Green Climate Fund

The Green Climate Fund (GCF) is a fund established within the framework of the UNFCCC to assist developing countries in adaptation and mitigation practices to counter climate change. The GCF is based in the new Songdo district of Incheon, South Korea(সদর দপ্তর). It is governed by a Board of 24 members and initially supported by a Secretariat.

The objective of the Green Climate Fund is to “support projects, programmes, policies and other activities in developing country Parties using thematic funding windows”. It is intended that the Green Climate Fund be the centrepiece of efforts to raise Climate Finance under the UNFCCC, and raise $100 billion a year by 2020.

U.S. President Donald Trump in his announcement of U.S. withdrawal from the Paris Agreement on June 1, 2017, also criticized the Green Climate Fund, calling it a scheme to redistribute wealth from rich to poor countries.