Karandaaz Pakistan has secured accreditation from the Green Climate Fund (GCF), joining the fund’s global network of Direct Access Entities. The GCF Board approved the accreditation at its 46th meeting in Songdo, South Korea, enabling Karandaaz to directly access and channel international climate finance toward high-impact climate projects in Pakistan.

The move is expected to mobilize private-sector investment, de-risk climate-smart ventures, and support businesses and communities vulnerable to climate change. Climate finance initiatives financed through the partnership will align with Pakistan’s Nationally Determined Contributions (NDCs), National Adaptation Plan, and Green Taxonomy.

Achala Abeysinghe, Director of GCF’s Department of Investment Services, said Karandaaz’s strong understanding of local financial markets would help expand climate finance for businesses and financial institutions supporting Pakistan’s transition toward a low-emission and climate-resilient economy.

Karandaaz CEO Waqas ul Hasan described the accreditation as a major milestone for green financing in Pakistan, saying it would strengthen access to global climate funds, address financing bottlenecks for enterprise development, and encourage greater private-sector participation in climate action.

Over the past decade, Karandaaz has supported climate-smart investments through growth equity, debt, and blended finance facilities, helping MSMEs adopt resource-efficient technologies, scale clean energy solutions, and improve climate resilience. The new accreditation is expected to strengthen Pakistan’s capacity to develop and implement large-scale, bankable climate programs, create green jobs, and support sustainable economic growth.