KARACHI: Karandaaz Pakistan has secured accreditation from the Green Climate Fund (GCF), enabling it to directly access and channel international climate finance toward initiatives in Pakistan aimed at mobilising private investment, reducing investment risks and supporting climate-resilient enterprise growth.
The accreditation was approved by the GCF Board at its 46th Board Meeting (B.46) in Songdo, Republic of Korea, bringing Karandaaz into the fund’s global network of direct access entities.
According to Karandaaz, the accreditation will enable the organisation to access, blend and channel global climate finance into initiatives aligned with Pakistan’s Nationally Determined Contributions, National Adaptation Plan and Green Taxonomy.
As a national impact investment platform, Karandaaz said it would use the partnership to mobilise private capital, de-risk climate-smart investments and support sectors vulnerable to climate volatility.
Pakistan is among the world’s most climate-vulnerable nations and requires significant mobilisation of international and domestic resources to meet its climate targets and strengthen long-term economic resilience. Direct Access accreditation is intended to help ensure that climate financing decisions align with national priorities, local economic structures and market needs.
Achala Abeysinghe, Director of the GCF’s Department of Investment Services, said Karandaaz brought strong knowledge of local financial markets to the fund’s partnership network. She said the partnership could expand climate finance for businesses and financial institutions supporting Pakistan’s low-emission and climate-resilient development.
Abeysinghe said the GCF was committed to working with national institutions that could strengthen local markets, mobilise private investment and channel finance toward solutions responding to country priorities.
Over the past decade, Karandaaz has worked to address financing gaps for climate-smart interventions in Pakistan through growth equity, debt and blended finance facilities. The organisation said its work has enabled micro, small and medium-sized enterprises (MSMEs) to adopt resource-efficient technologies, expand clean energy solutions and build climate resilience.
Karandaaz has also pursued market-level de-risking and innovation in underserved sectors, linking access to finance with climate action. The organisation said its initiatives were aimed at protecting vulnerable communities, generating green jobs and supporting Pakistan’s national climate commitments.
Waqas ul Hasan, Chief Executive Officer of Karandaaz Pakistan, described the accreditation as a transformative development for the organisation and green financing in Pakistan. He said stronger institutional ties with global financing facilities were needed to support sustainable and climate-resilient growth.
Copyright Business Recorder, 2026
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