Africa and the Green Climate Fund: current challenges and future opportunities

Show simple item record Fonta, W.M. Ayuk, E.T. van Huysen, T. 2018-10-08T17:07:50Z 2018-10-08T17:07:50Z 2018
dc.identifier.other doi:10.1080/14693062.2018.1459447
dc.description.abstract Although the Green Climate Fund (GCF) is widely commendable in several ways, access to the Fund has been very challenging for many African countries. Using GCF published statistics, we identify possible challenges likely to be responsible for this. First, we present an assessment of the GCF’s Readiness Support Programme with respect to how the programme’s performance may have affected achievement of African countries’ readiness outcomes. Second, a critical evaluation of the status of African GCF portfolio (pipeline and approved projects) provides a means by which to assess how well Africa’s current portfolio aligns with GCF strategic impact areas, results areas and investment priorities. We then discuss GCF access modalities and the implications of relying on International Accredited Entities (IAEs) to indirectly access the Fund. The readiness support assessment indicates that the distribution of support requests and funding approvals is nearly equal across the regions of Africa, Asia Pacific and Latin America and the Caribbean. However, when the regions are considered individually, Africa demonstrates lower approvals with respect to requests and securing funding. Results from the GCF portfolio evaluation reveal that little or no attention has been devoted to GCF critical result areas such as forests and land use or transport, where great potentials for low-carbon development transitions exist. With respect to access modalities, the IAE financing mechanism currently provides access to the Fund for the majority of projects in both the global and African GCF portfolios. The implications of these findings are extensively discussed.Key policy insightsFor Africa, limited readiness support and a reliance on International Accredited Entities constrains capacity building, thereby reinforcing a lack of both readiness and direct access to the GCF.There are opportunities for Africa to diversify its GCF portfolios, adhere to international commitments, and address its adaptation and development needs by identifying and capitalizing on linkages between GCF funding priorities, mitigation, and adaptation.There are leverage points within existing climate finance and governance systems that could catalyse a shift in Africa’s engagement with the GCF and generate positive, cascading effects on institutional strengthening, direct access accreditation and securing funding. © 2018 Informa UK Limited, trading as Taylor & Francis Group en_US
dc.language.iso en en_US
dc.publisher Taylor and Francis Ltd. en_US
dc.subject Africa en_US
dc.subject climate finance en_US
dc.subject development en_US
dc.subject GCF en_US
dc.subject readiness en_US
dc.title Africa and the Green Climate Fund: current challenges and future opportunities en_US
dc.type Article en_US

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