2024 Annual Performance Report for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

Green Climate Fund Projects

Technical Assistance (TA) Facility for the Global Subnational Climate Fund

Gender assessment for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

Gender action plan for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

2021 Annual Performance Report for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

2022 Annual Performance Report for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

2023 Annual Performance Report for FP151: Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility

Project Approved

Under Implementation

Project Completed

The goal of the Sub-national Climate Fund Global (SnCF Global or the “Fund”) is to catalyze long-term climate investment at the sub-national level for mitigation and adaptation solutions through a transformative financing model. The SnCF Global’s business model is designed to attract primarily private institutional investment and to deliver certified climate and Sustainable Development impacts and Nature-based Solutions at global scale (SDGs, NbS). The subnational level is key: 70% of known climate solutions are located within the boundaries of subnational authorities. Significant additional investment is needed in this sector to achieve the climate goals of the Paris Agreement. The SnCF Global presents a positive disruptive solution on how subnational climate projects should be structured, de-risked, and funded by both private and public investors, while monitored and benchmarked at the highest level of rigor and quality. 
	
	The Fund is designed to overcome project-level barriers and limitations in attracting private investment that leads to chronic underfunding of bankable mitigation and adaptation projects at the sub-national level, specifically at the deal size of USD 5 million to 75 million. Thousands of high merit sub-national projects are bypassed by commercial financing because investors prefer perceived safer and larger investments. The Fund firmly believes that GCF anchor funding and first-loss coverage will unlock both public investors and more importantly, private institutional investors. With GCF support, these investors have expressed willingness to co-invest. This is the first time an impact equity fund mobilizes public (20 %) and private sector (80%) funding at scale to de-risk sub-national middle scale infrastructure projects.

Global Subnational Climate Fund (SnCF Global) – Technical Assistance (TA) Facility