CAF obtains reaccreditation with the Green Climate Fund

Being the GCF accreditation one of the most rigorous due diligence processes in the market to assess the capacities of fiduciary administration, environmental and social risk management and gender policies, this milestone reaffirms CAF’s confidence towards investors and partners, who are committed to the green transition agenda and economic recovery of the region.

The GCF Board stressed the need to maintain the predictability of financial pledges to the Fund, prioritize investments in adaptation and promote the accreditation of agencies in vulnerable regions. 

Regarding being consistent with the Paris Agreement, several Board members expressed the importance of implementing all alignment efforts under a holistic approach that addresses (a) holding the increase in the global average temperature, (b) Increasing the ability to adapt to the adverse impacts of climate change, and (c) Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development; all of this in the context of common but differentiated responsibilities. Such comprehensive approach to implement the Paris Agreement is fundamental to avoid the risk of keeping the debate limited to issues related with mitigation of greenhouse gases.