Project profile — Green Climate Fund - Initial Resource Mobilization – Repayable Contribution

Download project profile:

Overview

Overview

Green Climate Fund - Initial Resource Mobilization – Repayable Contribution - Overview
CA-3-D002420002
$110,000,000
Green Climate Fund (41317)
2015-12-11 - 2020-03-31
Operational
Country / region • America, regional (30.00%)
• Africa, regional (30.00%)
• Europe, regional (10.00%)
• Asia, regional (30.00%)
Sector • General Environmental Protection
Environmental policy and administrative management (41010) (100.00%)
Policy marker • Gender equality (significant objective)
• Environmental sustainability (cross-cutting) (principal objective)
• Climate change mitigation (principal objective)
• Climate Change Adaptation (principal objective)
• Reproductive, Maternal, Newborn and Child Health (RMNCH) (not targeted)
Description and results

Description

This project represents Canada’s first contribution to the Green Climate Fund (GCF), which is a newly established institution that is the main financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). Canada has pledged $300 million to the GCF’s Initial Resource Mobilization period (2015-2018), comprising $190 million in grants and $110 million in a repayable contribution. Of the grant contribution, $22 million may be used to absorb the risk of financial losses from non-performing loans made from Canada’s repayable contribution (“Canada’s Cushion”). On a grant-equivalent basis, Canada is the tenth largest contributor to the GCF under its Initial Resource Mobilization period. By supporting the GCF, Canada helps to promote the paradigm shift towards low-emission and climate-resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change, in the context of sustainable development. Through the GCF, Canada supports increasing the impact of both adaptation and mitigation investments, while promoting environmental, social, economic and developmental co-benefits and taking a gender-sensitive approach. As a member of the 24-member GCF Board, Canada works toward helping countries that are the poorest and most vulnerable to the adverse effects of climate change - including least developed countries, small island developing states, and African states - as well as mobilizing private sector resources for climate friendly investments. Canada also works toward promoting the effective and efficient operationalization of the GCF, including the establishment of robust policies and procedures, consistent with international standards, in support of developing countries’ mitigation and adaptation efforts.

Expected results

The expected intermediate outcomes for this project include: (1) strengthened institutional and regulatory systems for low-emission and climate-responsive planning and development; (2) increased number of small, medium and large low-emission power suppliers; (3) lower energy intensity of buildings, cities, industries, and appliances; (4) increased use of low-carbon transport; (5) improved management of land or forest areas contributing to emissions reductions; (6) increased generation and use of climate information in decision-making; (7) strengthened adaptive capacity and reduced exposure to climate risks; and, (8) strengthened awareness of climate threats and risk-reduction processes.

Financials

Financials


Original budget $0
Planned Disbursement $0
Transactions
Country Percentages by Sector
Related information

Related information

Green Climate Fund - Initial Resource Mobilization – Repayable Contribution - Related information
Related activities
Green Climate Fund - Initial Resource Mobilization – Cushion Contribution
Green Climate Fund - Initial Resource Mobilization – Grant Contribution
Related links
Partner website — Green Climate Fund
Global Affairs Canada
MFM Global Issues & Dev.Branch
Aid grant excluding debt reorganisation
Multilateral
Core contributions to multilateral institutions
Legend

The coloured circles represent the number of markers in proximity. Simply click on the circle to zoom in for more information on projects.

2 to 9 markers 10 to 99 markers 100 to 999 markers 1,000 to 9,999 markers
Marker


Note: The Project Browser provides access to project data published by Global Affairs Canada in accordance with the International Aid Transparency Initiative (IATI) standard. This is not meant for official reporting, but to provide information on past and current international projects.

Date modified: