Green Climate Fund (GCF)
GCF is the world's largest multilateral fund set up by the United Nations Framework Convention on Climate Change (UNFCCC), and helps developing countries reduce their greenhouse gas emissions (mitigation) and enhances their ability to respond to climate change (adaptation).
In collaboration with GCF, SMBC contributes to expand sustainable finance with wider support for climate-related actions in developing countries, where providing financing is difficult to achieve for private financial institution alone, and innovative projects such as developments in hydrogen toward the realization of decarbonization and sustainable society.
Overview
Result areas
GCF seeks to have an impact within eight mitigation and adaptation result areas.
| Mitigation | Energy generation and access Transport Buildings, cities, industries, and appliances Forests and land use |
|---|---|
| Adaptation | Health, food, and water security Livelihoods of people and communities Infrastructure and built environment Ecosystems and ecosystem services |
GCF's criteria and indicators
Following investment criteria and its related indicators guide GCF stakeholders in the development, assessment and approval of projects.
- ・Impact potential: Potential of the project or programme to contribute to the achievement of GCF's objectives and results areas
- ・Paradigm shift potential: Degree to which GCF can achieve sustainable development impact beyond a one-off project or programme investment through replicability and scalability
- ・Sustainable development potential: Wider benefits and priorities
- ・Needs of the recipient: Vulnerability and financing needs of the beneficiary country and population
- ・Country ownership: Beneficiary country ownership of, and capacity to implement, a funded project or programme
- ・Efficiency and effectiveness: Economic and, if appropriate, financial soundness of the project or programme
Structure
In order to access GCF funding, SMBC submits Funding Proposal and Non-objection Letter from National Designated Authority (NDA) as an Accredited Entity (AE). Once GCF Board approves the Funding Proposal, GCF provides loans, equities, and guarantees for the project through the AE.
Disclosure
Guideline
SMBC implements GCF projects in accordance with following guidelines.
- ・SMBC Information Disclosure Policy for GCF Funding Projects/Programs
- ・SMBC Procurement Guideline for GCF Funding Projects/Programs
- ・SMBC Gender Policy for GCF Funding Projects/Programs
Contacts
Sumitomo Mitsui Banking Corporation
SMBC_GCF@dn.smbc.co.jp