Contributed by Robert Lyman © Sept. 2017
The Green Climate Fund (GCF) is the fund that was established under the Framework Convention on Climate Change to finance the greenhouse gas reduction efforts of developing countries and their efforts to adapt to climate change. The funds are to be provided mostly by the “Annex II” countries, with the objective that their contributions will rise to at least $100 billion per year by 2020.
During the 10th meeting of the GCF Board of Directors in August 2017, the board received a report on the actual financial pledges that had been made and delivered to date. The report can be read here:
The total grant-equivalent amount of the pledges as of August 18 was the equivalent of U.S. $9,678.3 million dollars. That is a long way from $100 billion per year.
The countries of Europe contributed $4,692.5 million, or 48.5%.
The countries of North America (the U.S., Canada and Mexico) contributed $3,185.1 million, or 32.9%. Canada’s actual contribution to date is U.S. $175.1 million (out of the $2.65 billion that Prime Minister Trudeau has committed in principle).
The countries of OECD Pacific (Japan, South Korea, Australia and New Zealand) contributed $1,789.8 million, or 18.6%.
The rest of the world, including China, India, Russia and the Middle East contributed nothing.
For more background information on the Green Climate Fund, please read an earlier work on this topic by Robert Lyman entitled “Who Cuts? Who Pays? Show Me the Money!”