Enhancing climate finance in the Pacific region
Climate Finance Unit (CFU) at the Pacific Community
Climate finance is critical for Pacific Small Islands Developing States (PSIDS) to be able to address climate change. Effective adaptation and climate-resilient development in PSIDS are predicated on proper access to financial, technological, and human resources. However, the global climate finance landscape is complex, including many funds, each with different objectives and requirements to access financing.
In this context, the Climate Finance Unit (CFU) within the Climate Change and Environmental Sustainability (CCES) programme supports the Pacific Community (SPC)’s member countries in the development, management and implementation of climate change projects with the Green Climate Fund (GCF), the Adaptation Fund (AF) and other funding mechanisms. CFU also supports SPC’s technical divisions in enhancing their familiarity with the modalities of the GCF and AF, and in formulating climate change project proposals.
Contact: [email protected]
Approved projects and programmes
Questions and answers
The GCF is the largest global climate fund designated to respond to climate change by investing in low-emission and climate-resilient development in developing countries. It finances projects and programmes to mitigate greenhouse gas emissions and help vulnerable societies adapt to the unavoidable impacts of climate change. The GCF was established within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) as an operating entity of the Financial Mechanism.
The AF finances concrete adaptation projects and programmes that help vulnerable communities in developing countries to reduce their vulnerability to the adverse effects of climate change. It was established under the Kyoto Protocol of the UNFCCC.
Both Funds now serve the Paris Agreement and target 14 eligible countries* in the Pacific region.
*Cook Islands, Federated States of Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu
Since 2016, SPC has been a delivery partner for GCF Readiness grants. Since 2019, SPC has been a regional direct access entity to GCF and is accredited to support:
- Readiness grants;
- Micro (up to USD 10 million) and Small (USD 10–50 million) sized projects and programmes;
- Project management and grant funding;
- Category C (low) and Category B (medium) environmental and social risks.
Thus, SPC can:
- Submit GCF Readiness applications and act as delivery partner for GCF Readiness grants;
- Develop and submit concept notes and funding proposals to the GCF;
- Access Technical Assistance (TA) from the GCF to guide concept note development;
- Access the Project Preparation Facility (PPF), to get financial support for project and programme preparation;
- Implement projects once approved by the GCF.
Since 2021, SPC has been a Regional Implementing Entity for AF projects and programmes. The organisation is accredited to support:
- Small (up to USD 1 million) and Regular (up to USD 10 million for single-country projects / up to USD 20 million for regional projects) size projects and programmes;
- Project management and grant funding.
Thus, SPC can:
- Develop and submit concept notes and funding proposals to the AF;
- Access Project Formulation Grants (PFG), to get financial support for project and programme preparation;
- Implement projects once approved by the AF.