Credit: UN Climate Change

Publication date: November 2024

Abstract

The report analyzes a selection of approved Green Climate Fund (GCF) adaptation projects to highlight the range of activities that the GCF supports for anticipating and responding to loss and damage associated with climate change impacts. Approved GCF adaptation projects were selected across the WIM ExCom workstreams, covering different geographical regions and climate change hazards associated with slow onset events and extreme weather events. A comprehensive risk management perspective was applied to identify the various actions funded by the GCF in the context of loss and damage.

The findings revealed that the primary actions funded were pre-emptive measures, such as risk assessment and risk reduction. Some projects covered contingent arrangements, with insurance and other risk transfer mechanisms typically covered by government co-financing. In addition, some projects included anticipatory actions such as forecast-based finance and establishing protocols and provisions for early action. Although none of the projects provide funding for ex-post actions in the immediate aftermath of a crisis or disaster, some allocated resources towards medium- to long-term rehabilitation and reconstruction.

Detailed case studies of selected approved GCF projects are included in an Annex. These case studies provide information on the climate hazards and vulnerabilities addressed, the objectives and interventions undertaken, relevant loss and damage considered, and financial instruments used.