We worked with the GCF’s Independent Evaluation Unit on an in-depth evaluation of the Fund’s support for climate change adaptation
The GCF has the opportunity to be the global leader in adaptation investments in developing countries. But so far about a third of its capital has been targeted at adaptation efforts, and there is room for the GCF to further live up to its potential in the space.
The evaluation came at a strategic moment for the GCF, as the focus on adaptation increased due to the Climate Adaptation Summit and US Special Envoy John Kerry’ promise to significantly increase the flow of finance to adaption and resilience initiatives.
By learning from the climate finance landscape and illustrating how to make frontier innovation work for all, our thematic evaluation of the GCF’s portfolio demonstrates how transformational adaptation can be conceived, funded, implemented, measured and shared. We argue that the GCF can be strategically more relevant in the adaptation than in the mitigation space. We analysed the characteristics, opportunities and challenges of supporting adaptation projects. And we provide tangible recommendations on how the GCF can strengthen its support and further leverage its convening and catalytic power, particularly in engaging with private sector actors.
This study’s findings are delivered at the GCF’s twenty-eighth Board meeting in March 2021. Access the report here: https://ieu.greenclimate.fund/evaluation/adapt2021