GCF set to approve significant investments in climate action at its 39th Board meeting

The Green Climate Fund (GCF) Board will convene for its 39th meeting (GCF B.39) on 15 to 18 July 2024 in Songdo, Incheon, Republic of Korea.

The GCF Board will consider 17 new climate project proposals, totaling approximately USD 1.0 billion in GCF funding, for approval. The funding proposals cover diverse initiatives that will address the adaptation and mitigation needs of developing countries from the Small Island Developing States in the Caribbean to Asia to the Horn of Africa. These projects span multiple sectors, including coastal resilience, sustainable agricultural systems, ecosystem restoration, and climate technologies.

During the four-day meeting, the Board will also look at accrediting six organisations, four of them Direct Access Entities, to become GCF project implementing partners. Among the other agenda items, there will be an update on the progress of GCF’s regional presence, partnerships and access strategy, financing of results-based payments for REDD+, and complementarity and coherence action plan. Reports will be presented, including activities of the Secretariat and independent units and the 13th report to the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC).

GCF B.39 will be attended by about 400 participants, which include observers from civil society and private sector organisations, National Designated Authorities (NDAs), Accredited Entities and other partners who assist in delivering climate finance to developing countries.