Climate action, and the Paris Agreement itself, depend on substantial climate financing. The GCF is the largest provider of technical and institutional support and training. It’s critical in helping developing countries implement their obligations under the Paris Agreement.
In its brief existence, the fund has mobilized US$5 billion for climate action in nearly 100 countries, which will avert 1.5 billion tonnes of CO2 and help more than 310 million people thrive. However, the GCF has allocated nearly all of the contributions it received during its initial launch. More than half of GCF projects are already being implemented. The world must safeguard and encourage the fund’s unique ability to support transformative climate action in countries most in need.Credit