26 August 2020 - The Green Climate Fund (GCF) is the world’s largest dedicated fund helping developing countries reduce their greenhouse gas emissions and enhance their ability to respond to climate change. The recently concluded GCF Board meeting - held virtually for the first time - has approved the application by the United Nations Industrial Development Organization (UNIDO) to become an Accredited Entity, allowing the organization access to funding for projects.
The accreditation will allow UNIDO to scale up and increase impact when collaborating with developing countries in meeting their climate change goals, assisting vulnerable communities to increase their resilience to climate change, and advancing the achievement of the Sustainable Development Goals. The accreditation follows lengthy negotiations with the GCF led by UNIDO's Partnerships Coordination Division and a strong commitment to the vision of the Fund expressed by UNIDO's Director General, Li Yong, in his bilateral interactions with the Executive Director of the GCF, Yannick Glemarec.
In line with its mandate of inclusive and sustainable industrial development, UNIDO will, under the leadership of the Directorate for Environment and Energy, generate high-impact interventions to promote the clean energy transition, deep industry decarbonization, circular economy-based business practices, resilient urban and agricultural infrastructure, and digital and frontier technologies for climate action, among others. This will be achieved by establishing innovative and scalable partnerships modalities leveraging additional resources from international financial institutions and the private sector.
The GCF was set up by the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. It has a crucial role in serving the Paris Agreement, supporting the goal of keeping the average global temperature rise well below two degrees C.
For more information, please contact:
Senior Advisor, UNIDO
Chief and GEF Coordinator, UNIDO