UN Green Climate Fund pledges reach $9.3b

The United Nations' Green Climate Fund (GCF) has pulled in $9.3 billion in pledges from 25 countries to help vulnerable countries cope with climate change, the fund's facilitator said yesterday.

With global temperatures rising, world leaders have been looking to boost support for climate action amid mounting criticism over a lack of urgency to respond to risks.

The GCF was set up under UN climate change negotiations to help channel money needed by poor states to meet their targets to reduce carbon emissions, develop cleaner energy sources and adjust to a warming world.

It is seeking contributions to fund projects in climate-vulnerable counties over 2024-2027, aiming to exceed the $10 billion it raised in its last three-year round.

Some 75 percent of the contributors increased their pledges compared with the last replenishment round, with Germany, Britain, France and Japan the biggest backers.