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The GCF approved USD 3.7 billion for 76 projects across 79 developing countries, targeting a reduction of 1.3 billion metric tonnes of CO2 equivalent. Key operational developments include the launch of the Simplified Approval Process (SAP) Pilot Scheme, the adoption of an Indigenous Peoples Policy, and the establishment of an Environmental and Social Policy. The fund is also preparing for its first formal replenishment process and expanding its private sector engagement through dedicated pilot programmes for MSMEs and resource mobilization at scale.

The document outlines mandatory conditions for all GCF funding proposals, including the signing of a funded activity agreement (FAA) and legal due diligence. It also specifies individual conditions for projects in Vanuatu (FP184) and Pakistan (SAP024), and recommends that disbursements occur only after the GCF secures protection against litigation and expropriation in the host countries.

The report finds that most green economy plans lack meaningful participation from marginalised groups, fail to specifically target the poorest to reduce inequality, and do not sufficiently address the limits to growth or the urgency of the low-carbon transition.

The report finds that the majority of the world's coral reefs are threatened by human activities and climate change, with projections that nearly all reefs will be threatened by 2050 if current trends continue. While 27% of reefs are in marine protected areas, only 6% are in effectively managed areas. The document emphasizes that reducing local pressures like overfishing and pollution is critical to increasing reef resilience against warming seas and ocean acidification.

The document reports that over 60% of the world's coral reefs are currently threatened by local human activities, with projections suggesting this could rise to nearly 100% by 2050 if left unchecked. It identifies key local stressors as overfishing, destructive fishing, coastal development, and pollution, alongside global threats like coral bleaching and ocean acidification caused by greenhouse gas emissions. The text emphasizes that countries such as the Philippines, Indonesia, Kiribati, Vanuatu, Tanzania, and Haiti are very highly vulnerable to reef loss due to high dependence on reef services and low adaptive capacity.