The German government says developed countries have pledged $9.3 billion to help poor nations tackle climate change. The pledges on Thursday came at a donor conference hosted by the German city of Bonn. The gathering was held to replenish the South Korea-based Green Climate Fund that was established in 2010 as a financing vehicle for developing countries. It's the largest such fund aimed at providing money to help poorer nations in reducing their emissions, coping with impacts of climate change and boosting their transitions to clean energy. The pledged money at the conference in Bonn will be used to finance projects in developing and emerging nations between 2024 and 2027.
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Three quarters of contributing states increased their pledges, compared to the previous donor conference in 2019, including Germany, Austria and France. Denmark, Ireland and Liechtenstein doubled their pledges. “The Green Climate Fund, envisioned as the lifeline for climate action in developing nations, is held back by the indifference of wealthy countries,” said Harjeet Singh, Head of Global Political Strategy of the Climate Action Network International, a global network of over 1900 environmental civil society organizations in over 130 countries.
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