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The GCF's fifteenth annual report highlights a record year of programming with USD 3.26 billion approved in 2025 and a total portfolio exceeding USD 20 billion. Key institutional shifts include the establishment of regional offices in Panama City, Amman, Nairobi, Abidjan, and Suva to enhance country ownership and access. The Fund reports a near-parity balance between adaptation and mitigation in nominal terms, with 59.24% of the portfolio in grant equivalent terms dedicated to adaptation. Significant progress was made in private sector engagement, reaching a cumulative USD 7.21 billion. The report also details the 'Efficient GCF' initiative to reduce project appraisal times to nine months or less and the operationalization of a revised accreditation framework.

The GCF's 2025 administrative budget saw a total expenditure of USD 131.7 million, representing 98% of the approved USD 134.5 million budget. While the Board and Secretariat remained broadly within their budget envelopes, the Trustee's expenditure reached 130% of its budget due to higher-than-expected average annual cash balances. The independent units' execution was 88% overall, with the Independent Evaluation Unit spending 82% of its budget. Significant year-on-year increases in Secretariat spending were noted in travel (48%) and consultants (41%), driven by record programme delivery of USD 3.26 billion across 50 projects in 2025.

The document reports that as of March 31, 2025, the Inter-American Institute for Global Change Research had received 78% of the approved contributions for the 2024-2025 fiscal year. While overall expenses were 10% lower than budgeted, the Executive Directorate warns that delays in voluntary contributions significantly limit its operational capacity. The report also outlines projected voluntary contributions for the next three fiscal years, with the USA providing the largest share.

The IAI is requesting an operating budget of US$ 1.68 million for the 2025-2026 fiscal year, which remains unchanged from the previous year. Preliminary requests for subsequent years show a gradual increase, reaching US$ 1.8522 million by 2027-2028. The budget is funded by contributions from member countries, with the USA providing the largest share. The IAI reports administrative adjustments to optimize spending and a reduction in IT costs following its move to Panama.

The document reports that as of September 30, 2024, the Inter-American Institute for Global Change Research had received 38% of its member contributions for the 2024-2025 fiscal year. Total accumulated expenditures for the first three months of the fiscal year were $375,107, which is 10.7% lower than the budgeted amount of $420,000. Reductions in spending were most notable in operating costs (-22.7%) and travel and training (-10.9%).

The Inter-American Institute for Global Change Research reports that as of March 31, 2024, cash income reached 70% of approved contributions for the 2023-2024 fiscal year. Total expenditures for the period from July 2023 to March 2024 were US$ 832,446, which is 10.8% lower than the budgeted US$ 933,333. The report highlights a significant loss in purchasing power for Parties maintaining contributions at the US$ 5,000 level and urges those in arrears to submit voluntary contributions to ensure the Executive Directorate can fulfill its mandate.

The GCF Board's 37th meeting in Tbilisi, Georgia, resulted in the approval of 15 funding proposals totaling USD 736.4 million and the adoption of the 2024 administrative budget of USD 112.4 million. Key strategic outcomes include the endorsement of the Readiness Strategy 2024–2027, which allocates USD 501.5 million to enhance country ownership and direct access, and the confirmation of USD 9.3 billion in pledges for the second formal replenishment (GCF-2). The Board also established an ad hoc Committee on Human Resources Matters to address systemic compensation and policy issues. Significant discussions occurred regarding the potential for a regional presence to reduce operational bottlenecks and the ongoing debate over the financing of results-based payments for REDD+, which was deferred to the next meeting.

Earthjustice, a nonprofit public interest environmental law organization, reported total revenue of $170,827,511 and total expenses of $167,548,000 for the 2024 fiscal year. The organization focuses on protecting health, preserving ecosystems, and combating climate change through legal representation and advocacy. Its primary program areas include air and water pollution, biodiversity and wildlife, electrification and transportation, fossil fuel extraction and infrastructure, and toxics. Earthjustice also engages in limited lobbying, spending $3.1 million in fiscal year 2025 to influence legislation and regulations.

The GCF's second formal replenishment (GCF-2) resulted in total pledges of USD 9.322 billion from 25 contributors. A High-Level Pledging Conference held in Bonn, Germany, on 5 October 2023, served as the primary venue for these announcements. The process saw 72% of contributors increase their pledges relative to the first replenishment (GCF-1), with some countries doubling their contributions. The GCF's commitment authority for GCF-2 became effective during the conference after Austria, Germany, and Monaco signed contribution agreements, surpassing the required 25% effectiveness threshold.

The Independent Redress Mechanism (IRM) report details the processing of four specific project complaints (FP039, FP121, FP146, and FP001) and the implementation of its 2022-2023 work plan. Key operational activities included the development of a Gender Strategy Note, the creation of an educational board game called "road to redress," and the provision of mediation training for Direct Access Entities (DAEs). Financially, the IRM spent USD 1.34 million of its USD 1.65 million approved 2022 budget, representing an 81% utilisation rate.

As of September 30, 2022, the IAI had received 38% of its approved contributions for the 2022-2023 fiscal year. Total expenditures for the July-September period were $314,865, which is 10% lower than the budgeted $350,000. While salaries remained within budget, travel and training costs exceeded projections by 12.4% due to high ticket prices. Other categories, including equipment, operational costs, and dissemination, were under budget due to postponed purchases and improved resource management.

Earthjustice, a nonprofit public interest environmental law organization, reported total revenue of $125,960,142 and total expenses of $148,016,730 for the fiscal year ending June 30, 2023. The organization focuses on protecting health, preserving ecosystems, and combating climate change through legal representation and public awareness. Key financial activities include $117,451,493 in contributions and grants, and $118,249,374 in total program service expenses. Earthjustice also engaged in lobbying activities, spending $1.9 million to influence legislation, regulations, and nominations.

The IAI report for the 2020-2021 fiscal year indicates that only 57% of approved contributions were received by April 30, 2021, with 8 countries delayed by more than three years. Total expenditures from July 2020 to February 2021 were $777,655, which was 16.7% lower than the budgeted $933,333, primarily due to COVID-19 restrictions on travel and physical meetings. The report also notes that contributions remaining at $5,000 since 1992 have lost approximately 89% of their purchasing power.

As of May 2021, WWF spent $1,390,408 from its Emergency Fund for Amazon Fires to support firefighting equipment, supplies, and risk management in Brazil and Bolivia following the 2019 fire season, which saw over 12 million hectares burned.

The GCF Board's 27th meeting resulted in the adoption of the Updated Strategic Plan (2020–2023), which sets goals for the first replenishment period (GCF-1), including a 50:50 balance between mitigation and adaptation funding. The Board approved 15 funding proposals, including several REDD-plus and Simplified Approval Process (SAP) projects, and accredited four new entities. The meeting also covered the 2021 administrative budget, work plans for independent units, and discussions on the Integrated Results Management Framework (IRMF) and the MOPAN assessment.

Earthjustice, a nonprofit public interest environmental law organization, reported total revenue of $135,320,966 and total expenses of $127,720,008 for the fiscal year ending June 30, 2022. The organization focuses on protecting health, preserving ecosystems, and combating climate change through legal representation and public awareness. Its largest program service expenses were dedicated to providing free legal representation, totaling $71,294,848. Earthjustice maintains significant assets, with total assets reported at $276,651,694 and net assets of $245,809,918 at the end of the year. The organization also engages in international activities, including grants to entities in Sub-Saharan Africa and Australia.

The World Resources Institute (WRI) reported total revenue of $193,968,394 and total expenses of $183,476,237 for the 2021 tax year. The organization operates several global programs focused on food, forests, water, ocean, cities, climate, and energy, with significant grantmaking and operational activities across North America, South America, East Asia and the Pacific, Europe, and Africa.

The WWF-US Emergency Amazon Fire Fund raised approximately $1.5 million to provide firefighting equipment, medical supplies, and food to local civil society organizations and Indigenous peoples in Brazil and Bolivia following the 2019 fire season. The report highlights a vicious cycle where deforestation and climate change intensify droughts, increasing fire risks and reducing the Amazon's capacity to act as a carbon sink. In Brazil, the fund supported the Victoria Amazon Foundation in the Amazonas region to train brigades and conduct prevention workshops. In Bolivia, the fund provided critical water, food, and medical supplies to remote communities in the Santa Cruz and Chiquitano Dry Forest regions, where fires impacted over 5 million acres of forest and displaced families.

As of 30 April 2019, the GCF spent USD 21.1 million (26%) of its USD 80 million annual administrative budget and USD 0.4 million (20%) of its USD 2.1 million multi-year budget. The Secretariat accounted for the largest portion of spending at USD 18.4 million. Underspending in staff costs was attributed to slower-than-anticipated recruitment, while consultancy costs are expected to exceed the budget to maintain capacity. Expenditures for the Board, independent units, and the first formal replenishment process were all reported as being within acceptable limits.

The IAI Directorate is implementing Phase One of its Long-Term Funding Strategy, which focuses on planning, preparation, and identifying potential donors across philanthropy, entertainment, politics, and technology sectors. Key efforts include seeking 501(c)(3) tax-exempt status in the United States to facilitate external funding and pursuing 'Readiness Delivery Partner' status with the Green Climate Fund to support member countries. The IAI is also engaging in strategic partnerships, such as a climate resilient governance program for megacities in South America involving Argentina, Brazil, and Chile, and a global project on climate change and migration (SOURCES) led by the University of Amsterdam.