Green Climate Fund (GCF)

This award recognises the world’s largest multilateral climate fund for delivering a record‑breaking year of climate finance in 2025. The GCF approved USD 3.26 billion for 50 projects across 133 developing countries, surpassing its previous annual record of USD 2.9 billion set in 2021. At its 43rd Board meeting in October, the Fund greenlit USD 1.332 billion for 22 new projects – the largest single‑meeting approval in its history – including USD 220 million for Amazonian restoration and USD 295 million for the Jordan Aqaba‑Amman desalination project, its largest single financing package to date. With a portfolio now standing at 336 projects and USD 19.3 billion in committed resources, the GCF has become the indispensable financial engine of the Paris Agreement.

Beyond the headline numbers, the Fund proved that efficiency reforms can accelerate climate action without sacrificing access. Under Executive Director Mafalda Duarte, the GCF cut median approval‑to‑disbursement time to 4.5 months and reduced partner accreditation from three years to nine months. The GCF‑2 replenishment secured a record USD 13.6 billion in pledges from 34 countries – 36 per cent above the previous cycle – placing the Fund on a strong footing to channel predictable finance towards both mitigation and adaptation. For building the multilateral infrastructure that turns climate pledges into measurable, on‑the‑ground decarbonisation, the Green Climate Fund receives this recognition.