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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.

As of March 31, 2026, the GCF has total pledged amounts of USD 30.0 billion, with USD 24.0 billion in committed funding. The Fund's accredited entity network has grown to 168 entities, with a strong emphasis on Direct Access Entities (DAEs). The portfolio shows a shift toward adaptation, which now represents 59% of funding in grant equivalent terms. The GCF is managing a pipeline of 139 concept notes and 51 funding proposals. However, several projects face implementation challenges, including the Mali solar rural electrification project, which is awaiting formal termination following the government's decision to cancel co-financing.

The briefing warns that Pacific SIDS are facing a convergence of geopolitical and climatic crises. The war in Iran is driving up fuel and food prices due to shipping disruptions and import dependence, leading to states of emergency in Tuvalu and the Marshall Islands. This economic strain is expected to be compounded by a strong El Niño in the second half of 2026, which threatens tuna stocks, freshwater access, and agricultural productivity. The document recommends immediate anticipatory action, such as pre-positioning supplies and expanding early warning systems, alongside long-term investments in regenerative agriculture and regional fisheries management.

The authors argue that the upcoming UN General Assembly resolution to operationalize the International Court of Justice's (ICJ) Advisory Opinion on climate change is a critical test of global climate leadership. They assert that the resolution reflects existing legal obligations to prevent climate harm, provide reparations, and ensure a just transition from fossil fuels. While noting resistance from major emitters and oil producers who seek to weaken the text, the authors maintain that the resolution complements existing UNFCCC processes by closing an 'accountability gap' that the treaty regime has failed to address.

The programme aims to transition smallholder farmers in Tonga, Vanuatu, and Samoa to Climate Resilient and Regenerative Agriculture (CRRA) to combat food insecurity caused by erratic rainfall, rising temperatures, and intense cyclones. With a total budget of 43,690,709 USD, the initiative focuses on three priority systems: mixed horticulture in Tonga, kava intercropping in Vanuatu, and taro intercropping in Samoa. The strategy employs a 'learning by doing' approach using 90 'Learning Farms' to provide evidence of financial viability, which will then be scaled to 12,510 farmers. Key components include a Farmer Support Programme (FSP) to cover upfront costs, the creation of national CRRA Working Groups for policy reform, and the development of digital agricultural apps and monitoring systems to track soil health and productivity. The project expects to restore 20,730 hectares of land and provide direct adaptation benefits to 50,654 individuals by 2031.

The Tassiriki Call, adopted in April 2026, outlines a vision for a Fossil Fuel Free Pacific based on 100% renewable energy and the 1.5°C temperature limit. It advocates for a global Fossil Fuel Treaty, scaled-up grant-based finance, and the creation of an Inter-Governmental Taskforce for a Just Transition to a Fossil Fuel Free Pacific. The statement emphasizes the need for a managed decline of fossil fuel production and warns against the use of carbon capture and geoengineering to justify continued production.

The report analyzes the first round of Article 6.2 reviews, finding that every reviewed Initial Report contained inconsistencies with reporting requirements. It argues that the Technical Expert Review Team (TERT) lacks the mandate to judge credit quality or enforce compliance, rendering the process a 'box-ticking exercise'. Case studies on Switzerland, Ghana, Guyana, and Vanuatu illustrate how high-risk or non-compliant credits can be traded despite transparency gaps. The author recommends extending the TERT mandate to include quality assessments and prohibiting the trade of credits until reviews are finalized.

The report identifies systemic gender barriers in the agricultural sectors of Tonga, Vanuatu, and Samoa, where patriarchal norms limit women's access to land, credit, and decision-making. It outlines a Gender Action Plan to increase the visibility of female agricultural leaders and ensure that climate adaptation strategies address the disproportionate burdens faced by women, such as increased unpaid care work and higher vulnerability to gender-based violence during disasters.

The GCF Accreditation Panel recommends the World Health Organization (WHO) for accreditation under the 'medium' size category and 'medium risk (category B)' environmental and social risk category. The assessment finds that WHO meets basic fiduciary standards, project management standards, and gender policy requirements. While WHO's Environmental and Social Safeguards Framework (ESSF) is considered adequate, the panel noted a gap regarding the lack of an external evaluation of the ESSF, which is set as a condition for accreditation to be resolved within two years of the first funded activity. WHO's track record includes managing large-scale grants, such as a USD 192.92 million project for the Global Polio Eradication Initiative and various climate-resilient health projects in the Pacific and Asia.

The briefing identifies a significant gap in global efforts to reduce agricultural methane, noting that only 4% of NDCs include specific targets for the sector. It argues that current policies rely too heavily on technical 'end of pipe' solutions like biogas and feed additives, while failing to address systemic issues such as overconsumption of animal protein and the need for dietary shifts. The document highlights 'agricultural exceptionalism' as a barrier in high-livestock producing countries and warns that some nations, such as Aotearoa (New Zealand), are weakening their targets. It recommends that NDCs implement mandatory reduction targets aligned with a 1.5°C trajectory and prioritize sustainable diets and agroecology.

The document examines the role of the proposed UN Legally Binding Instrument (LBI) in addressing corporate impunity for environmental and human rights abuses. It argues that existing voluntary frameworks, such as the UN Guiding Principles on Business and Human Rights, are inadequate because they lack enforceable obligations. The LBI is presented as a mechanism to turn the right to a clean, healthy and sustainable environment (RtHE) into actionable obligations, including strict liability for parent companies and extraterritorial jurisdiction. The text highlights specific cases of corporate harm in Uganda, Chile, Senegal, India, Brazil, Colombia, Serbia, Iraq, and the 'Lithium Triangle' to illustrate the need for binding regulation. It also discusses how recent Advisory Opinions from the International Court of Justice and the Inter-American Court of Human Rights reinforce the necessity of state-led regulation of private actors to prevent climate and environmental harm.

The document advocates for a legally binding international treaty to end corporate impunity for environmental and human rights abuses, highlighting the insufficiency of voluntary frameworks and the potential of the UN's Open-Ended Intergovernmental Working Group (OEIGWG) process to establish enforceable obligations, extraterritorial jurisdiction, and effective remedies for affected communities.

The authors argue that the UN climate process is outdated and allows powerful countries and polluting industries to block ambition. They propose four key reforms: implementing majority voting when consensus fails, enforcing strict conflict-of-interest rules to exclude fossil fuel lobbyists, establishing meaningful accountability and compliance mechanisms for state commitments, and guaranteeing human rights and transparency in negotiations.

The July 2025 ICJ Advisory Opinion affirms that states have a legal obligation to prevent significant environmental damage and provide financial support to developing countries, a duty embedded in customary international law. The brief argues that this ruling provides a legal foundation for reparative justice—including restitution and compensation—and reinforces the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC). It highlights that while the Baku to Belém (B2B) Roadmap aims for US$1.3 trillion annually by 2035, it currently lacks binding targets and transparency. The document urges that COP30 use the ruling to ensure developed countries lead in delivering at least US$300 billion per year by 2035, primarily through grants and concessional resources, to support ambitious Nationally Determined Contributions (NDCs) and the Global Goal on Adaptation.

The report examines the transition from 'localized' to 'locally led' anticipatory action within the IFRC Network. It identifies that while the network's global reach and National Societies are significant strengths, progress is hindered by political factors, centralized decision-making, and donor risk aversion. The document argues that scaling locally led action requires navigating trade-offs between global standardization and local autonomy, advocating for more flexible, long-term funding and the integration of indigenous knowledge into technical forecasting models.

As of 31 August 2025, the GCF has a total pledged amount of USD 30 billion and has committed USD 18 billion to 314 projects across 133 countries. The portfolio is split between adaptation (58% in grant-equivalent terms) and mitigation (42%). The Fund's accredited entity network consists of 153 entities, 66% of which are direct access entities. The Readiness Programme portfolio has grown to USD 749.1 million. The current pipeline includes 142 concept notes and 66 funding proposals requesting a combined USD 12.3 billion in GCF financing, which exceeds the projected commitment authority for 2026–2027. The Secretariat is implementing pipeline optimization measures to retire inactive proposals and align with the 2024–2027 Strategic Plan.

This report by the Climate Policy Initiative analyzes the scale and diversity of the forest-climate nexus across 91 tropical countries. It quantifies forest extent, carbon stocks, and deforestation rates to argue for differentiated, fit-for-purpose policy strategies rather than a one-size-fits-all approach. The analysis concludes that there is no inherent trade-off between forest conservation and economic development.

The International Court of Justice (ICJ) issued a unanimous advisory opinion on 23 July 2025, establishing that states have customary international legal obligations to prevent significant environmental harm and cooperate to protect the environment. The author contends that these obligations apply to the restructuring of African sovereign debt, as debt distress often forces states to choose between creditor payments and financing essential services like renewable energy and health. The document suggests three avenues for relief: using the ruling to bolster negotiations on the social and environmental costs of debt, reminding stakeholders of international norms such as the UNCTAD Principles on Promoting Responsible Sovereign Borrowing and Lending, and enabling activists to hold states and financial institutions accountable through mechanisms like National Contact Points or multilateral development bank accountability systems.

The briefing paper advocates for a legally binding international instrument to end corporate impunity regarding environmental and human rights abuses. It highlights the insufficiency of voluntary frameworks and argues that the LBI can operationalize the right to a clean, healthy, and sustainable environment by establishing mandatory due diligence, extraterritorial jurisdiction, and strict liability for parent companies across global value chains.

The report examines how technology transfer for climate change adaptation is handled within the UNFCCC and WTO frameworks, noting that these policy domains have largely evolved in isolation. It defines adaptation technology as comprising hardware, software, and orgware, and highlights that while trade is recognized as a driver for transfer, it is rarely explicitly integrated into national adaptation plans (NAPs) or technology needs assessments (TNAs). The author identifies significant divergences between developed and developing countries over intellectual property rights (IPRs) and the role of government incentives. Analysis of Small Island Developing States' BAEF reports reveals that high import duties and reliance on foreign imports are key barriers. The report recommends involving trade experts in the NAP process and developing actionable guidance to operationalize technology transfer.