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Green Climate Fund: How Attractive Is It to Donor Countries?

Joëlle de Sépibus

Destined to channel a significant part of the $100 billion pledge made by developed countries under the United Nations Framework Convention on Climate Change the Green Climate Fund (GCF) is now ready to solicit funding. It is a fact that its institutional design is quite distinct from the very successful trust funds operating under the aegis of the World Bank. Doubts hence remain as to whether it will live up to its ambition of becoming the main global fund in climate finance. To explore the extent of attractiveness of the GCF to potential donors this paper attempts to capture the reasons that are at the centre of the massive growth in “multi-bi-financing” and provides an overview of the most recent trends in official development assistance and climate finance. Based on this analysis, it is concluded that some of the GCF’s design elements should be improved, notably with the view to enhancing value for money, integrating actively civil society actors and leveraging effectively private finance.

Prof. Dr. Joëlle de Sépibus University of Bern, Law Faculty. For correspondence: <>. Research for this paper was funded by the Swiss National Science Foundation under a grant to the National Centre of Competence in Research on Trade Regulation, based at the World Trade Institute of the University of Bern, Switzerland. It has further benefited from the cooperation with the members of the project of the Swiss Network of International Studies (SNIS) on the proliferation of multilateral funds.


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