Top Posts
UN climate change director calls for urgent action...
Environmental activist dismisses CoP meetings on climate change...
Trump administration says it won’t publish major climate...
Climate change: Stakeholders demand action on land use,...
Report: Climate change threatening global data centres
IMF warns climate change may deepen Nigeria’s debt...
Report: Death toll of European Heatwave 3 times...
Drille, others to perform at Abuja climate change...
Nigeria rules out nuclear weapons pursuit, says focus...
Japanese Island evacuates residents after relentless earthquake
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

Performance review shows UN’s Green Climate Fund struggling to manage risks

by Matthew Eloyi April 19, 2023
written by Matthew Eloyi April 19, 2023
524

The most recent performance review of the Green Climate Fund (GCF) has shown that the organization has an “underdeveloped” strategy for managing project risks since it overlooks important concerns, lacks consistency, and makes it difficult to identify who is accountable.

According to the independent report’s principal author, Archi Rastogi, there are obvious dangers involved in carrying out climate-related projects like building new infrastructure. Projects, however, may sometimes lead to maladaptation, when they actively worsen the consequences of climate change on communities rather than assisting them in coping with them.

He noted that by failing to recognize or effectively manage them, the organization became too cautious.

For a long time, developing countries have encouraged the fund to take greater chances and give awards to more innovative, smaller-scale projects that other funds won’t support.

Read Also: World set to pump out enough greenhouse gas in 10 years – UN report

The GCF board decided in 2016 to adopt a “high level of risk appetite” and to “take on risks that other funds/institutions are not able or are willing to take”.

The Green Climate Fund was established in 2010 as a component of the accord between wealthy and underdeveloped nations that served as the foundation for the Paris climate accord in 2015. So far, it has invested almost $20 billion in financing climate projects all across the world.

The fund has made some contentious investments, and former workers have voiced worries about the GCF’s project vetting, despite the newest study accusing it of being unduly cautious.

Story was adapted from Climate Home News

Green Climate FundUN
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
World set to pump out enough greenhouse gas in 10 years – UN report
next post
California resolution advocating Fossil Fuel Treaty passes first legislative hurdle

Related Posts

UN climate change director calls for urgent action...

July 18, 2025

Environmental activist dismisses CoP meetings on climate change...

July 18, 2025

Trump administration says it won’t publish major climate...

July 18, 2025

Report: Climate change threatening global data centres

July 14, 2025

Report: Death toll of European Heatwave 3 times...

July 9, 2025

Japanese Island evacuates residents after relentless earthquake

July 7, 2025

5.2 Magnitude Earthquake Shakes Costa Rica’s Pacific Coast

July 7, 2025

Trump shuts down U.S. website on climate change

July 7, 2025

Report: Absa’s Mauritius Unit to Nearly Quadruple Green...

June 30, 2025

Report: Heatwave in southern Europe pushes temperatures above...

June 30, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World