suitable habitats despite regional climate change and are critical for preventing biodiversity loss.
• Investments are concentrated in three primary sectors: sustainable ocean production (e.g., sustainable fisheries and mariculture), ecotourism (e.g., sustainably-managed resorts), and sustainable infrastructure and waste management (e.g., plastic waste management and sewage treatment).
• The program expects to protect 29,000 hectares of reef, which is estimated to provide $10 billion per year in ecosystem services.
• The fund aims to create 12,737 direct employment opportunities in sustainable businesses for communities dependent on coral reef ecosystems.
• The program identifies 35,236,406 indirect beneficiaries, consisting of populations dependent on reefs for economic output and protection from climatic events.
• The GFCR employs a dual-window model where a Grant Window (GW) provides technical assistance and capacity development to create an enabling environment for the Investment Window (IW).
• The fund's financial structure is designed to leverage GCF capital at a ratio of 1:3, with the expectation that every dollar of GFCR capital deployed will mobilize an additional $2.4 of debt or equity at the portfolio company level.
• The program targets 32 countries, with 17 having already provided No-Objection Letters (NOLs) as of October 1, 2021, including Brazil, Bahamas, Belize, Colombia, Comoros, Ecuador, Fiji, Guatemala, Indonesia, Jamaica, Jordan, Mexico, Mozambique, Panama, Philippines, Seychelles, and Sri Lanka.
• A comprehensive Gender Action Plan is integrated to empower women and girls, targeting at least 40% female participation in capacity building and 50% of direct and indirect jobs created.

APA

Green Climate Fund (2021). Consideration of funding proposals – Addendum XII Funding proposal package for FP180. https://www.greenclimate.fund/sites/default/files/document/gcf-b30-02-add12-rev01.pdf

Chicago

Green Climate Fund. Consideration of funding proposals – Addendum XII Funding proposal package for FP180. 2021. https://www.greenclimate.fund/sites/default/files/document/gcf-b30-02-add12-rev01.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=Consideration of funding proposals – Addendum XII Funding proposal package for FP180 |date=3 October 2021 |url=https://www.greenclimate.fund/sites/default/files/document/gcf-b30-02-add12-rev01.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2021consideration, author = {{Green Climate Fund}}, title = {{Consideration of funding proposals – Addendum XII Funding proposal package for FP180}}, institution = {Green Climate Fund}, year = {2021}, month = oct, url = {https://www.greenclimate.fund/sites/default/files/document/gcf-b30-02-add12-rev01.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }