Berlin (agencies)
Mahmoud Mohieldin, coordinator of the United Nations Green Fund to combat climate change, announced yesterday that the Fund has obtained pledges worth $9.3 billion from 25 countries to help at-risk countries adapt to climate change.
As global temperatures rise, world leaders are looking to boost support for action to combat climate change amid growing criticism of the lack of urgent action to confront the risks.
The Green Climate Fund was established under the United Nations climate change negotiations to help direct the money poor countries need to achieve their goals of reducing carbon emissions, developing cleaner energy sources and adapting to a warming world.
The Fund is seeking contributions to finance projects in areas vulnerable to the consequences of climate change between 2024 and 2027, with the aim of exceeding the $10 billion it collected in its last three-year round.
About 75% of shareholders increased their pledges compared to the last replenishment round, and Germany, Britain, France and Japan are the largest supporters.
Muhyiddin said at a conference in Bonn, Germany, “The replenishment of resources does not end here. Countries can pledge at any time, but the sooner the better, of course.” In addition, the United States did not announce any new financial support for the largest climate fund in the world. Which cast a shadow over its pledges to provide support to countries most vulnerable to global warming. More than $3 billion has been disbursed and commitments of more than $12 billion have been made, according to the Fund, so far.
But his ambitions are much greater than that, as he wants to increase his capital, which currently amounts to $17 billion, to $50 billion by 2030.
The issue of burdening developed countries with the cost of adapting poor countries to the consequences of climate change and their transition to an economy less dependent on fossil fuels is one of the most controversial topics in global climate negotiations.
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