The Green Climate Fund’s board has approved a plan to establish regional offices worldwide, marking a significant shift in how the world’s largest climate fund operates.
Headquartered in Songdo, South Korea, GCF has no physical presence outside of its main office, despite its global mandate to finance climate action in lower-income countries.
GCF was first proposed at the 2009 United Nations’ COP15 climate summit in Copenhagen, Denmark, and formally established a year later in Cancún, Mexico. Tasked with helping developing nations curb emissions and adapt to climate change, the fund has grown into a key player in global climate finance — though it has also faced persistent criticism for bureaucratic delays in disbursing funds. For 2025, it has an administrative budget of around $110.5 million and a programming target of $2.3 billion to $2.5 billion.
About the author
Ayenat Mersie
Ayenat Mersie is a Global Development Reporter for Devex. Previously, she worked as a freelance journalist for publications such as National Geographic and Foreign Policy and as an East Africa correspondent for Reuters.
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