A new joint report released in November 2025 highlights the combined impact and scale of investments made by four major Multilateral Climate Funds. The Adaptation Fund, the Climate Investment Funds, the Global Environment Facility, and the Green Climate Fund have collaborated to present a unified view of their progress in climate mitigation and adaptation. This joint document marks a significant step toward harmonizing climate finance reporting and showing how these funds collectively support global climate action.
According to the report, the four institutions have together approved US$34 billion in total financing. This funding has attracted an additional US$176.2 billion in co-financing from partners around the world. These combined resources are being used to support 2,287 active projects in 145 countries across Africa, the Asia-Pacific region, Europe and Central Asia, and Latin America and the Caribbean. Many of these projects are focused on helping the most vulnerable regions, including 46 Least Developed Countries, 34 Small Island Developing States, and 37 countries facing fragile and conflict-affected situations.
The report shows that climate change mitigation remains a major focus area. The four funds aim to reduce or avoid a lifetime total of 9.3 billion tonnes of carbon dioxide equivalent emissions through their combined portfolio. So far, they have already achieved the reduction or avoidance of 710 million tonnes of these emissions. A significant part of this progress comes from investments in clean energy. The portfolio includes plans to install 65,900 megawatts of new low-emission energy capacity. Projects across the funds have also generated 76,537 gigawatt-hours of clean energy to date, against an expected total of 382,776 gigawatt-hours once all projects are completed. These figures indicate that while substantial progress has already been made, there is still a large pipeline of projects that will contribute further to global emission reduction efforts.
The report also places strong emphasis on climate change adaptation and resilience. The four funds estimate that their active projects could benefit around 1.785 billion people worldwide by helping communities prepare for climate risks. So far, about 371 million people have already benefited from completed or ongoing adaptation activities. These interventions aim to strengthen protection for vulnerable populations through measures such as improved climate-resilient infrastructure, early warning systems, and sustainable land and water management. The report notes that 38,117,532 square kilometres of land are receiving direct financing for adaptation and environmental protection. Although some overlap may occur where different programs support the same people or land area, the scale of investment clearly shows the wide reach of these initiatives.
The report also acknowledges ongoing efforts to strengthen coordination among the four climate funds. For the GEF, the contribution toward one of the common indicators comes mainly from its Least Developed Countries Fund and the Special Climate Change Fund. The funds note that some reporting areas, such as full alignment on certain indicators, are still in progress. Despite these challenges, the joint report reflects a strong level of cooperation and a shared commitment to improving transparency.
By presenting US$34 billion in approved finance and showing results that aim to protect billions of people and reduce billions of tonnes of emissions, the report reinforces the central role of the Multilateral Climate Funds in global climate finance delivery.
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