In October 2018, FUNBIO became Brazil’s first Green Climate Fund (GCF) accredited entities. The GCF is a global fund that helps developing countries tackle the challenges posed by global warming and adapt to climate change by limiting or reducing greenhouse gas emissions.
It was set up in 2010 by the 194 countries who are parties to the United Nations Framework Convention on Climate Change (UNFCCC). Since 2014, the fund has gathered pledges worth US$ 10 billion, mostly from developed nations, but from some developing countries too. To date, the fund has disbursed US$4.6 billion to 93 projects.
The GCF sets the project financing criteria for its accredited entities while delivering equal amounts of funding for mitigation and adaptation. The GCF has 75 accredited entities worldwide.