Green Climate Fund must delivery transparency and integrity, say NGOs
The GCF remains hugely underfunded. While developing countries have committed to mobilizing US$100 billion per year for climate finance by 2020, so far, it has only raised $7.5 million.Dec 2009: Hillary Clinton Pledges $100B for Developing Countries - NYTimes.com
This has caused some to worry about the ambition of the Fund, and the upcoming meeting in Paris this week will be instrumental in determining the feasibility of collecting the requisite financial pledges at the UN climate talks in Warsaw this November.
[Oscar Reyes] “To say this is an inauspicious start is an understatement.”
COPENHAGEN -- Secretary of State Hillary Rodham Clinton has promised the United States will help raise $100 billion annually by 2020 to assist poor countries in coping with climate change as long as America's demands for a global warming pledge are met.