New Zealand contributes $15 million to Green Climate Fund’s first replenishment
New Zealand will provide a $15 million contribution to the Green Climate Fund’s (GCF) first replenishment.
This was announced by New Zealand’s Ambassador to France, Jane Coombes, at the GCS’s pledging conference, held in Paris on Friday.
Climate change is already creating significant and growing challenges around the globe. It is expected to create unprecedented economic, social and environmental challenges, including in the Pacific where, for some countries, it poses an extreme threat including from storms and sea-level rise.
A contribution to the Green Climate Fund complements New Zealand’s existing programmes of support for climate action particularly in the Pacific.
The GCF is a US$10 billion fund used to finance efforts to cut green-house gas emissions and support climate change adaptation in developing countries. The GCF is based in Songdo, South Korea, and governed by a 24-member Board comprising developed and developing country members.
The GCF has approved 11 Pacific projects to date including for renewable energy in Solomon Islands, integrated flood management in Samoa, water security in the Republic of Marshall Islands and coastal protection in Tuvalu.
New Zealand’s contribution to the fund will enable us to support climate action, both in the Pacific and in countries where New Zealand does not have the expertise or scale to make a difference.
New Zealand has committed to providing $300m in climate-related support over the next four years, including a $150m Pacific-focused climate change programme announced by the Prime Minister at the Pacific Islands Forum in Tuvalu in August.