The United Kingdom, France, Germany, Japan and Sweden are the top contributors.
The shared urgency of addressing climate change took an historic step forward today with 27 countries pledging to replenish the Green Climate Fund (GCF) by USD 9.776 billion for the next four years. The resources will help developing countries reduce greenhouse gas emissions and adapt to the negative effects of global warming, such as rising sea levels, record temperatures, prolonged drought, and more frequent and severe weather events.
To achieve maximum impact, the Green Climate Fund’s public investment boosts the climate action capacities of developing countries and helps unlock private sector markets of low-emission, climate-resilient innovation. Every USD 1 billion invested in the Fund spurs nearly USD 3 billion in additional financing, including from recipient countries.
