Karandaaz Secures Green Climate Fund Accreditation

Karandaaz Pakistan has secured accreditation from the Green Climate Fund, allowing it to directly access and channel international climate finance into projects supporting private investment, climate-resilient businesses and Pakistan’s national climate goals.

Karandaaz Pakistan has secured accreditation from the Green Climate Fund (GCF), giving the organisation direct access to international climate finance for projects supporting sustainable investment and climate-resilient development across Pakistan.

The accreditation was approved during the GCF Board’s 46th meeting, held in Songdo, Republic of Korea, and places Karandaaz among the fund’s global network of Direct Access Entities. The status will allow the Pakistani organisation to access, blend and channel international funding into initiatives aligned with the country’s Nationally Determined Contributions, National Adaptation Plan and Green Taxonomy.

As reported by Business Recorder, the accreditation is expected to strengthen Karandaaz’s ability to mobilise private capital, reduce investment risks and support businesses operating in sectors exposed to climate change. Direct access also enables climate financing decisions to be shaped around national priorities, local market conditions and the needs of Pakistani enterprises.

A separate report by The News International highlighted the significance of the approval, noting that it would help connect local climate initiatives with the GCF’s international financing network.

Achala Abeysinghe, Director of the GCF’s Department of Investment Services, said Karandaaz brings valuable knowledge of Pakistan’s financial markets and could help expand climate finance for businesses and financial institutions working toward low-emission and climate-resilient development.

Karandaaz Chief Executive Officer Waqas ul Hasan said: “Direct Access accreditation enables Karandaaz to structure scalable and viable climate interventions, bridge critical liquidity bottlenecks for enterprise development, and catalyse private sector capital toward Pakistan’s national climate agenda.”

Over the past decade, Karandaaz has used growth equity, debt and blended finance facilities to address funding gaps for climate-smart initiatives. Its work has supported micro, small and medium-sized enterprises (MSMEs) in adopting resource-efficient technologies, expanding clean energy solutions and improving resilience to climate-related risks.

The organisation has also pursued financing models and market-level risk-sharing mechanisms for underserved sectors. These efforts aim to connect access to finance with climate action, while supporting green employment, vulnerable communities and sustainable enterprise growth.

Pakistan faces substantial financing requirements to meet its climate commitments and strengthen economic resilience. Karandaaz’s accreditation creates an additional institutional route for developing and financing climate-focused programmes with international and domestic partners.

The approval does not represent an immediate funding allocation. Rather, it gives Karandaaz the ability to develop proposals and seek GCF resources for eligible initiatives, potentially helping attract private investment into Pakistan’s climate priorities.