Green Climate Fund (GCF)

The Green Climate Fund (GCF) is a new global fund created to support the efforts of developing countries to respond to the challenge of climate change. GCF helps developing countries limit or reduce their greenhouse gas (GHG) emissions and adapt to climate change. It seeks to promote a paradigm shift to low-emission and climate-resilient development, taking into account the needs of nations that are particularly vulnerable to climate change impacts.

It was set up by the 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010, as part of the Convention’s financial mechanism. It aims to deliver equal amounts of funding to mitigation and adaptation, while being guided by the Convention’s principles and provisions.

When the Paris Agreement was reached in 2015, the Green Climate Fund was given an important role in serving the agreement and supporting the goal of keeping climate change well below 2 degrees Celsius.

Responding to the climate challenge requires collective action from all countries, including by both public and private sectors. Among these concerted efforts, advanced economies have agreed to jointly mobilize significant financial resources. Coming from a variety of sources, these resources address the pressing mitigation and adaptation needs of developing countries.

GCF launched its initial resource mobilization in 2014, and rapidly gathered pledges worth USD 10.3 billion. These funds come mainly from developed countries, but also from some developing countries, regions, and one city (Paris).

GCF’s activities are aligned with the priorities of developing countries through the principle of country ownership, and the Fund has established a direct access modality so that national and sub-national organisations can receive funding directly, rather than only via international intermediaries.

The Fund pays particular attention to the needs of societies that are highly vulnerable to the effects of climate change, in particular Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States.

GCF aims to catalyze a flow of climate finance to invest in low-emission and climate-resilient development, driving a paradigm shift in the global response to climate change.

Our innovation is to use public investment to stimulate private finance, unlocking the power of climate-friendly investment for low emission, climate resilient development. To achieve maximum impact, GCF seeks to catalyse funds, multiplying the effect of its initial financing by opening markets to new investments.

The Fund’s investments can be in the form of grants, loans, equity or guarantees.

 

KEY FEATURES


GCF invests in adaptation and mitigation activities in developing countries, managing a project portfolio that is implemented by its partner organisations, known as Accredited Entities.

GCF’s approach is marked by several distinct features:

BALANCED PORTFOLIO. GCF’s investments are aimed at achieving maximum impact in the developing world, supporting paradigm shifts in both mitigation and adaptation. The Fund aims for a 50:50 balance between mitigation and adaptation investments over time. It also aims for a floor of 50 percent of the adaptation allocation for particularly vulnerable countries, including Least Developed Countries (LDCs), Small Island Developing States (SIDS), and African States.

UNLOCKING PRIVATE FINANCE. The Fund is unique in its ability to engage directly with both the public and private sectors in transformational climate-sensitive investments. GCF engages directly with the private sector through its Private Sector Facility (PSF). As part of its innovative framework, it has the capacity to bear significant climate-related risk, allowing it to leverage and crowd in additional financing. It offers a wide range of financial products including grants, concessional loans, subordinated debt, equity, and guarantees. This enables it to match project needs and adapt to specific investment contexts, including using its funding to overcome market barriers for private finance.

COUNTRY OWNERSHIP. GCF recognizes the need to ensure that developing country partners exercise ownership of climate change funding and integrate it within their own national action plans. Developing countries appoint a National Designated Authority (NDA) that acts as the interface between their government and GCF, and must approve all GCF project activities within the country. This country-driven approach ensures GCF’s activities operate in harmony with national priorities.

The aim of all GCF activities is to support developing countries limit or reduce their greenhouse gas emissions and adapt to climate change impacts.

To understand how you can work with the Fund, visit our 101 Guide.

 

DIVERSITY AND INCLUSION

GCF encourages gender equality and inclusivity. Equality of opportunity and inclusiveness is fundamental to the vision and values of the Fund. The Fund will, in a non-discriminatory manner, take proactive measures and informed decisions to further these goals.

GCF will not discriminate between candidates on the basis of sex, age, race, colour, nationality, ethnicity, creed, different abilities, sexual orientation, gender identity and/or expression, marital or civil partnership status, parental status, religion, belief or non-belief, social or economic class, health status (including HIV/AIDS) or any other criteria that cannot be shown to be properly justifiable.

Gender must be at the heart of climate action

Women have fewer opportunities to make decisions on how to deal with global warming – we must change this.

Gender often remains the untold story behind climate change. After the television snapshots of devastation wrought by climate-induced disasters, our thoughts often remain with the local people forced to deal with the wreckage.

The destructive forces of nature, warped by rising global temperatures, manifest in cyclones, floods and other extreme weather conditions, which can act as negative force multipliers in societies already riven by inequality. The onset of droughts, accompanied by heightened food and water insecurity, also have a disproportionate effect on those least able to deal with the resulting increased social strains.

While climate change is a global phenomenon, its impact is not spread across a level playing field. Its effects are felt locally, and poor people suffer the most. Among the world’s 1.3 billion poor people, the majority are women.

During the past few decades, considerable achievements have been made in narrowing the gender gap in many countries. Nevertheless, across the global spectrum, women tend to be marginalized from economic and political power, and have limited access to financial and material resources. This increases their vulnerability to climate change and limits their potential to adapt.

Studies show that after climate disasters, it is generally harder for poor women to recover their economic positions than poor men. Women’s mortality from climate-related disasters is also higher than that of men.

Women are also often less represented in the corridors of power; have fewer legal rights, including access to land; and occupy fewer leadership roles in the workplace. This means while they are more vulnerable to the effects of climate change, they also have fewer opportunities to make decisions on how to deal with it. We must change this. Women have the right to – and need to be – at the forefront of efforts to deal with climate change.

The shift to low-carbon development and climate change adaptation is a major transformative endeavour requiring the participation of all countries, communities and genders. While gender equality is often solely associated with female empowerment, it is also important to note that transformative change requires the participation of all members of society. Women, girls, men and boys all need to be part of the solution.

In a more positive sense, the climate agenda can also help advance gender equality. There are numerous examples where renewable energy investments also contribute to increased employment opportunities for women that foster female entrepreneurship.

SOLAR TECHNICIANS

An innovative climate action project supported by the Green Climate Fund (GCF) in East Africa provides a good example of how women can be at the forefront of moves to leapfrog fossil fuels to use solar energy. The $110 million KawiSafi project has dedicated funds to train women to become solar technicians, while also supporting women-led micro-finance groups to generate demand for solar energy in Rwanda and Kenya. From its inception, gender equity has been central to this project, implemented by US-based Acumen Fund Inc.

The majority of these countries’ populations, 70 percent in Rwanda and 80 percent in Kenya, are not connected to main power grids. Subsequently, many use oil or kerosene for domestic power generation. These fossil fuels are often expensive as they are imported, while noxious fumes pose a serious health risk – especially to women and girls, who generally spend more time performing household work. The move to solar can then reduce emissions and domestic budgets, while also improving women’s and girls’ health. This is a clear gender co-benefit of climate action.

In another GCF-funded project in Mongolia, over half of the loans provided in this $60 million private sector initiative, implemented by Mongolia’s XacBank, are going to women-led enterprises starting up renewable energy and energy efficiency businesses.

Gender equality is a core principle of all GCF operations, and is mainstreamed in all decision-making and projects supported by the Fund. To aid this process, GCF is releasing a manual, “Mainstreaming Gender in Green Climate Fund Projects”.

Devising ways to consider gender in climate action will not always be easy or obvious. Societies are made up of complex relationships, sometimes based on differing structures of kin, power and financial resources. But continuing efforts to place gender consideration at the center of climate finance are necessary.

Climate change is a challenge that affects us all. So all members of society must rally together to deal with it effectively and inclusively.

CAREERS

GCF values diversity and encourages applications from people of all backgrounds, regardless of age, race, gender, sexual orientation, citizenship, religion, disability, or similar other attributes. If you are motivated by our mandate and believe your profile could be of value to the Fund, consult the current opportunities below.

View Vacancies

Today, GCF has over 230 staff members at its headquarters. With close to a 50/50 balance between men and women, 63 nationalities represented, and many more languages spoken, the Fund is an institution that speaks and acts for all people on the planet.

GCF is headquartered in Songdo, Republic of Korea.

STRUCTURE

The GCF secretariat is composed of several divisions and offices that report to the Office of Executive Director and/or to the GCF Board.

SENIOR MANAGEMENT

The Secretariat’s senior management team lead the various divisions of the Secretariat, providing the management capabilities to execute the day-to-day operations of the Fund.

Javier Manzanares

JAVIER MANZANARES,DEPUTY EXECUTIVE DIRECTOR

Javier Manzanares is the Deputy Executive Director at GCF. On an interim basis Javier will be responsible for the operations of the Fund. He previously served as GCF’s Executive Director ad interim during the second half of 2016. Prior to that, he was Director and Representative of UNOPS in the MERCOSUR region, based in Argentina. He was formerly Division Manager of Investment and Development Banking at the Central American Bank for Economic Integration. Javier also worked as the Executive VP for two privately held banks of Grupo Fierro. His career in banking and finance began with Banco Santander/BSCH in the United States, Hong Kong and Japan. Javier holds a dual MBA from Northwestern University / Kellogg (USA), an EMBA from Hong Kong University of Sciences & Technology (China), and is currently a Ph.D. candidate at INHA University in the Republic of Korea.

Ayaan Adam

AYAAN ADAM, DIRECTOR

Ayaan is the Director of the Private Sector Facility. She brings to GCF over 20 years of investment and portfolio management experience with private sector financial institutions, private equity and venture capital across Africa, Asia, Latin America, Middle East and Eastern Europe. Prior to joining GCF, Ayaan served as an independent senior advisor to a number of leading sustainable investment institutions, including as a Board Member and Chair of the Board Sub-Committee of Credit and Risk of Oikocredit International. In addition to serving as Managing Director of Africa Funds at UK-based CDC Group Plc, she spent 17 years at the International Finance Corporation in various senior leadership roles in the headquarters and in the field. Ayaan holds an M.Sc. in Finance and Management from the MIT Sloan School of Management (1994), and Bachelor degrees in mathematics and economics from Clark University (1990).

Pa Ousman Jarju

PA OUSMAN JARJU, DIRECTOR

Pa Ousman Jarju is Director of GCF’s Country Programming Division. Formerly, he was the Gambian Minister of Environment, Climate Change and Natural Resources and Chair of the Least Developed Countries (LDC) Group to the United Nations Framework Convention on Climate Change (UNFCCC). Pa Ousman was Special Climate Change Envoy of the Gambia and has extensive diplomatic experience across the 47 LDCs, China, the United States and the European Union. He has gained wide-ranging managerial experience in the Gambia’s Department of Water Resources as its Director and then overseeing Minister. Pa Ousman holds advanced diplomas from the Institute of Commercial Management (UK) and the IHE Institute for Water Education (the Netherlands), as well as a Bachelor of Engineering in Chemical Engineering.

Gerard O'Donoghue

GERARD O’DONOGHUE,
CFO AND DIRECTOR SUPPORT SERVICES A.I.

Gerard O’Donoghue is the interim Chief Financial Officer (CFO) and Director of Support Services at GCF. He previously worked in senior roles at the Consultative Group for International Agricultural Research (CGIAR) for a period of 20 years, serving as Director of Finance and Corporate Services. At the International Water Management Institute in Sri Lanka, he was Deputy Director General for Operations, after having served as Senior Finance Officer at the World Bank in Washington, DC. He also was the CFO at the International Livestock Research Institute, working in both Kenya and Ethiopia. At Price Waterhouse in London, his work ranged from auditing to corporate finance. Gerard has a degree in Mathematical Physics from the National University of Ireland, and is a Fellow of the Institute of Chartered Accountants of England and Wales.

Oyun Sanjaasuren

OYUN SANJAASUREN,
DIRECTOR

Dr Oyun Sanjaasuren is the Director of External Affairs. A former Member of Parliament from Mongolia, Oyun has extensive experience in representing international organisations. She served as the first President of the United Nations Environment Assembly, the governing body of UN Environment. After leaving the Government of Mongolia in 2016, she was appointed Chair of the Global Water Partnership, an intergovernmental organization to advance water security by working with over 3,000 institutional partners in more than 180 countries. Oyun’s five consecutive terms in Mongolia’s Parliament included stints as Minister of Environment and Green Development (2012-2014) and Minister of Foreign Affairs (2007 – 2008). Holding a Ph.D. in Earth Sciences from the University of Cambridge, Oyun has also been a prominent advocate of civil and social rights.

German Velasquez

GERMAN VELASQUEZ,
DIRECTOR

Dr German Velasquez (Jerry) is the Director of GCF’s Mitigation and Adaptation Division. He has worked for various United Nations departments on environmental conventions and governance, as well as on disaster vulnerability and risk, since 1994. With the UN Office for Disaster Reduction (UNISDR) he supported the development of the Sendai Framework for Disaster Risk Reduction. Jerry previously led the largest association of cities promoting resilience – the UN Making Cities Resilient Campaign – with more than 3,600 members globally. With UN Environment (UNEP) and the Global Environment Facility (GEF) he helped countries to implement multilateral agreements, in particular the Rio Conventions. Jerry received a Master and Doctor of Engineering degree on Hydrology and Water Resources from Nagoya University (Japan).

Mitch Carpen

MITCH CARPEN,
HEAD OF RISK MANAGEMENT AND COMPLIANCE

Mitch Carpen is the head of Risk Management and Compliance, and has over 25 years of experience designing, leading and implementing a broad range of growth, realignment and startup initiatives in the finance, risk and portfolio management functions of global financial and governmental organisations. He worked with the State of New Jersey in the United States and McKinsey & Company as an Executive Director to start up an energy infrastructure bank. Before this he was an Assistant General Manager at Bank of Tokyo-Mitsubishi in Singapore, where he led the establishment of the risk function for the new regional headquarters. He also was a Managing Director at Societe Generale’s risk team in New York City. Mitch has a master’s degree in Mathematics of Finance from Columbia University in New York City and a master’s and bachelor’s degree in Economics and Information Science from Rutgers University in New Jersey.

Carolina Fuentes

CAROLINA FUENTES,
SECRETARY TO THE BOARD

Carolina Fuentes is the Secretary to the Board at GCF. She was formerly Deputy Director General for International Cooperation at the Ministry of Environment and Natural Resources in Mexico, where she was in charge of climate change, international cooperation, and engagement with economic and environmental organisations such as the OECD and CEC. She previously worked as Director for Climate Change in the same ministry where she represented Mexico in international climate change negotiations. Carolina holds a Master’s degree in Nature, Society, and Environmental Policy from the University of Oxford (UK).

Mark Jerome

MARK JEROME,
HEAD OF INTERNAL AUDIT

Mark is the Head of the Internal Audit Office. He was previously an audit partner at KPMG, where he focused on emerging economies and the development sector. He was also a member of KPMG’s international steering committee on the development sector from 2007 to 2016. Before joining GCF, he was based in Viet Nam and the Lao People’s Democratic Republic, and has had extensive experience in Cambodia, Thailand, Myanmar and Mongolia. He also served in the Ministry of Agriculture, Fisheries and Food of the United Kingdom, and was an auditor in KPMG London and Slovakia. Mark qualified as a chartered accountant in 1992 and is a Fellow member of the Institute of Chartered Accountants in England and Wales. Mark holds a Master of Arts degree in Modern History from the University of Oxford.

Douglas Leys

DOUGLAS LEYS,
GENERAL COUNSEL

Douglas Leys is the Green Climate Fund’s General Counsel. He has accumulated extensive experience in the public and private sectors, including several decades of service with the Solicitor-General’s Office in Jamaica. This culminated in his appointment as Jamaica’s Solicitor General, before moving to GCF. In addition, as General Counsel of the Caribbean Development Bank (CDB), Douglas negotiated several loans with international commercial banks and provided legal assistance to Dominica and Grenada on the restructuring of their international and regional debt obligations in 2005. He holds the rank of Queen’s Counsel, a position reserved for persons who have distinguished themselves at the bar in the Commonwealth.

Sohail Malik

SOHAIL MALIK,
HEAD OF PORTFOLIO MANAGEMENT

Sohail Malik is the Head of Portfolio Management at GCF. He has over thirty years of international development experience in progressively responsible portfolio management positions in public, private, international nongovernmental, bilateral and multilateral donor organisations. He previously worked for the Navajo Nation in the United States, developing and implementing its Water Use Master Plan in support of its water rights over the Colorado River. He was also the Resident Representative of IUCN in Pakistan. While working with Islamic Development Bank, USAID and Swiss Agency for Development Cooperation, he managed high value complex portfolios in the areas of sustainable livelihood, natural resource management, climate change, food security, disaster risk management, governance and gender. Sohail has a bachelor’s degree in Civil Engineering and a master’s degree in Structural Engineering from Arizona State University, U.S.A.

Kilaparti Ramakrishna

KILAPARTI RAMAKRISHNA,
HEAD OF STRATEGIC PLANNING

Kilaparti Ramakrishna (Rama) is the Head of Strategic Planning at GCF. He was previously in charge of the UN Economic and Social Commission for East and North-East Asia (UNESCAP-ENEA), where he also serviced the North-East Asian environmental cooperation (NEASPEC). Rama was a lead author of the Fifth Assessment Report (and several others) by the Intergovernmental Panel on Climate Change (IPCC). His experience includes five years with UN Environment, as well as with the Woods Hole Research Center, a leading scientific policy institute on climate change. In addition, Dr Ramakrishna taught students at various law schools, including Fletcher School of Law and Diplomacy, Harvard Law School, Boston University and College Law Schools, as well as at Brandeis and Yale. He is an elected life member of the US Council on Foreign Relations. Rama holds bachelor’s degrees in sciences and law, and master’s and Ph.D. degrees in international law.

 

 


Korea
International Public Sector
Permanent
Competitive
Under the authority and direct supervision of the Director of External Affairs, the incumbent will be responsible for the development and implementation of GCF’s communications strategy, including supervising media relations, public relations, and all communications products. S/he will also be responsible for the overall management of human and financial resources, planning and coordination of programs and plans of action in relation to the Communications Unit.
Details

Korea
International Public Sector
Contract
Competitive
The Associate will be responsible for supporting IEU’s communications and uptake strategy, in particular by supporting awareness, capacity building and communication needs of the Unit. The Associate will need to be proficient in two key things: on the language and communications side heshe will be proficient in writing and speaking and communicating with internal and external stakeholders as well as across different platforms. He/she will be a leader in state-of-the-art social media tools, communications techniques and strategic outreach.
Details

Korea
International Public Sector
Contract
Competitive
The Ethics Senior Advisor contributes to the good governance of the Fund and assists the organization in maintaining the highest ethical standards. S/he is the highest authority at the Secretariat on ethical matters.
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The Intern will provide operational and administrative support to the Risk Management Team in the Office of Risk Management and Compliance. S/he will have the opportunity to learn and gain experience by providing assistance in the implementation and maintenance of the Risk Management Framewor
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Korea
International Public Sector
Contract
Competitive
The Partnerships and Outreach Specialist will play a critical role in shaping the engagement strategies through which the Fund works with others to promote a unified global response to climate change. Through targeted outreach, advocacy and communication efforts
Details

Korea
International Public Sector
Contract
Competitive
The Associate Professional – Partnerships and Outreach will help shape the profile of the Fund with its key stakeholders. This will be done within the mandate given to the GCF by the Governing Instrument and through Board decisions and guidance.
Details

Company Statistics

Date Established

2010

Headquarters

South Korea.