The President of the United States, Joe Biden, has announced a contribution of USD 1 billion to the Green Climate Fund.
Responding to the news, the Executive Director ad interim of the Green Climate Fund (GCF), Henry Gonzalez, stated,
"GCF welcomes President Biden’s announcement of a significant contribution from the United States. This money will provide urgently needed climate finance for the most vulnerable countries in the world. The USD 1 billion will increase the resilience of populations in Least Developed Countries, protect Small Island Developing States threatened by climate change, and support the transition to low-emission, climate-resilient development around the world."
The Green Climate Fund (GCF) is the world’s largest dedicated climate fund. GCF’s mandate is to foster a paradigm shift towards low-emission, climate-resilient development pathways in developing countries. GCF has a portfolio of USD 12 billion (over USD 45 billion including co-financing) delivering transformative climate action in 140 countries. It also has a readiness support programme that builds capacity and helps countries develop long-term plans to fight climate change. GCF serves the Paris Agreement, supporting the goal of keeping average global temperature rise well below 2 degrees Celsius.
GCF’s latest progress report, covering the 2020-2022 period, is available here.