Increasing private sector engagement in adaptation: GCF Monitor ed. 5

Abstract

The Updated Strategic Plan of the GCF aims to maintain a balance between adaptation and mitigation financing and to increase the amount of money channelled through the Private Sector Facility. In response to several Board Members’ concerns at the 28th Board Meeting of the GCF (B.28), the Secretariat noted that experiences so far demonstrate that there are trade-offs, among others between aiming for more private sector- and more adaptation projects. So far, almost all of the GCF’s private sector projects are mitigation projects. This GCF Monitor assesses the broader options to engage the private sector in adaptation. It demonstrates that the GCF engages the private sector much more in adaptation than its current indicators demonstrate.