Principle 1. We are committed to acting ahead of disasters to reduce risks
• Acting ahead of disasters to reduce risks is fundamental to the design and implementation of GCF projects. We ensure that projects are designed to integrate risk information into decision-making and scale up funding for disaster risk reduction. The GCF-2 programming targets clearly prioritizes Climate Information and Early Warning Systems (CIEWS) investment for 50-60 countries and support for the Early Warning for All (EW4All) initiative. Our EW4All Global Support programme, Simplified Approval Process Fast Track EWS and scaling up approaches are among the initiatives committed to reducing disaster risk.
Principle 2. We are committed to coordinating finance across sectors and timelines
• GCF\’s coherence and complementarity approaches ensure finance coordination across sectors and decision timelines, focusing on climate change adaptation, development, and disaster risk. We complement other Climate Funds\’ activities and support developing countries\’ climate ambitions by scaling up pilot projects, optimizing investments, and aligning projects with developing country priorities. GCF currently works with the Adaptation Fund (AF), the Climate Investment Funds (CIF), and the Global Environment Facility (GEF) to maximise the impact of our activities.
Principle 4. We are committed to improving delivery systems for at-risk communities
• GCF has a special outcome area called “Livelihoods of People and Communities” to show its commitment to improve delivery systems for at-risk populations. This is evident in our investment criteria and policies, which ensure that the needs of the recipients inform our support to at-risk communities and marginalized populations, as well as the adoption of innovative financing and delivery mechanisms that empower affected populations to maximize impact on the ground. Our Simplified Approval Process expedites delivery and aims for even faster delivery via CIEWS Fast Track and Scaling-up modalities during GCF 2 programming.
• During the GCF-2 period, our aim is to have “40-70 approved proposals for adaptation projects, including for locally-led adaptation action” and “Significantly expand deployment of the enhanced direct access (EDA) modality and other devolved financing approaches to enable more rapid access to finance for locally-led adaptation action, engaging affected communities, civil society and indigenous peoples in delivering to meet the needs of last mile beneficiaries.”
Principle 5. We are committed to community leadership and localising decision-making
• We advocate for a transformation in government financing policies to include local leaders and community-driven goals. Through our Enhanced Direct Access modality, we ensure more devolution of decision-making, with financing and management choices made at the local level through a variety of financial vehicles, such as grants, highly concessional loans, equity, and guarantees.
• During the GCF-2 period, we aim to “Pursue collaborative stakeholder engagement, such as ideation challenges and dedicated fora, with our Indigenous Peoples Advisory Group (IPAG) and stakeholders – including local communities, women, youth, civil society and organisations for persons with disabilities – to scope where there is potential for inclusive innovation based on traditional, local and indigenous knowledge and practices, social and digital enterprises and also to identify opportunities to source and aggregate pipeline of locally-led solutions.”
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