GREENCLIMATE FUND

COP 23 – FINTECC Event

Jiwoo Choi

Green Climate FundNovember 2017

GREENCLIMATE FUND

Who are we?

2017

The Green Climate Fund

o A new global fund created to combat climate change by investing in low-emission and climate-resilient development

o Set up by United Nations Framework Convention on Climate Change (UNFCCC) to keep global average temperature increase well below 2° C

Private Sector Facility

USD 1.32 millionUSD 1.33 billion

Public 50%Private 50%

GCF Funding Amount By Sector

• The PSF is not an “add on”; it is mainstream component of the GCF.

• To fund and mobilize institutional investors and leverage GCF’s funds to encourage corporates to co-invest with us.

Why?

How?• De-risk investments;• Bundle small projects into portfolios;• Support capacity building;• Develop public-private infrastructure resilience partnerships;• Encourage innovation.

PSF Specialization

GCF’s PSF aims to engage the private sector to support climate change mitigation and adaptation projects in developing countries.

OBJECTIVE

• Debt and guarantees

• Equity

• Structure products

• Concessional loans

• Grants

Flexible Financing Instruments

• Clean energy• Energy efficiency• Climate-related innovation• Resilient infrastructure• Products and services for

vulnerable communities• Agriculture, forestry, food,

water security, and ecosystem preservation

Areas of Strategic Investment

GREENCLIMATE FUND

Where are we?

A growing portfolio

$2.65B for 54 projects (73 countries)

LATIN AMERICA & CARIBBEAN10 approved

(470M, 14 countries)

AFRICA21 approved

(786M, 17 countries)

ASIA-PACIFIC19 approved

(714M, 22 countries)

EASTERN EUROPE2 approved

(37M, 2 countries)

CROSS-REGION2 approved

(643M, 37 countries)

Status as of B.18 (Oct 2017)

Estimated climate impactPortfolio

Mitigation impacts

1 BtCO2eq

Adaptation impacts

159 M beneficiaries

Investments by results areasApproved projects

49%

0%

26%

4%

4%

18%

14%

2%

9%

1%

2%

5%

33%

24%

26%

16%

0% 10% 20% 30% 40% 50% 60% 70%

Energyaccess,powergeneration

Lowemissiontransport

Buildings,cities,industries,appliances

Forestryandlanduse

Vulnerablepeople,communities

Health,well-being,food,watersecurity

Infrastructure,builtenvironment

Ecosystem,ecosystemservices

Private Public

COUNTRIES RECEIVED: ü 70+ Developing

countries

GCF INVESTMENT: ü Up to USD 500M in projects/programmes

NUMBER OF CONCEPT NOTES RECEIVED: ü 350 CNs

EST. PROJECT COST: ü USD 43 billion

EST GCF REQUESTED FINANCING: ü USD 18 Billion

Request for proposalsMobilizing funds at scale

Results Snapshot

Published onü 25 May 2017.

Closed onü 30 August 2017.

GREENCLIMATE FUND

TechnologyKey to Inclusive Green Growth

• At B.18 Board took note of two approaches: 1) climate technology innovation systems; 2) targeted climate technology research, development &

demonstrationsupport (RD&D)

• Secretariat to develop ToR for an RfP to support climate technology incubators and accelerators to be considered at B.20

• Board encouraged NDAs/focal points to collaborate with readiness delivery partners/accredited entities to submit readiness requests, concept notes, funding proposals, PPF proposals supporting RD&D

Responding to the COP Guidance: Technology

GCF support of technology collaborative research and development

Off-Grid Solar Technology :Driving Energy Revolution

GCF Intervention 1KawiSafi Fund

Country GCF financing Accredited entity Financial instrument

Kenya and Rwanda USD 25 million Acumen Equity and Grant

• USD 20M in equity and USD 5M in grants for technical assistance

• Universal access to energy for people at the bottom of the pyramid

• Mobilization of private sector investors at scale for investment in SMEs in East Africa

• Conversion of a social impact fund into a Green Impact Fund

• Emissions reduction of 1.5 million tCO2

GCF Intervention 2Universal Green Energy Access Programme

Country GCF financing Accredited entity Financial instrument

Benin, Kenya, Namibia, Nigeria, Tanzania USD 80 million DB Equity and Grant

• USD 78.4M in equity and USD 1.6M in grant

• Enhancing local financial institutions’ knowledge of and appetite for the off-grid solar sector and utility scale renewable energy sector

• Crowd-in foreign and local private investors into the field of sustainable energy access in sub-Saharan Africa

• Emissions reduction of 50.6 million tCO2e

GREENCLIMATE FUND

GCF – EBRD Partnership

GCF-EBRD PartnershipPrivate Sector

No. Project Name Countries ThemeGCF Financing (million USD)

Total Financing (million USD)

FP025GCF-EBRD Sustainable

Energy Financing Facilities

Multiple countries

Cross-cutting 378 1 412

FP039GCF-EBRD Egypt

Renewable Energy Financing Framework

Egypt Mitigation 154.7 1 007

FP047GCF-EBRD Kazakhstan

Renewables Framework

Kazakhstan Mitigation 110 557

GCF-EBRD PartnershipPublic Sector

No. Project Name Countries ThemeGCF Financing (million USD)

Total Financing (million USD)

FP040Tajikistan: Scaling Up Hydropower Sector Climate Resilience

Tajikistan Cross-cutting 50 133

FP043The Saïss Water

Conservation ProjectMorocco Adaptation 37.6 243.1

Jiwoo ChoiHead of Financial Institutions and Structured Finance, Private Sector Facilityjwchoi@gcfund.org

Reach out

GREENCLIMATE FUND