GIFT

The problem: Greenhouse gas emissions must be tackled globally. There is an urgent need to channel global climate finance in a way that maximises its impact: Available funds are limited and a rapid reduction in emissions is essential. This requires a mechanism that targets the projects with the greatest impact. In response to this need, the Green Impact Funds for Transformation are designed to achieve both fairness and efficiency in climate finance. Wealthy countries have committed to mobilise $100 billion per year to support climate change mitigation and adaptation in low- and lower-middle-income countries (LLLMICs): How can these funds be best utilised?