ITTO accreditation application approved by Green Climate Fund Board

10 April 2024: The Green Climate Fund (GCF) Board, meeting in Kigali, Rwanda, at its 38th session, approved ITTO’s accreditation application on 5 March 2024, signifying that ITTO is now a GCF Accredited Entity (AE) and fully meets the GCF’s requirements, especially its specialized fiduciary standard for project management.

With its successful accreditation application, ITTO is now one of 128 GCF AEs, which are GCF’s partners in channelling resources to climate projects in developing countries.

The GCF seeks to have an impact in eight climate-change mitigation and adaptation result areas with the aim of ensuring that its investments drive a paradigm shift towards low emissions and climate resilience. Accredited entities may develop funding proposals for GCF consideration and oversee, supervise, manage and monitor their GCF-approved projects and programmes. The GCF’s project portfolio is valued at USD 10 billion.

“This accreditation is an excellent milestone and wonderful news for ITTO and its members because it confirms that ITTO is now a GCF-approved international organization enabled to execute GCF projects in line with the GCF’s Strategic Plan 2024–2027, ITTO’s governance structure and the ITTO Strategic Action Plan 2022–2026,” said ITTO Executive Director Sheam Satkuru. “This provides grounds for optimism for ITTO’s future in addressing members’ priorities that can be supported by the GCF. Moving forward, ITTO will work very closely in consultation with the GCF and member countries to identify priority areas of work for the GCF’s consideration, focusing on the achievement of results on the ground.”

ITTO projects aim to provide local, national and regional benefits while catalysing wider change, which is vital given the urgency of addressing climate change.

Watch the streaming video of ITTO’s accreditation by clicking agenda item 11 to start the video. ITTO’s accreditation starts at 00:52:40 at www.greenclimate.fund/boardroom/meeting/b38#videos.