UK doubles Green Climate Fund contribution

The UK has decided to double support to developing countries’ efforts to reduce greenhouse gas (GHG) emissions through the Green Climate Fund (GCF). The GCF supports conservation and emission reduction projects in the developing world, and was established as part of the COP climate change initiative. Before the commencement of the G7 summit, the Prime Minister announced that the UK would double its contribution to this fund over the next four years, bringing the contribution figure to £1.44bn.

More than 40 countries fund development projects through the GCF. Since the GCF’s establishment in 2015, it has funded 111 projects with roughly £4.6bn in provisions. This increase in contribution from the UK could increase the volume of projects funded over the next four years, especially those concerned with GHG emissions, the UK's primary focal point and reason for involvement in the GCF. As a GCF board member and major contributor to the fund, the UK holds sway on the fund’s spending decisions. The current portfolio of GCF funded projects are predicted to help roughly 300m people cope with climate change by reducing the equivalent of 1.5bn tonnes of CO2 levels in the air.

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