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Consideration of accreditation proposals and activities – Addendum IV Accreditation assessment of APL176
The GCF Accreditation Panel recommends the accreditation of PT Indonesia Infrastructure Finance (PT IIF) as a national direct access entity in Indonesia for medium-sized projects (loans and guarantees) and small-sized projects (equity), with a capacity to manage high-risk (Category A/I-1) environmental and social projects. While PT IIF demonstrated strong fiduciary capacities in on-lending and blending, as well as robust environmental and social safeguards, the Panel identified gaps in public procurement disclosure, the operationalization of its grievance redress mechanism on its website, and the lack of a formal monitoring and evaluation policy. Consequently, accreditation is recommended subject to the applicant meeting these specific conditions before submitting its first funding proposal.
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Document type: Report
Cabo Verde Development Futures
The report projects that Cape Verde will experience significant urbanisation and GDP per capita growth by 2043, though it remains highly dependent on food imports and tourism. While various sectoral interventions—particularly free trade and manufacturing—could further boost GDP and reduce poverty, they are also projected to increase carbon emissions. The Combined Agenda 2063 scenario suggests a potential GDP increase to US$8.7 billion and a reduction of extreme poverty to 3.6% of the population by 2043.
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Document type: Report
Letter to the OECD Working Party on Responsible Business Conduct Concerning Its Technical Review of Indonesia
The document argues that Indonesia's legal framework fails to align with OECD Guidelines on Responsible Business Conduct, specifically regarding the recognition of Indigenous Peoples' land rights and the requirement for free, prior, and informed consent (FPIC). It highlights how 'national strategic projects' and the 'Omnibus Law' facilitate investment at the expense of human rights, often supported by military deployment. The coalition recommends that the OECD demand a timeline for the Indigenous Peoples’ Rights Bill, accelerated land recognition, and the cessation of military involvement in development projects.
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Document type: Statement
10 Project Finance Lessons from Europe’s Geothermal-Lithium Lighthouse
The Lionheart project in Germany's Upper Rhine Valley secured a €2.2 billion financing package in December 2025 to integrate geothermal power, heat, and lithium extraction. To attract investors amid market volatility, the project employed ten specific financial and operational de-risking measures, including a conservative 60:40 debt-to-equity ratio, government equity from KfW, and a diversified revenue model selling lithium, power, and heat. The project aims to produce lithium hydroxide monohydrate for 500,000 EV batteries and heat for 90,000 homes annually by 2028.
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Document type: Case study
Achieving a just energy transition in Kenya’s electricity sector: exploring the role of policy coherence
The report finds that while Kenya has successfully increased its renewable electricity generation to 87% by 2022, the transition lacks policy coherence regarding affordability and equity. High electricity tariffs, driven by infrastructure investments and a distribution monopoly, hinder industrial competitiveness and limit energy access for vulnerable groups. The analysis identifies a significant trade-off between coal-based industrialization goals and climate mitigation targets, though the latter has gained dominance due to international financial pressure. Institutional barriers, including corruption and limited resources for social equity, further impede a just transition.
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Document type: Report
From threat to opportunity: Redefining energy security in Central and Eastern Europe
The document outlines a new energy security framework for Central and Eastern Europe, emphasizing the transition to clean energy to reduce vulnerabilities associated with fossil fuel imports and geopolitical instability. It advocates for the removal of fossil fuel subsidies, the establishment of a grid security framework to counter hybrid warfare, and the expansion of the EU single energy market through harmonized permitting and increased interconnectivity. Additionally, it calls for the EU to adopt an incentive-based investment approach, similar to the U.S. Inflation Reduction Act, to maintain global competitiveness and avoid reliance on non-EU financing.
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Document type: Policy brief
From threat to opportunity: redefining energy security in Central and Eastern Europe
The document outlines a new energy security framework for Central and Eastern Europe, emphasizing the transition from fossil fuel imports to clean energy to mitigate geopolitical risks. It calls for the elimination of fossil fuel subsidies, the creation of a grid security framework to counter hybrid warfare, and the expansion of the EU single energy market through harmonized permitting and increased interconnector investment. Additionally, it advocates for an incentive-based investment approach similar to the US Inflation Reduction Act to maintain European competitiveness and prevent reliance on non-EU financing.
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Document type: Policy brief
Trump administration’s policies support rapid growth of geothermal power in United States
Geothermal energy in the U.S. is positioned for rapid growth due to bipartisan support and advancements in Enhanced Geothermal Systems (EGS), with 1.16 GW of capacity expected to come online by 2028. While the Trump administration has deprioritized wind and solar, geothermal has benefited from new categorical exclusions in permitting and expanded tax credits. EGS technology, leveraging oil and gas drilling techniques, allows for expansion beyond traditional geological constraints and is increasingly viewed as a viable 24/7 power source for AI data centers. However, the report notes that geothermal alone cannot meet 2030 electrical demand without the continued rollout of prospective wind and solar capacity.
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Document type: Report
Trump administration’s policies support rapid growth of geothermal power in the United States with 1.2 GW planned by end of term
The briefing highlights the bipartisan support and technological advancements, particularly in Enhanced Geothermal Systems (EGS), that are driving geothermal growth in the U.S. It notes that 1.16 GW of capacity is expected by 2028 and that the Trump administration's policies, including permitting exclusions and support from Energy Secretary Chris Wright, favor the sector. However, the author argues that geothermal cannot replace wind and solar, which are necessary to meet a projected 128 GW increase in demand by 2030.
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Document type: Briefing
Win-Win Green Partnership: China Is Capable, Is Africa Ready?
The document examines the complementary strengths of China, as a global leader in green technology manufacturing, and Africa, which possesses vast renewable energy potential and critical mineral reserves. It highlights the shift in China's approach toward treating Africa as a business partner and details the specific clean energy commitments made during FOCAC 2024. However, it argues that Africa must enhance its own internal resource mobilization, reduce dependency on external aid, and improve project implementation timelines to fully realize these opportunities.
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Document type: Policy brief
Supercharging national climate plans
Project Drawdown analyzed the NDCs of eight African countries—Congo, Ethiopia, Malawi, Niger, Rwanda, Senegal, Tanzania, and Uganda—to identify synergies between climate mitigation and socioeconomic development. While all eight countries acknowledge poverty and gender mainstreaming, only Congo, Malawi, and Rwanda explicitly link climate solutions to specific human well-being dimensions. The analysis identifies 14 frequently cited solutions, such as Clean Cooking and Distributed Solar Photovoltaics, but notes the omission of other high-impact 'double-duty' solutions like Reduced Food Waste and Family Planning and Education. The report argues for recognizing Agriculture, Forestry, and Other Land Use (AFOLU) actions as both mitigation and adaptation tools and diversifying decentralized renewable energy to combat energy poverty in rural communities.
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Document type: Research paper
Local Opportunities and Global Disputes: Tracking Japan’s Engagement with Africa amid Geopolitical Tensions
Japan is transitioning its Africa strategy from Official Development Assistance (ODA) toward private sector-led investment, specifically targeting critical minerals and green energy. This shift is driven by strategic competition with China, particularly regarding supply chain security for rare earth elements and the G7's desire to provide alternatives to Chinese infrastructure loans. While the Japanese government is actively promoting this 'business-based' approach through initiatives like the Green Growth Initiative for Africa and the Minerals Security Partnership, the transition is hindered by high risk perception among Japanese companies.
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Document type: Policy brief
Electrical Utilities Background Paper
The report establishes a framework for certifying electrical utilities and their debt instruments based on their alignment with a 1.5-degree warming scenario. It defines a global emission intensity transition pathway based on IEA Net Zero (NZE) 2023 data, requiring utilities to reduce carbon intensity from 460 gCO2/kWh in 2025 to 0 by 2050. The criteria distinguish between existing capacity, which may be retrofitted with carbon capture or low-carbon co-firing, and new capacity, for which no new fossil fuel investments are eligible. It also sets specific non-combustion emission thresholds for hydropower, geothermal, and bioenergy, and incorporates EU Taxonomy standards for CO2 transport and methane leakages.
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Document type: Report
Electrical Utilities Background Paper Development of Eligibility Criteria under the Climate Bonds Standard & Certification Scheme
The report outlines the development of certification criteria for electrical utilities to ensure their financing aligns with the Paris Agreement. It establishes a global emissions intensity transition pathway based on the IEA Net Zero Emissions (NZE) by 2050 scenario, targeting near-zero emissions for the power sector by 2040. The criteria distinguish between existing capacity, which must follow phase-out or retrofitting benchmarks, and new capacity, which must be low-carbon as no new fossil fuel plants are eligible. It also details specific thresholds for non-combustion emissions in hydropower, geothermal, and bioenergy, and sets requirements for decarbonization measures like Carbon Capture and Storage (CCS) and hydrogen co-firing.
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Document type: Report
Survey results Energy Futures of Europe
A survey of 58 European climate experts reveals skepticism about Europe's ability to meet its 2030 and 2050 climate goals, citing lagging investments and bureaucratic hurdles. While experts show varying confidence in technologies like CCS and hydrogen, there is a notable call for a more prominent role for nuclear energy and a shift toward 'technology optionality' and simplified, incentive-based policymaking.
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Document type: Report
The uk clean power plan
The briefing analyzes pathways from the Climate Change Committee (CCC), National Grid, and Energy Systems Catapult (ESC) to demonstrate that the UK power sector can be nearly fossil-free by 2035. It argues that phasing out unabated gas will reduce reliance on expensive imports, lower electricity bills, and stimulate a green industrial revolution. While the models differ on the roles of nuclear and Carbon Capture and Storage (CCS), they agree on the centrality of wind and solar power and the need for increased energy storage and hydrogen capacity.
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Document type: Briefing
The Landscape of Climate Finance in Kenya
In 2018, Kenya received KES 243.3 billion (USD 2.4 billion) in climate finance, which is approximately half of the annual funding required to meet its NDC targets. The report highlights a significant imbalance in fund allocation, with 79.8% of finance directed toward mitigation—primarily large-scale renewable energy—while adaptation received only 11.7%. Public finance accounted for 59.4% of the total, and private finance 40.7%. Major investment gaps exist in the water, forestry, and transport sectors. The document recommends scaling up adaptation finance, implementing private sector incentives for non-energy sectors, and operationalizing 'Segment 8' in the Integrated Financial Management and Information System (IFMIS) to improve climate expenditure tracking.
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Document type: Report
Integration of Climate Data in the SAVi Energy Model
The document details how climate variables from the Copernicus Climate Data Store (CDS) are integrated into the SAVi Energy model to quantify the impact of climate change on various power generation technologies. It provides a comprehensive literature review of how variables like temperature, wind speed, and precipitation affect the load factor and thermal efficiency of coal, gas, nuclear, biomass, hydro, solar, and wind power, as well as the efficiency of the electricity grid. The report includes a simulation for Johannesburg, South Africa, demonstrating that rising temperatures and changing precipitation patterns can significantly reduce the load factor and revenues for thermal and hydropower assets, while potentially increasing the load factor for wind energy.
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Document type: Report
Climate Change and Sustainable Development in the Kenyan Electricity Sector
The report evaluates emission pathways and technology options for Kenya's electricity sector to ensure alignment with the Paris Agreement and sustainable development goals. It argues that avoiding coal and limiting natural gas in favor of geothermal, mini-grids, and energy efficiency is essential for a Paris-compatible trajectory. The document highlights a misalignment between previous climate documents and actual sector planning, recommending integrated planning processes and the creation of a Long-term Strategy to provide transparency and a clear economic vision.
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Document type: Report
Analysis of Electricity Demand in North Sumatra Province and the Planned Batang Toru Hydroelectric Power Plant’s Impacts
The report concludes that the Batang Toru hydroelectric project is an unnecessary endeavor that threatens the Tapanuli orangutan with extinction. It finds that North Sumatra already has a power surplus and that planned gas, geothermal, and other hydroelectric projects render Batang Toru's peak and baseload power redundant. Furthermore, the report argues that the project's claims regarding CO2 emission reductions and balance of payments relief are significantly inflated or incorrect, while highlighting the operational risks associated with the contractor, Sinohydro.
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Document type: Report