The GCF is the largest global fund dedicated to help fight climate change and to assist countries in moving towards low-emissions, climate-resilient pathways. It was established in 2010 by the COP as an operating entity of the Financial Mechanism. Later, the COP mandated it to invest – over time - 50% of its resources to adaptation in grant equivalent. At least half of its adaptation resources must be invested in the most climate vulnerable countries (SIDS, LDCs, and African States).

Through its adaptation funding window the GCF supports adaptation-related projects, programmes, policies and other activities in developing country Parties according to its strategic plan and in the following overall result areas:

• Health, food and water security;
• Livelihoods of people and communities;
• Infrastructure and built environment;
• Ecosystems and ecosystem services.

Support can be provided in the form of grants, concessional loans, equity, guarantees and other types of financial instruments. As of July 2021 the GCF has committed USD 8.9 billion of which 47% in grant equivalent have been committed to adaptation.

In order to provide capacity-building for countries to access its funding the GCF has established a readiness and preparatory support programme (readiness programme). Under this programme developing countries may access up to USD 3 million specifically for the formulation of their national adaptation plan (NAP) or for other adaptation planning processes. Support is provided with the objective of achieving one or more of the following outcomes: (i) Adaptation planning governance and institutional coordination strengthened; (ii) Evidence basis used to design adaptation solutions for maximum impact; (iii) Private sector engagement in adaptation catalysed; and (iv) Adaptation finance increased.

Countries have the option of accessing the USD 3 million cap through one proposal with one Delivery Partner, or through a set of multiple sequential proposals involving different Delivery Partners and their respective specific expertise in different components of the adaptation planning process. The latter providing the opportunity of learning by doing considering the iterative nature of adaptation planning. Adaptation planning proposals can be submitted on a rolling basis and the Delivery Partners do not need to be GCF Accredited Entities as long as they undergo a Financial Management Capacity Assessment.

As of June 2020 the GCF has approved 52 requests for NAP support for which it has approved USD 124.4 million and disbursed USD 34.1 million.

Beyond the readiness programme, countries, via respective accredited entities, can access the adaptation funding window by submitting project and programme concept notes, Project Preparation Facility requests and regular funding proposals in order to implement adaptation actions identified in their national adaptation plans and/or other adaptation planning processes. Projects can be micro (<USD 10mio), small (USD10-50mio), medium (USD 50 – 250 mio) or large (>USD 250mio) in size. In case the proposals do not exceed USD 10 Mio in funding requests from the GCF and their environmental and social risks and impacts are classified as minimal to none, they can be submitted via the Simplified Approval Process. In general a country is eligible to submit up to five priority projects/programmes over a four-year period from its overall country programme.

Further information on GCF readiness support for NAPs is available at National Adaptation Plans | Green Climate Fund and on GCF support for general adaptation activities at Adaptation | Green Climate Fund.

The LDCF was established by the COP in 2001. It is managed by the Global Environment Facility which is one of the operating entities of the Financial Mechanism of the Convention. Initially mandated to finance the preparation and implementation of National Adaptation Programs of Action (NAPAs) as well as other components of the LDC work programme, it has been tasked, in 2011, to also provide resources to assist least developed country Parties in preparing for the national adaptation plan process.

Programming under the LDCF is guided by the strategic objectives set out in the GEF Programming Strategy on Adaptation to Climate Change for the LDCF and SCCF which may differ in each GEF replenishment period and in accordance with guidance received by the UNFCCC COP. Priority funding areas include

• agriculture and food security;
• natural resource management;
• nature-based adaptation solutions;
• water resources;
• disaster risk management and prevention;
• coastal zone management;
• climate information services;
• infrastructure; and
• climate change induced health risks.

LDCF funds are provided in the form of grants. As of June 2020 a total of USD 75.2 million of LDCF resources have been provided for activities within the scope defined by the initial guidelines for the NAP process.  These funds have been distributed to individual projects or in the form of technical assistance for tailored one-on-one support that continues to be provided through the NAP Global Support Program (GSP) (see also under “capacity-building support”).

LDCF project proposals can be submitted on a rolling basis and funds are processed and approved through a simplified and streamlined project cycle[KvT1] .  All projects must be implemented with a GEF Agency. Countries can currently apply for up to USD 50 million cumulatively each by using existing GEF modalities, including medium-sized (USD 2 million ceiling) and full-sized projects as well as programmatic approaches. An access cap of USD 10 million per country towards the USD 50 million ceiling exist during the current GEF-7 period (2018 – 2022). NAPA and NAP activities may also be combined in one project.

Further information on LDCF support for adaptation and NAPs is available at Least Developed Countries Fund - LDCF | Global Environment Facility (thegef.org).