Green Climate Fund approves record financing and new accreditation

The Green Climate Fund (GCF) has announced that newly approved climate financing surpassed 3 billion USD in 2026, marking a record year for the institution. During its 46th Board meeting, the Fund approved 21 climate projects and 1.97 billion USD in new financing, including additional funding for existing facilities.

As part of its expansion, the GCF Board accredited 16 new partners. Among these is Karandaaz Pakistan, which has joined the global network of Direct Access Entities. This accreditation allows Karandaaz to directly access and channel international climate finance toward high-impact projects in Pakistan, aiming to mobilize private-sector investment and support businesses vulnerable to climate change.

The GCF Board also reappointed Executive Director Mafalda Duarte for a second term to continue her ongoing institutional reform agenda.