The event consisted of two parts:
- The event opened with a seminar. The seminar aimed to provide an overview of the ongoing discussion related to "paradigm shift" as well as to provide an overview of the two challenges faced by the GCF: "Strengthening Direct Access Entities' (DAE) capacity" and "Private sector and private finance participation". Strategies to encourage and strengthen project formulation by DAEs wre also discussed.
- The seminar was followed by a panel discussion. The discussion covered to the partnerships that can be built between DAEs and other stakeholders, and how DAEs can strengthen their capacities to formulate projects and to increase private sector and private finance participation.

At the beginning of the seminar, Ms. Matsuda from OECC explained elements of "paradigm shift", that is an initiative to aim for international GHG emission reduction and comprehensive growth, a project scalability , and impact potential to contribute to capacity building and establishment of regulatory frameworks and policies in a target country. Mr. Park followed her explanation by giving his point of view that in making a GCF project, it’ll be necessary to make the project meet needs of a target country and to ensure local affiliated organizations’ ownerships. He also emphasized that DAE is able to play an important role and that the collaboration with the private sector is important from the aspect of project sustainability and ownership. Mr. Yazaki from KANEMATSU CORPORATION introduced their project for reducing CO2 in Indonesia and explained building a good partnerships with local relevant organizations would be important for a GCF project to be successful. At the last, Mr. Cooper-Halo from SPREP, a company that has two GCF project experiences, pointed out that in order to expand the involvement of private companies in GCF projects, it is an important issue to what extent DAE plays a role in making a connection between private companies and the local government.
In the panel discussion, the main topic was what kind of action and support DAE would require to formulate a GCF project, such as the necessity of capacity building for AE and financial support for the private sector. Mr. Park of GCF also showed their positive attitude towards projects that are made by private companies, referring to the successful project implemented by NABAD and Tata Cleantech Capital Limited in India.

One of the important issues for GCF is how to make a project that will create large-scale social transformation and paradigm shift. From this point of view, it has been important to strengthen the capacity of DAE and collaboration between DAE and private companies, as well as to improve the project environment including the institutions and regulations of a relevant country. This seminar provided a viewpoint on the importance of involvement of the private sector and encouragement of private investment in GCF projects in order to create further paradigm shifts in the future.