| PROJECT/ PROGRAM | MODALITY | DATE APPROVED | PROJECT SIZE | ACCREDITED ENTITY/IMPLEMENTING INSTITUTION | DESCRIPTION | STATUS |
| Adapting Philippine Agriculture to Climate Change (APA) | Fund Proposal | 16 March 2023 | Small GCF Financing (Grant): USD 26,273,510 | Food and Agriculture Organization of the United NationsDepartment of Agriculture | The Adapting Philippine Agriculture to Climate Change (APA) project aims to shift the country towards a climate-resilient agricultural system and increase climate resilience in rural areas. The project will improve institutional capacities by provision of localized climate information services and through the adoption of climate-resilient agriculture practices, particularly enterprises led by women and indigenous peoples. | Under Implementation |
| Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines | Simplified Approval Process | 14 November 2019 | Small USD 9,999,042 | Lank Bank of the Philippines | The project will strengthen the Philippines’ ability to adjust to climate impacts, and implement long-term climate risk reduction and adaptation measures. It will build on best practice in multi-hazard early warning systems and link with forecast-based action to maximize impacts on the ground. This includes climate-resilient development planning and investment. | Under Implementation |
| PROJECT/ PROGRAM | MODALITY | DATE APPROVED | PROJECT SIZE | ACCREDITED ENTITY/ IMPLEMENTING INSTITUTION | DESCRIPTION | STATUS |
Collaborative R&DB Programme for Promoting the Innovation of Climate Technopreneurship | Fund Proposal | 18 Jul 2024 | Large USD 221.2 million | Korea Development Bank | The Collaborative R&DB Programme for Promoting the Innovation of Climate Technopreneurship, led by Korea Development Bank, supports climate technologies across Southeast Asia. In the Philippines, the program focuses on renewable energy and low-emission transport by connecting local entrepreneurs with global technology providers. This joint venture approach strengthens local capacity, facilitates technology transfer, and attracts private investment to reduce carbon emissions and drive inclusive growth. | Approved |
| Project GAIA | Fund Proposal | 25 October 2023 | Large USD 1.5 billion | MUFG Bank, Ltd | Project GAIA will establish a blended finance platform that offers long-term loans for climate adaptation and mitigation investments in 19 of the most climate vulnerable countries in the world – making funding accessible through sources previously unattainable to participating countries. | Approved |
| Green Guarantee Company | Fund Proposal | 20 October 2022 | Large USD 363 million | MUFG Bank, Ltd | The Green Guarantee Company (GGC) is the first ever global institution dedicated to providing guarantees for climate bonds with significant climate adaptation and mitigation impacts. It will create an ecosystem around climate bonds for developing countries by connecting local issuers with international investors and creating working groups in the countries where it operates. | Under Implementation |
| Climate Investor Two | Fund Proposal | 20 July 2020 | Large USD 880 million | Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden | Climate Investor Two (CI2) is a fund that aims to support the private sector to develop and construct climate-resilient infrastructure projects in developing countries in the water, sanitation, and ocean sectors – areas which usually do not attract interest from the private sector. | Under Implementation |
| Global Fund for Coral Reefs Investment Window | Fund Proposal | 7 October 2021 | Large USD 500 million | Pegasus Capital Advisors | As GCF’s first at-scale private sector programme in the blue economy, the Global Fund for Coral Reefs Investment Window (implemented with Pegasus Capital Advisors LP) will create a private equity fund to encourage investments in the blue economy, protecting coral reefs. Targeting 17 countries in Africa, the Asia-Pacific, Latin America and the Caribbean it aims to address critical financing and private investment barriers centred around the blue economy. | Under Implementation |
| ASEAN Catalytic Green Finance Facility (ACGF): Green Recovery Program | Fund Proposal | 19 March 2021 | Large USD 3.7 billion | Asian Development Bank | Designed as Asia’s first regional ‘green recovery’ program, this initiative aims to kickstart countries’ low-emission investments to support economic recovery following COVID-19. By catalyzing increased climate finance from both the private and public sectors, the programme will support at least 20 high-impact, low-emission sub-projects in the region. | Under Implementation |
| Climate Investor One | Fund Proposal | 20 October 2018 | Large USD 821.5 million | Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden | Climate Investor One (CIO) is a blended finance facility. The first component of this program is a development fund, which provides loans in the early stage of a project life cycle. The second component, a construction equity fund, will meet up to 75 percent of total construction costs in tandem with the project sponsor. Compared with conventional project financing, CIO removes the need for complex multi-party financing structures, with the potential to thereby reduce the time and cost associated with delivering renewable energy projects. | Under Implementation |
| PROJECT/ PROGRAM | MODALITY | DATE APPROVED | PROJECT SIZE | ACCREDITED ENTITY/IMPLEMENTING INSTITUTION | DESCRIPTION | STATUS |
| Readiness Support to Strengthen the Philippines’ Capacity and Knowledge on Accessing the Green Climate Fund (RPSP 1) | Readiness and Preparatory Support Program | 9 September 2019 | USD 300,000 | Department of Finance (with the Global Green Growth Institute) | The primary objective of the Readiness Support to Strengthen the Philippines’ Capacity and Knowledge on Accessing the Green Climate Fund is to support the NDA in fully implementing its roles and responsibilities. | Under Implementation |
| Readiness Support to Strengthen Philippines’ Engagement and Direct Access with the GCF by GGGI (RPSP 2) | Readiness and Preparatory Support Program | USD 300,000 | Department of Finance (with the Global Green Growth Institute) | The primary objective of the RPSP 2 is to support and enhance the capacity of the DAEs to access the GCF. | Under Implementation | |
| Climate Resilient Recovery Readiness Support in the Philippines | Readiness and Preparatory Support Program | 29 June 2021 | USD 220,942 | Land Bank of the Philippines | This project support is aimed at supporting effects of the pandemic by developing three vital Project Concept Notes on Food Security, Employment and Green Jobs, and Green Recovery Projects. | Under Implementation |
| Strategic Frameworks support for the Philippines | Readiness and Preparatory Support Program | 31 December 2018 | USD 692,000 | International Finance Corporation (IFC) | This proposal supported the Philippine government in increasing the country’s access to and usage of green finance. Whilst there has been some investment in renewable energy and energy efficiency within the country, there needs to be clearer pathways to implement and grow green finance initiatives within the private sector for the Philippines to reach their Nationally Determined Contribution to the Paris Climate Agreement. | Complete |
| Capacity Building for GCF Integrated Results Management Framework (IRMF) | Readiness and Preparatory Support Program | December 2023 | Land Bank of the Philippines | GCF project staff currently lack the capacity to build a robust pipeline of project ideas that meet IRMF requirements. They require guidance in conducting baseline analyses, developing theories of change and logical frameworks, identifying indicators, establishing data collection methods, and managing monitoring, reporting, and evaluation. Strengthening these skills among Land Bank staff will improve the assessment of projects’ mitigation, adaptation, and overall potential, ensuring that future concept notes fully meet IRMF standards. | Under Implementation | |
| Agriculture Sector Readiness for enhanced climate finance and implementation of Koronivia Joint Work on Agriculture priorities in Southeast Asia | Readiness and Preparatory Support Program | Jun 2022 | USD 2,700,000 | Food and Agriculture Organization (FAO) | The project aims to boost the Philippines’ agricultural resilience by strengthening access to climate finance. Key activities include multi-stakeholder workshops for agro-climatic assessments, developing climate-smart investment plans, and preparing bankable GCF concept notes. Regional consultations will also share innovative financing models and best practices, ensuring sustainable climate adaptation and mitigation in the sector. | Under Implementation |
| PROJECT | DATE APPROVED | ACCREDITED ENTITY | DESCRIPTION |
| Accelerating adoption of climate-resilient agricultural production systems through integrative landscape approach to manage climatic risks (PILAR) | 21 August 2023 | Land Bank | The Philippines ranks fourth on the long-term Climate Risk Index (CRI, 2000–2019), recording the highest number of extreme climatic events with estimated losses of US$3.2 billion PPP—equivalent to half of the country’s GDP. Severe typhoons and droughts are expected to continue, underscoring the need for robust interventions. PILAR aims to enhance the resilience of the country’s agricultural landscapes by overcoming financial and technical barriers to scaling climate-resilient agriculture (CRA) and by identifying transformational livelihood pathways for approximately 3.5 million people. This initiative seeks to improve the integration of agricultural development with climate responsiveness and to transform LANDBANK’s investment capacity in CRA, with a focus on the Pampanga, Bicol, and Agusan river basins. |
| A Climate Resilient Leyte through Integrated River Basin Governance in Flood Risk Management | 9 July 2024 | Land Bank | The Province of Leyte faces significant vulnerability due to climate variability, with increased floods and typhoons disrupting ecosystems, undermining rural livelihoods, and affecting the local economy. Effective ecosystem management can mitigate these extreme events, particularly for vulnerable rural communities. This project aims to institutionalize integrated flood management by merging ecosystem and disaster risk management systems. This will enable the planning and development of nature-based flood and landslide management infrastructure as part of regional DRRM. Key components include: strengthening river basin governance for nature-based disaster resilience, promoting community-managed nature-based solutions, implementing an integrated flood forecasting and early warning system, and delivering gender-responsive capacity building in disaster risk reduction across eastern Leyte. |
