Green Climate Fund (GCF)

The Green Climate Fund (GCF) is a fund within the framework of the UNFCCC, which envisages the mechanism to redistribute the money from the developed to the developing world. This money is meant to assist the Developing Countries in adaptation and mitigation efforts to counter effects of Climate Change. It is governed by a Board of 24 members and supported by a Secretariat. The Fund also provides support for readiness and preparatory activities to enhance country ownership.

The Fund works under the windows of Adaptation and Mitigation with 50% resources dedicated under each.

Pakistan’s Current Portfolio of the GCF

Currently, Pakistan has a portfolio of USD 249 Million with the GCF. Following are the 7 projects that have been approved by the Fund for Pakistan.

1. Scaling up of Glacial Lake Outburst Flood (GLOF) Risk Reduction in Northern Pakistan (UNDP; USD 37.5 Million; GCF Grant USD 37 million, co-financing 0.5 Million )
2. Transforming the Indus Basin with Climate Resilient Agriculture and Climate Smart Water Management (FAO; USD 47 Million; GCF Grant USD35 million; Co Financing USD 12 million )
3. Green BRT Karachi (ADB; USD 583 Million; GCF Grant USD 11.8 Million)
4. Pakistan Distributed Solar Project (JS Bank; USD 54 million ; GCF grant USD 1 Million; USD 9 Million Guarantee)
5. Recharge Pakistan: Building Pakistan’s resilience to climate change through ecosystem based adaptation for integrated flood risk management (WWF; USD 77.8 Million; GCF Grant USD 66 Million)
6. Community Resilience Partnership Regional Program (ADB; GCF Financing USD 120 Million; Pakistan’s share is USD 20-25 Million )
7. Acumen Climate Action Pakistan Fund (Grant USD 3 Million; Equity USD 25Million)

Global Environment Facility (GEF)

The Global Environment Facility (GEF) is a family of funds dedicated to confronting biodiversity loss, climate change, pollution and strains on land and ocean health. Its grants, blended financing and policy supports helps developing countries address their biggest environmental priorities and adhere to international conventions. The fund has organized its work around five focal areas – biodiversity loss, chemicals and waste, climate change, international waters, and land degradation.

Pakistan’s Current Portfolio of the GEF

Pakistan has to date accessed USD 80.0 Million in funding from GEF. The GEF Funds are replenished every four years by System for Transparent Allocation of Resources (STAR).

Projects under Implementation:

1. Mainstreaming Climate Change Adaptation through Water Resource Management in Leather Industrial Zone Development (UNIDO; USD 3.3 Million)
2. Addressing the Drivers of Deforestation: Reducing the pressure on the High Conservation Value Forests of Chilghoza Pine of Pakistan (FAO; USD 4.5 Million)
3. Transforming the Leather Processing Industries towards Low Emissions and Climate Resilient Development Paths in Pakistan (UNIDO; USD 2Million)

Project Approved under GEF-7 Cycle (2018-2022)

1. Combating Climate Change through the Promotion and Application of Sustainable Biomass Energy Technologies in Pakistan (PASBET) (UNDP; USD 3.9 Million)
2. Accelerating Clean Technology Innovations for Integrated and Sustainable Waste Management Solutions for GHG Emission Reduction from Municipal and Industrial Solid Waste (UNIDO; USD 3 Million)
3. Combating land degradation through integrated and sustainable range and livestock management to promote resilient livelihoods in Northern Punjab (FAO; USD 2.5 Million)

Apart from the above approved projects, the GEF has allocated USD 17.7 Million for Pakistan under its country (STAR) allocation for 2022-2024.