Karandaaz Pakistan has secured Green Climate Fund (GCF) accreditation, giving the Karachi-based national impact investment platform direct access to international climate finance for projects inside the country. The Karandaaz Pakistan GCF accreditation was approved by the GCF Board at its 46th Board Meeting (B.46) in Songdo, Republic of Korea, and places the organisation in the fund’s global network of direct access entities.
In a statement issued on Friday, Karandaaz said the new status will let it access, blend and channel global climate money into initiatives tied to Pakistan’s Nationally Determined Contributions (national climate pledges under the Paris process), the National Adaptation Plan and the country’s Green Taxonomy (a guide to what counts as green investment).
What the accreditation allows
Direct access means Karandaaz can approach the GCF without depending only on international intermediaries. The organisation said it will use the partnership to mobilise private capital, lower investment risk for climate-smart ventures and support sectors that face heavy climate volatility.
Pakistan is widely described as among the world’s most climate-vulnerable countries and needs large flows of foreign and local finance to meet climate targets and keep the economy more resilient. Direct Access accreditation is meant to keep those financing choices closer to national priorities, local market structures and business needs.
How Karandaaz plans to use the funds
As a national impact investment platform, Karandaaz said the GCF link will help it structure climate interventions, ease liquidity bottlenecks for enterprise growth and draw private capital toward Pakistan’s climate agenda. Over the past decade it has tried to close financing gaps for climate-smart work through growth equity, debt and blended finance facilities—tools that mix public or concessional money with private investment.
According to the organisation, that record has helped micro, small and medium-sized enterprises (MSMEs) take up resource-efficient technology, grow clean energy solutions and strengthen climate resilience. It has also focused on market-level risk reduction and innovation in underserved sectors, aiming to protect vulnerable communities, create green jobs and support national climate commitments.
Reactions from the GCF and Karandaaz
Achala Abeysinghe, director of the GCF’s Department of Investment Services, said Karandaaz brings “strong knowledge of local financial markets” into the fund’s partnership network. She added that the partnership can expand climate finance for businesses and financial institutions backing Pakistan’s low-emission, climate-resilient development, and that the GCF wants to work with national institutions that strengthen local markets and channel money to country priorities.
Waqas ul Hasan, chief executive officer of Karandaaz Pakistan, called the accreditation a transformative step for the organisation and for green financing in Pakistan. He said Pakistan needs deeper ties with global financing facilities for sustainable growth, and that Direct Access status helps Karandaaz design scalable climate interventions, ease liquidity constraints for enterprises and catalyse private capital toward the national climate agenda.
The Karandaaz Pakistan GCF accreditation does not by itself set a public rupee figure for new projects; it opens a formal route for the firm to design and seek GCF-backed programmes that match Pakistan’s climate plans.
Aasan alfaaz mein
Karandaaz Pakistan ko Green Climate Fund se seedha paisa lene ki ijazat mil gai hai. Yeh fund duniya bhar se climate change ke liye finance deta hai. Ab yeh organisation Pakistan mein private investment aur climate-smart business ko support kar sakti hai. Aam logon ke liye is ka matlab yeh ho sakta hai ke clean energy aur chhoti companies ke liye zyada financing ke raaste khulne ka imkan banega.
