Officials from the group hope to help these nations adapt to certain climate extremes, including droughts and floods, and to purchase low-carbon energy sources.
Wealthier nations will soon meet in Berlin to help poor nations make a smoother transition in a global climate change deal. The Green Climate Fund will assist developing countries launch from dirtier industries that powered development in the U.S. and adopt a clean-energy economy.
Officials from the group hope to help these nations adapt to certain climate extremes, including droughts and floods, and to purchase low-carbon energy sources. Previously, wealthier nations promised developing countries would receive $100bn per year by 2020.
The Green Climate Fund has a goal of holding $10bn by the year’s end. President Barack Obama recently announced that the U.S. will contribute $3 billion to the fund. France and Germany have each pledged $1 billion, with Japan pledging $1.5 billion. Britain is expected to announce a generous contribution to the fund at the meeting.
It is believed that the UK will pledge around $1 billion from previously existing aid budgets. The UK’s contribution will come from an aid budget from 2011-2016 to help developing countries adopt clean energy and deal with climate change.
UK Secretary of State for Climate Change, Ed Davey, said in a statement, “The poorest and most vulnerable on the planet are already suffering the effects of climate change and it’s our moral duty to act.”
Davey explained that the aid could help protect low-lying islands and coastal settlements, which are vulnerable to rising sea levels. He said, “I urge other countries to be equally ambitious.”
According to the official Green Climate Fund website, the purpose of the Fund is to make a significant and ambitious contribution to the global efforts towards attaining the goals set by the international community to combat climate change.
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