$9.3 billion climate funding pledged

Nations meeting in Berlin on Thursday pledged $9.3 billion for a climate fund to help poor countries cut emissions and prepare for global warming, just shy of a $10 billion target.

The South Korea-based Green Climate Fund (GCF) aims to help developing nations invest in clean energy and green technology and build up defences against rising seas and worsening storms, floods and droughts.

Out of over 30 countries at the meeting, 21 made pledges that added up to “the largest amount the international community has ever mobilised for a dedicated climate finance mechanism,” said the fund.

Hela Cheikhrouhou, the fund’s executive director, said the money would be spent equally on climate change adaptation and reducing emissions, much of it for vulnerable small island nations and Africa’s poorest countries.

The United States had already pledged $3 billion and Japan $1.5 billion. Germany and France have promised $1 billion each, Britain more than $1.1 billion and Sweden over $500 million.

Other countries that have made pledges include the Czech Republic, Denmark, Finland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, South Korea and Switzerland.

The fund is seen as a first step toward a far more ambitious goal set at the Copenhagen climate summit five years ago — for the world to “mobilise” $100 billion a year for broader climate finance by 2020. — AFP

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