Green Climate Fund is go

The 73-megawatt Lopburi solar power plant, Thailand, funded by the Asian Development Bank (ADB), an accredited institution of the Green Climate Fund The 73-megawatt Lopburi solar power plant, Thailand, funded by the Asian Development Bank (ADB), an accredited institution of the Green Climate Fund ADB
22 May
Japan’s delivery of its $1.5billion pledge makes the Green Climate Fund over 50 per cent funded, giving the green light for large-scale climate projects to commence

The Green Climate Fund (GCF) is now 58.5 per cent funded, with $5.5billion in the bank. 33 countries made enough pledges in December 2014 to suppass the GCF target of $10billion, of which 21 countries have so far paid their contributions either in part or in full.

The GCF announced last month that while many countries – including European countries such as Sweden, Germany, and the UK – had delivered their pledges already, the biggest pledges by Japan and the US (of $1.5billion and $3billion respectively) were still outstanding, and that the GCF wouldn’t become fully active until the 50 per cent threshold was passed.

Therefore, following Japan’s contribution of $1.5billion, the GCF can start funding those accredited institutions it has already chosen to support, including the United Nations Development Programme (UNDP), the Asian Development Bank (ADB), and the Secretariat of the Pacific Regional Environment Programme (SPREP). Japan’s announcement coincides with the 7th Pacific Islands Leaders Meeting, which will be held in Japan this week.

green-climate-fund May22-UPDATE

The activation of the GCF is significant news ahead of the 21st Conference of the Parties (COP 21) to the UN Framework Convention on Climate Change (UNFCCC) to be held in Paris in December 2015.

‘This achievement means the Fund has reached an important milestone and can now start making financial commitments to developing countries,’ says Ms. Héla Cheikhrouhou, Executive Director of the GCF. ‘The Green Climate Fund commends the Government of Japan for the timely conversion of its pledge to a contribution arrangement with the Fund at such a crucial point in the negotiations ahead of COP 21.’

Share this story...

Submit to FacebookSubmit to Google PlusSubmit to Twitter

Related items

Geographical Week

Get the best of Geographical delivered straight to your inbox every Friday.

Subscribe Today


Aberystwyth UniversityUniversity of GreenwichThe University of Winchester




Travel the Unknown


Like longer reads? Try our in-depth dossiers that provide a comprehensive view of each topic

  • The Air That We Breathe
    Cities the world over are struggling to improve air quality as scandals surrounding diesel car emissions come to light and the huge health costs of po...
    National Clean Air Day
    For National Clean Air Day, Geographical brings together stories about air pollution and the kind of solutions needed to tackle it ...
    Diabetes: The World at Risk
    Diabetes is often thought of as a ‘western’ problem, one linked to the developed world’s overindulgence in fatty foods and chronic lack of physi...
    The Nuclear Power Struggle
    The UK appears to be embracing nuclear, a huge U-turn on government policy from just two years ago. Yet this seems to be going against the grain globa...
    Hung out to dry
    Wetlands are vital storehouses of biodiversity and important bulwarks against the effects of climate change, while also providing livelihoods for mill...


NEVER MISS A STORY - follow Geographical

Want to stay up to date with breaking Geographical stories? Join the thousands following us on Twitter, Facebook and Instagram and stay informed about the world.