{"id":49247,"date":"2023-09-21T15:57:59","date_gmt":"2023-09-21T14:57:59","guid":{"rendered":"https:\/\/www.climatechangenews.com\/?p=49247"},"modified":"2023-10-05T09:34:06","modified_gmt":"2023-10-05T08:34:06","slug":"green-climate-fund-may-have-to-curb-ambition","status":"publish","type":"post","link":"https:\/\/www.climatechangenews.com\/2023\/09\/21\/green-climate-fund-may-have-to-curb-ambition\/","title":{"rendered":"Green Climate Fund may have to curb ambition as funding stagnates"},"content":{"rendered":"

The UN’s flagship global climate fund looks likely to have to rein in its ambition, after France announced<\/a> just a 4% boost in its contribution.<\/strong><\/p>\n

Yesterday, French finance minister Bruno Le Maire announced his nation would give \u20ac1.61 billion ($1.75bn) to the organisation’s four-yearly fundraising round.<\/p>\n

While that’s slightly more in euros than France gave last time in 2019, the changing exchange rate means it is less in US dollar terms.<\/p>\n

With the UK also offering only a slight boost to its funding, pledges so far total 15% more than in 2019. If other contributors match that trend, the GCF will raise $11.5 billion this round, short of the $12.5 billion in its middle ambition scenario.<\/p>\n

Big potential donors Japan, Sweden and Norway are yet to pledge. A commitment from the US, which did not give any money in 2019 and only delivered two-thirds of its 2014 pledge, could be game-changing.<\/p>\n