27 countries pledged to replenish the Green Climate Fund (GCF) by USD 9.78 billion equivalent for the next four years. The resources will help developing countries reduce greenhouse gas emissions and adapt to the negative effects of global warming, such as rising sea levels, record temperatures, prolonged drought, and more frequent and severe weather events.
The amount pledged exceeds the USD 9.3 billion announced at the Fund’s previous pledging conference in 2014, even though some of those contributors have yet to pledge. Three-quarters of the countries increased their pledges in national currency. Nearly half of them doubled or more than doubled their pledges. The United Kingdom, France, Germany, Japan and Sweden are the top contributors. The Fund will continue receiving contributions in the coming four years.