Safeguarding Climate Finance Procurement
This study looks at the robustness of the institutional procurement policies of the Green Climate Fund (GCF).
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In 2015, when countries signed the Paris Agreement on climate change, they committed to mobilising US$100 billion per year by 2020 to assist developing countries in adapting to and mitigating the impacts of climate change. This money will primarily be channelled through the Green Climate Fund (GCF) as the main financial mechanism under the UN Framework Convention on Climate Change.
The first part of this study considered the robustness of the institutional procurement policies of the GCF itself. This part assesses the public procurement standards related to GCF-funded projects. Understanding these standards is of critical importance as funding begins to flow out of the GCF. The study draws on past experiences of other similarly structured funds and current best practices in the field of open contracting to identify options for increasing the GCF’s and its delivery partners’ capacity to avoid corruption.