Kazakhstan, Mongolia, and Uzbekistan face growing climate risks, including rising temperatures, water stress, and increasing pressure on natural resources, while their energy systems remain heavily reliant on fossil fuels. Despite ambitious national climate targets, private sector investment in low-carbon and climate-resilient solutions remains limited due to high perceived risks, limited access to capital, and a lack of proven investment models in these markets.

The CC Asia Climate Fund (CC-ACF) aims to address these barriers by mobilising private capital to support climate-focused investments across the three countries. The fund will provide equity financing to small and medium-sized enterprises (SMEs) that deploy innovative climate technologies and solutions.

In addition to financing, the programme will support investee companies through technical assistance and knowledge sharing to strengthen their capacity to manage climate risks and improve performance. Designed as a first-mover initiative, the fund seeks to demonstrate the commercial viability of climate investments in these markets and to catalyse further private-sector participation.

Over its implementation period, the programme is expected to deliver significant emissions reductions, support over 130,000 direct beneficiaries, and accelerate low-emission, climate-resilient development pathways across Kazakhstan, Mongolia, and Uzbekistan.

The programme was developed under GCF’s Project-specific Assessment Approach (PSAA).

CC Asia Climate Fund (CC-ACF)

<p>Project information is sourced from Green Climate Fund. Please check terms of use for citation and licensing of third party data.</p>

Gender action plan for FP297: CC Asia Climate Fund (CC-ACF)

Project

Kazakhstan

Mongolia

Uzbekistan

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Justice is the ethical and political framework that addresses fairness, including issues of responsibility, rights, and structural inequity.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

Direct investments by the governments using public funds. This can be to support climate initiatives or integrate climate into other projects.

The processes through which enterprises can identify, prevent, mitigate and account for how they address their actual and potential adverse impacts. Due diligence is the idea that reasonable precautions should be taken to avoid causing harm to people, the environment, or society. It also involves identifying and mitigating risks before they occur.

Financial actors and resources that are primarily directed towards climate change mitigation, adaptation and compensation.

Dedicated pool of financial resources for climate-related projects.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

woman and genders outside of the gender binary

the fair distribution of risks and opportunities of climate change and the transition to a regenerative economy, cognisant in particular of disproportionate impacts on vulnerable communities and the working class

Procedural justice means ensuring that decision making is safe, transparent and inclusive, emphasizing the agency and influence of vulnerable groups and those most impacted.

Gender action plan for FP297: CC Asia Climate Fund (CC-ACF)

Target

Policy instrument

Impacted group

Just transition

Climate justice

Adaptation/resilience

Finance