10 billion mark within reach
Current status of Green Climate Fund pledges ahead of this week’s Pledging Conference in Berlin
Several major donors announced their contributions to the initial capitalization of the Green Climate Fund (GCF) in the lead up to the upcoming High-Level Pledging Conference 19-20 November in Berlin. The pledges received so far amount to USD 7.55 billion. The additional pledges by the UK and others expected in Berlin would put the UN’s target of raising USD 10 billion by the end of this year is within reach.
Policies for receiving contributions to the fund adopted at the October meeting of the GCF Board in Barbados removed the last roadblock for donors to come forward with their pledges to the fund. Ambitious pledges to the GCF reaching at least USD 10 billion by COP 20 in Lima will be key input to the negotiations under the UNFCCC, building momentum towards adopting an ambitious agreement in 2015.
You can find a graph detailing the current status of pledges to the GCF here.