EXECUTIVE SUMMARY
SRHR is almost entirely absent from climate finance. Despite strong and growing evidence linking climate change to maternal mortality, contraceptive disruption, gender-based violence, and adverse pregnancy outcomes, less than 2% of adaptation funding and 0.5% of multilateral climate funding reaches projects that protect or improve human health — and SRHR is a vanishingly small subset of even that. UNFPA does not hold Green Climate Fund accreditation and has no confirmed GCF-funded project. This document maps the climate finance landscape, identifies the specific entry points where SRHR can access climate funding, and provides the evidence base UNFPA staff need to make the case in meetings with climate-focused funders.
The core argument: climate finance is the largest pool of new development capital being deployed globally, with $137 billion from MDBs alone in 2024. SRHR's absence from this pool is not because the evidence is missing — it is because no major SRHR actor has systematically pursued it. UNFPA is uniquely positioned to change this.
THE CLIMATE FINANCE LANDSCAPE
Scale
| Source | Amount (2024) |
|---|---|
| All MDBs — climate finance | $137 billion (record; +10% YoY) |
| MDBs — private climate finance mobilised | $134 billion (+33% YoY) |
| Green Climate Fund — total portfolio | $19.3 billion (GCF resources); $78.7B with co-financing; 336 projects |
| ADB — climate finance (own resources) | $11.1 billion |
| Global blended finance — climate deals (2024) | $15.5 billion across 84 deals |
| East Asia & Pacific blended finance | $5 billion (+77% from 2023) |
| MDB pledge for LMICs by 2030 | $120 billion/year (COP29 commitment) |
| MDB adaptation finance pledge by 2030 | $42 billion/year |
The Health Gap in Climate Finance
- Only 2% of adaptation funding reaches projects protecting human health
- Only 0.5% of multilateral climate funding goes to health
- GCF HWFW (Health and Well-being, Food and Water Security) result area: 153 of 336 projects tagged, but only $32.5 million in direct health-sector investment
- GCF invested $5.2 million to help 15 countries develop Health National Adaptation Plans
- GCF's first dedicated single-country health project: $12.5 million grant to Cook Islands for climate-resilient health system
- Only 4% of climate-related development assistance prioritises gender equality as a principal objective
SRHR Specifically
- Zero GCF projects specifically tagged as SRHR or reproductive health
- SRHR allocations within global climate funds remain "almost entirely absent" (IPPF 2024 report)
- Language linking SRHR and climate action was reportedly stripped from key COP30 agreements despite advocacy
- Just over 2% of climate finance goes to gender equality overall
- Climate change could push 40 million more women into poverty by 2030 (UNFPA estimate)
EVIDENCE BASE: WHY CLIMATE FUNDERS SHOULD CARE ABOUT SRHR
Maternal Mortality and Climate
- Global MMR (2023): 197 per 100,000 live births (~260,000 deaths/year; progress stalled since 2016)
- MMR in conflict/fragile countries: 504 per 100,000 vs. 99 in stable countries
- 37 conflict/fragile countries account for 64% of global maternal deaths
- WHO South-East Asia Region achieved 41% MMR reduction (2010–2020) — but this progress is threatened by climate disruption
- Peer-reviewed studies document associations between extreme heat and preterm birth, stillbirth, low birth weight, placental abruption, and gestational hypertension (Beltran et al.; Ha et al.; WHO/HRP 2024 scoping review)
Climate Disasters and SRHR Access
- Post-Typhoon Haiyan (Philippines, 2013): 500,000+ women lost maternal health access
- Post-Cyclone Pam (Vanuatu, 2015): contraceptive stockouts reached 100% in some provinces within 2 weeks
- Bangladesh floods: documented contraceptive stockouts and delayed antenatal care
- GBV rates consistently increase during and after climate disasters (Thurston et al. 2021 systematic review)
The WHO/HRP Research Agenda (2025)
WHO issued a formal call for research at the climate-SRHR intersection, identifying ten priority questions across four outcome areas: maternal health, GBV, contraception access, and abortion care. The WHO/HRP and UNFPA co-authored scoping review (BMJ Public Health, August 2024) confirmed: extreme temperatures, cyclones, floods, and droughts are associated with reduced birth weight, preterm births, stillbirths, pregnancy complications, and maternal deaths.
NDC Integration
UNFPA's "Taking Stock" global review (with Queen Mary University of London) found that only 34% of countries have integrated SRHR into climate change policies. Five regional companion reports (Asia Pacific, Arab States, East & Southern Africa, Latin America, West & Central Africa) provide country-level data for NDC-focused conversations.
CLIMATE FINANCE ENTRY POINTS FOR UNFPA
Entry Point 1: Green Climate Fund Accreditation
Current status: UNFPA is NOT a GCF Accredited Entity. By contrast, UNDP, UNEP, and WHO are established GCF partners. WHO was specifically approved as a GCF Readiness Delivery Partner.
Pathway A — Direct accreditation: Five-step process under the revised Accreditation Framework (RAF, effective October 2025). Requires fiduciary standards, environmental/social safeguards, and gender policy compliance. GCF aims for 9-month concept-to-approval.
Pathway B — Partner under existing AE: UNFPA could execute projects as a delivery partner under UNDP, WHO, or a regional development bank already accredited. This is faster but gives UNFPA less direct control and recognition.
Pathway C — GCF Readiness grants: Countries and health organisations can access GCF Readiness grants (USD 1–3 million) to develop Health National Adaptation Plans (HNAPs) and build project pipelines. UNFPA could support country offices to access these.
Recommendation for partnership conversations: UNFPA should pursue GCF accreditation as a medium-term strategic objective. In the near term, partnering with WHO (now a GCF Readiness Delivery Partner) on climate-SRHR projects under GCF frameworks is the fastest path.
Entry Point 2: ADB Climate and Health Initiative
ADB launched its Climate and Health Initiative (CHI) at COP28 with dedicated Technical Assistance:
- Subproject 1 ($3M): Low-carbon and resilient health systems in urban areas
- Subproject 2 ($2M): Climate resilience of health systems in Philippines, Thailand, Vietnam
No formal ADB-UNFPA SRHR partnership exists. This is a gap. ADB's CHI explicitly includes "extreme heat/flooding impacts on maternal and reproductive health" in its thematic priorities. A formal MOU between ADB and UNFPA on climate-SRHR would unlock access to ADB's $11.1 billion annual climate finance.
Entry Point 3: COP Process and Belem Health Action Plan
- COP30 launched the Belem Health Action Plan (BHAP) with $300 million from 35 philanthropic organisations
- 80 endorsements; explicitly addresses continuity of SRHR and GBV prevention during climate emergencies
- Climate and Health Funders Coalition: PAA, Bloomberg, Gates, Rockefeller, Wellcome — committed the $300 million
- Lima Work Programme on Gender extended 10 years at COP29; Gender Action Plan roadmap for COP30
Partnership conversation angle: The BHAP is the first global initiative targeting climate-related health threats with dedicated philanthropic capital. UNFPA should position itself as the SRHR delivery partner of choice for BHAP implementation.
Entry Point 4: Singapore's FAST-P and MAS Green Finance
MAS's FAST-P platform targets $5 billion for Asia climate transition. While currently focused on energy and industrial transition, the architecture (VCC structures, DFI co-investment, concessional capital) is replicable for health/SRHR.
The MAS taxonomy gap: The Singapore-Asia Taxonomy only operationalises climate change mitigation. Climate adaptation, social resilience, and health are flagged as future development. Advocating for MAS to include health/SRHR adaptation in the taxonomy's next phase could unlock labelled sustainable finance instruments for UNFPA-linked investments.
Entry Point 5: National Adaptation Plans (NAPs)
GCF has invested $5.2 million to support 15 countries in developing Health National Adaptation Plans. UNFPA country offices could embed SRHR components into HNAPs, creating a pipeline for larger GCF project proposals.
GENDER LENS INVESTING: A BRIDGE TO SRHR CLIMATE FINANCE
Market Overview
- Global GLI assets: $67.5–122 billion (2024–2025)
- Asia is the second-largest GLI region: $1.4 billion across 47 investment vehicles
- Gender lens fixed income: $58 billion (gender bond issuances up 8x between 2021–2025)
- Gender-diverse funds show 20% higher net IRR in emerging markets
- Closing gender gaps could add $4.5 trillion to Asia-Pacific annual GDP
Key Players for UNFPA Conversations
- Sweef Capital (Singapore): Pure-play gender lens investor; ~$45M debut fund; proprietary Gender ROI framework; backed by AIIB, PayPal
- 2X Global (formerly 2X Challenge): Framework for gender-smart investing; ADB and DFC are members
- AVPN Climate x Health Lighthouse Fund: $5 million (Bayer Foundation); grants up to $200K for climate-health solutions
- Prudence Foundation/AVPN: Published "Unlocking Capital for Climate x Health" investment landscape toolkit (2025)
Connecting Gender Lens to Climate
The intersection of gender lens investing and climate finance is growing but nascent. UNFPA's unique contribution: providing the evidence that SRHR outcomes are both gender outcomes and climate resilience outcomes. A gender lens investment in maternal health supply chain resilience, for example, meets both GLI criteria and climate adaptation criteria.
THE UNFPA STRATEGIC PLAN 2026–2029 AND CLIMATE
UNFPA adopted its new Strategic Plan 2026–2029 in July 2025. Climate-relevant features:
- Climate change framed as a core "megatrend" driving the polycrisis
- New fourth outcome on population dynamics and demographic change, intersecting with climate
- Commits to integrate climate-SRHR into NDCs, NAPs, and national DRR plans
- Commits to address heat stress and environmental shocks on maternal/newborn health
- Projects GBV from intimate partner violence could nearly triple to 140 million by 2060 under worst-case climate scenario (sub-Saharan Africa)
- Annual financing requirement: $26 billion across all four outcomes
MOPAN assessment (2025): Flagged that UNFPA lacks a dedicated, standalone climate change strategy with clear objectives, indicators, and targets. This is a credibility issue in climate finance conversations — funders expect a clear climate results framework.
IMPLICATIONS FOR PARTNERSHIP CONVERSATIONS
The Pitch
"SRHR is the biggest blind spot in climate finance. The evidence linking climate change to maternal mortality, contraceptive disruption, and gender-based violence is clear and growing. Yet less than 2% of adaptation funding reaches health, and SRHR receives essentially zero from climate mechanisms. UNFPA has the mandate, the community-level delivery infrastructure, and the evidence base to change this — but we need partners who understand that climate resilience cannot be built without protecting women's health."
Three Specific Asks for Climate Funders
For GCF/Adaptation Fund: Support UNFPA's pathway to GCF accreditation; in the interim, co-develop SRHR-integrated climate adaptation projects through existing accredited entities (WHO, UNDP, ADB)
For Singapore DFIs/family offices: Structure a VCC-based climate-SRHR resilience vehicle using MAS's 2x blended finance recognition; anchor with Temasek Trust/PAA; co-invest with ADB CHI
For philanthropic foundations: Fund SRHR integration into Health National Adaptation Plans in 5–10 priority Asian countries; this creates the GCF project pipeline that enables larger-scale climate finance access
SOURCES
- Green Climate Fund: Annual Progress Report 2024; B.43 Board approvals (October 2025)
- GCF: "Bridging the Climate-Health Gap" (2025); IEU HWFW Evaluation (January 2025)
- ADB: Climate Finance 2024 Infographic; Climate and Health Initiative TA Cluster documentation
- MDB Joint Report on Climate Finance 2024
- Convergence: State of Climate Blended Finance 2025
- WHO: Climate Change & SRHR research call (2025); WHO/HRP scoping review (BMJ Public Health, 2024)
- UNFPA: "Taking Stock" Global Review and five regional reports (2024)
- UNFPA Strategic Plan 2026–2029 (DP/FPA/2025/9)
- MOPAN: UNFPA Assessment 2025
- IPPF: SRHR and Climate Report (2024)
- Wilson Center: "Pioneering Solutions: Climate Finance, Gender Equity, and SRHR"
- COP30: Belem Health Action Plan; Climate and Health Funders Coalition commitments
- Parallelle Finance: Gender Lens Investing Universe (2025)
- AVPN/Prudence Foundation: "Unlocking Capital for Climate x Health" (2025)
Evidence quality rating: Strong on climate finance figures (GCF, ADB, MDB official data). Strong on the SRHR gap in climate finance (multiple independent sources confirm). Moderate on causal pathways (epidemiological evidence is moderate; attribution is methodologically difficult). Strong on institutional entry points (GCF accreditation pathways, ADB CHI, BHAP are documented). Weak on proven SRHR-climate finance deal flow (no major precedent exists — this is genuinely frontier territory).