Narrow donor base raises doubts about Green Climate Fund’s global role
NewsNovember 01, 2019
Conceived at the 2009 climate summit in Copenhagen and launched five years later, the Green Climate Fund has struggled to establish itself as a major channel for climate financing for developing countries. The fund bled billions of dollars during its first period, and the USD 9.8 billion secured at the GCF’s replenishment conference one week ago is a drop in the ocean compared to at least USD 1.6 billion a year that is needed to limit warming to 1.5 degrees C.
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