Green Climate Fund: GCF
May 17, 2019
- GCF is a fund for supporting reduction of greenhouse gases (mitigation) and addressing impacts of climate change (adaptation) in developing countries.
- Establishment of GCF was decided in the 16th meeting of parties to the United Nations Framework Convention on Climate Change (COP16) held in 2010.
- On May 2015, Japan confirmed its contribution to GCF, which helped GCF start funding to projects.
- 47 countries and cities announced contributions to GCF as for now and the total amount reaches USD 10.3 billion.
2 Funding of GCF
- Allocation of funds: Aiming for a balance between 50:50 mitigation and adaptation.
- Countries covered: Emphasis on countries vulnerable to the impact of climate change, such as Small Island Developing States (SIDS) and least developed countries (LDC). (It also aims for a floor of 50% of the adaptation allocation for particularly vulnerable countries)
- 102 projects have been adopted by the board so far. These include projects in island countries and projects related to disaster reduction that are being emphasized by Japan.
3 Amount Pledged by main donor countries (USD 100 billion.)
Total of approx. USD10.3billion
As of December 2016
4 Contribution by Japan to GCF
- At the G20 Summit held in November 2014 Prime Minister Abe announced the contribution of USD 1.5 billion to GCF.
- After approval of a bill stipulating the necessary measures for the contribution, Japan’s contribution was confirmed in May 2015. This allowed GCF to start funding.
- Japan actively contributes to the management of GCF in the Board, the decision-making body of GCF, where Japan has seats as Board Member and Alternate Board Member.