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The GCF is the largest multilateral climate finance contributor to African states, but its portfolio is heavily weighted toward mitigation (59%) over adaptation (41%), despite urgent regional needs. While the GCF has effectively leveraged co-financing, particularly through Multilateral Development Banks, it faces significant challenges in direct access, with only 18 Direct Access Entities (DAEs) accredited across 13 countries. The evaluation highlights cumbersome and rigid procedural barriers, including an English-only policy and high transaction costs, which hinder access for Least Developed Countries (LDCs) and Fragile, Conflict, and Violence (FCV) states. Gender-related co-benefits are growing, but engagement with indigenous peoples remains limited. The report recommends shifting the portfolio toward adaptation, streamlining accreditation and fee structures, and increasing regional presence in Africa.

As of 31 December 2022, the GCF has approved 209 funding proposals totaling USD 11.4 billion, with 182 projects under implementation. The portfolio maintains a near-equal balance between mitigation (51%) and adaptation (49%) in grant equivalent terms. The Readiness Programme has approved 649 grants totaling USD 468 million. While cumulative disbursements for funded activities reached USD 3 billion, the GCF reports implementation delays primarily attributed to the COVID-19 pandemic and other operational challenges. The report also details the status of condition fulfillment for approved projects and identifies specific activities requiring restructuring or cancellation.

The report details the Green Climate Fund's (GCF) overall pipeline as of January 2023, which consists of 422 projects with a total value of $72,320M (including co-financing). The pipeline is divided into Funding Proposals (76 projects) and Concept Notes (346 projects). Geographically, Africa represents the highest total value in the overall pipeline at $25,021M. Thematically, cross-cutting projects hold the highest total value at $45,194M. The report also tracks impact potential for the Funding Proposal pipeline, estimating 534,471,213 total beneficiaries and a reduction of 1,957,383,173 tCO2eq.

The Green Climate Fund (GCF) Country Programme for the Solomon Islands outlines a strategic approach to scaling up climate finance for a Small Island Developing State highly vulnerable to natural disasters. It identifies key priorities across energy, agriculture, and coastal protection, while mapping a pipeline of national and regional projects for the GCF-1 and GCF-2 periods. The report emphasizes the need to strengthen institutional capacity, engage the private sector—particularly MSMEs—and establish a robust governance structure to ensure country ownership and sustainable development outcomes.

The proposal outlines a comprehensive framework to enhance Oman's climate adaptation capabilities across five priority sectors: water resources, agriculture, fisheries and marine resources, infrastructure (including urban areas and tourism), and public health. It identifies six primary barriers, including inadequate legal frameworks and limited private sector engagement. The project aims to deliver a validated National Adaptation Plan, a National Climate Change Adaptation Policy, and a national financing strategy, while establishing a gender-sensitive monitoring framework and an online climate risk portal. The project is implemented by UNIDO with a total requested amount of USD 2,948,130.00.

This proposal seeks USD 781,219 over 24 months to address climate finance readiness gaps in Sri Lanka, with a primary focus on the agriculture sector. The project aims to update Technology Needs Assessments (TNAs) and Technology Action Plans (TAPs) across 15 sectors, update the Agro-Ecological Region (AER) map, and create a Climate-Smart Agriculture (CSA) investment plan. Key objectives include strengthening private sector engagement through a dedicated Working Group and public-private forums, developing two bankable GCF concept notes, and establishing a harmonized climate information system by linking the national portal to FAO's CAVA platform.

The report presents a quantitative overview of the Green Climate Fund (GCF) pipeline, categorising 410 overall projects and their associated financial values. It breaks down data for funding proposals and concept notes by sector (public and private), geographic region, and thematic focus (adaptation, mitigation, and cross-cutting), while also detailing the financial instruments used and the impact potential of the funding proposal pipeline.

The Project Preparation Facility (PPF) has disbursed and committed USD 32.8 million (82% of its USD 40 million allocation) to support the development of climate funding proposals. To date, PPF support has enabled 11 approved funding proposals totaling nearly USD 3.0 billion in investment. The Secretariat has reduced processing times by 84% through streamlined approvals and introduced simplified funding and service modalities to better support direct access entities (DAEs). To cover a pipeline of 28 active requests and anticipated new needs, the document requests an additional USD 18.0 million for the remainder of GCF-1.

The GCF Board's 31st meeting resulted in the approval of two funding proposals totaling approximately USD 187.6 million, the adoption of an updated accreditation framework, and the re-accreditation of several entities. The Board discussed the Second Performance Review (SPR) and the need for a more effective private sector strategy and simplified approval processes for Least Developed Countries (LDCs) and Small Island Developing States (SIDS).

The Green Climate Fund's overall pipeline as of April 2022 consists of 438 projects with a total value of $74,879M. The pipeline is divided between the Public Sector (DMA) and Private Sector (PSF), with the highest total values concentrated in the Asia-Pacific and Africa regions. Projects are categorised by themes including adaptation, mitigation, and cross-cutting, with cross-cutting projects representing the largest total value at $44,589M. The report further details funding proposals and concept notes, including their financial instruments and impact potential.

The GCF's private sector strategy aims to mobilize institutional finance and private capital for climate adaptation and mitigation in developing countries through a four-pronged approach: promoting conducive investment environments, accelerating innovation, de-risking market-creating investments, and strengthening domestic financial institutions. The report reviews the PSF's performance, noting a co-financing ratio of 3.25:1 and a heavy initial reliance on concessional loans. To meet its updated Strategic Plan targets, the GCF proposes expanding its use of equity and guarantees, improving the accreditation process via a project-specific assessment approach, and implementing a private sector outreach plan.

The report assesses the GCF's network of 113 accredited entities (AEs), evaluating their capacity to deliver on the Fund's strategic priorities. While the network is diverse and expanding—particularly in private sector and direct access entities—significant gaps remain in the ability of direct access entities (DAEs) to manage high environmental and social (E&S) risk projects and large-scale adaptation programming. The analysis highlights a low AE-to-project ratio, which may disincentivize institutional capacity building, and notes that GCF's internal processing capacity is currently insufficient to meet the growing volume of new and re-accreditation applications.

The report synthesizes evidence from the GCF-1 period, finding that while the institution has established its functional architecture, it continues to struggle with slow accreditation processes, limited direct access for national entities, and poor quality in results measurement and reporting. It highlights a lack of a formal accreditation strategy and persistent policy gaps at the Board level. While the portfolio is growing, most projects are still in early implementation stages, and the impact of the COVID-19 pandemic has compounded existing delays. The report identifies the need for a more strategic approach to paradigm shifts and the mobilization of private sector finance, noting that current results reporting lacks credibility due to inconsistent methodologies.

The proposal seeks USD 2,499,426 over 36 months to address the centralized nature of Togo's 2018 National Adaptation Plan (NAP). It aims to downscale adaptation planning to the regional level, specifically targeting the agriculture, water, and forestry sectors. Key objectives include establishing Regional Adaptation Plans (RAPs), creating a national knowledge management system for climate change adaptation, and developing a National Strategy for Private Sector Engagement. The project also intends to operationalize the National Investment Fund for Climate and Sustainable Development and develop a system for tracking adaptation finance to reduce reliance on international grants.

The GCF Secretariat exceeded several 2021 targets, allocating USD 1.2 billion in a single board meeting and reaching a total portfolio size of USD 10 billion. Key achievements include increasing the share of direct access entity (DAE) programming and reducing the time from project approval to first disbursement. However, the Secretariat faces significant capacity constraints in processing a pipeline of over 150 accreditation and re-accreditation applications, and the simplified approval process (SAP) remains the only programming target not met.

Togo is requesting a 24-month Readiness grant of USD 540,000 to address critical gaps in its climate change governance. The project focuses on operationalizing the National Designated Authority (NDA), reforming institutional frameworks, and enhancing technical expertise in greenhouse gas (GHG) inventories and Monitoring, Reporting, and Verification (MRV) systems. Key goals include reducing dependency on external expertise, improving the quality of national communications to the UNFCCC, and increasing the involvement of the private sector in climate finance. The program will be implemented by the Centre de Suivi Ecologique (CSE) of Dakar.

The report details the Green Climate Fund's pipeline, which consists of 433 total projects with a combined value of $75,379M (including co-financing). The pipeline is divided into funding proposals and concept notes, with significant allocations across Africa, Asia-Pacific, and Latin America and the Caribbean, focusing on adaptation, mitigation, and cross-cutting themes.

The proposal outlines a plan to mobilize the private sector in Burundi to address climate vulnerability. It focuses on three main objectives: nominating and preparing two national entities for Green Climate Fund (GCF) accreditation, developing an action plan to implement a private sector engagement framework, and training stakeholders in developing GCF project applications. The project is implemented by the Centre de Suivi Écologique (CSE) in collaboration with Burundi's Ministry of Environment, Agriculture, and Livestock.

The proposal seeks US$999,853 over 30 months to enhance the operational frameworks of the St. Kitts and Nevis Meteorological Services (SKNMS), National Emergency Management Agency (NEMA), Nevis Disaster Management Department (NDMD), and the St. Kitts and Nevis Geographic Information System (SKNGIS). Key objectives include updating national disaster plans, developing a Digital Storm Surge Model and Climate Change Risk Atlas, and creating a roadmap to increase private sector investment in climate action. The project also aims to support the development of at least two GCF concept notes featuring private sector involvement.

The Republic of Nauru is seeking USD 1,304,546.00 from the Green Climate Fund to implement Phase One of its National Adaptation Planning. This 18-month project focuses on strengthening governance, updating climate projections, and developing a robust evidence base to inform the updated Republic of Nauru Climate Change Adaptation and Disaster Risk Management Framework (RONAdapt). Key activities include establishing a Climate Change Adaptation Technical Working Group, conducting private sector risk assessments, and creating a centralised climate information database. The project addresses critical vulnerabilities including sea-level rise, extreme heat, and the legacy of phosphate mining, which acts as a 'threat multiplier' for climate risks.