Following the Paris Agreement on climate change, 2016 has become a pivotal year for a key climate finance institution: the Green Climate Fund (GCF). Having recently approved a range of new projects, the GCF is making progress. But there are still some fundamental things that need to happen for it to become more effective.
The GCF was created in 2010 to channel a portion of the billions of dollars that are needed to fight climate change and adapt to its impacts. Shifting public and private investment from ‘brown’ to ‘green’ is an essential part of fighting climate change. Rich countries have pledged to mobilise $100 billion a year by 2020 in funding for poor countries to adapt to climate change and reduce emissions.
Read the rest on the Climate 2020 report site of the United Nations Associations UK.