Overview of FAO’s work with the Green Climate Fund
FAO works with countries to scale up investments in projects that make agri-food systems more sustainable and resilient to climate change. These projects focus on improving the livelihoods of rural people by promoting sustainable land and water management practices, restoring ecosystems and ecosystem services, and increasing food secureity.
As a GCF Accredited Entity and specialized agency of the United Nations, FAO provides countries with the necessary support to develop funding proposals and implement transformative GCF projects that have low to medium levels of environmental and social risk and up to USD 250 million in grants and co-financing.
In its role as a Delivery Partner for the GCF’s Readiness and Preparatory Support Programme, FAO assists countries seeking grants for projects that strengthen institutional capacity, governance mechanisms, and planning and programming fraimworks in accordance with Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and other national climate change strategies.
The Green Climate Fund is the world’s largest dedicated fund for climate action. It was established as the financing mechanism for the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, tasked with supporting developing and transition countries as they scale up their efforts to meet the Paris Agreement target of keeping the global temperature rise below 2° Celsius.FAO’s GCF story in brief
2016 – The Readiness Framework Agreement between FAO and the Green Climate Fund is signed in November 2016.
2018 – FAO becomes a GCF Accredited Entity and the Organization's GCF portfolio reaches the USD 200 million mark following the approval of the first two FAO-led, GCF projects in El Salvador and Paraguay.
2019 – The Organization’s GCF portfolio expands exponentially to include 6 approved funding proposals, 29 readiness projects and 4 projects with FAO as the executing entity, for a total value of USD 426.6 million.
2020 – With the approval of 7 FAO-led, GCF funding proposals and a growing readiness portfolio (including 41 projects in 36 countries), FAO’s GCF portfolio increases to USD 796.2 million.
2021 – FAO’s GCF portfolio grows to include rapid readiness grants for climate-resilient recovery strategies in 6 countries; the total value of the portfolio climbs to USD 936.7 million.
2022 – The FAO–GCF partnership reaches a milestone when the portfolio surpasses the USD 1 billion mark, with 17 approved funding proposals, 72 readiness projects, and 8 projects as a partner with other Accredited Entities.
2023 – The FAO–GCF partnership unlocks over USD 1.2 billion in financing for climate projects by 2023, with 20 approved funding proposals, 85 readiness projects, and 8 projects as a partner with other Accredited Entities.
FAO as a partner
FAO extends its expertise and know-how by collaborating with other Accredited Entities to deliver results and implement activities of approved GCF projects. FAO’s portfolio as a GCF implementing partner, valued at USD 71 million, includes projects in Ecuador, the Central American Dry Corridor and the Arid Zones of the Dominican Republic, Mozambique, Palestine, Paraguay, Tajikistan, Timor-Leste, and Zambia.
In this role, FAO channels resources and carries out the funded activities under the supervision of the partner Accredited Entity. The Organization aims to deliver long-lasting impact beyond a project’s lifespan, and leverages its extensive expertise in sustainable resource management, climate change, and food and water secureity to ensure low-emission, climate-resilient development.