News / 13 July 2015

Major funder of coal projects becomes implementing partner in Green Climate Fund

More than 20 NGOs co-signed a statement expressing their concern on the accreditation of Deutsche Bank as implementing partner of the Green Climate Fund. The signatories, including Both ENDS are disappointed about the lack of transparency of the accreditation.


The GCF was brought to life to support climate action in developing countries, with a particular focus on the poorest and most vulnerable. Deutsche Bank is one of the largest financiers of coal and the 2014 recipient of the "Black Planet Award" for environmentally destructive business policies. Accrediting controversial banks that heavily invest in fossil fuels and thus actually exacerbating climate change, is contrary to the main goal of the Fund. 


The NGOs urgently call on the GCF and its Board members to improve the accreditation procedure to prevent the accreditation of other carbon-financiers and to maintain GCF's credibility.


Read the CSO statement here.

Further information about the work Both ENDS does to make the Green Climate Fund more accessible and transparent for local actors, visit our long-read.

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