Tuesday, 13 October 2015

Green Climate Fund: more support from EU states

Launched in 2011, the Green Climate Fund (GFC) was created four years ago during the COP in Durban (South Africa), with the aim of raising $100 billion per year from developed countries to help the developing world adapt to climate change by 2020. So far only has an annual budget of $700 million. The fund's executive director, Héla Cheikhrouhou has underlined that the GCF is in dire needs of funds and emphasizes that this could give the right signals before COP21 in Paris later this year. As host country of COP21, France has been particularly forthcoming with donations. Other EU countries make up the other 35 countries. Out of the existing projects (currently 37), there is roughly a fair balanced between climate adaptation and mitigation."