Developed countries pledged $9.3 billion to help poor nations tackle climate change at a conference held in the German city of Bonn on Thursday, authorities said. However, nongovernmental groups criticized the outcome, saying the funds fall short of what is needed to tackle climate change.
The pledges will help replenish the South Korea-based Green Climate Fund, established in 2010 as a financing vehicle for developing countries. It’s the largest such fund aimed at providing money to help poorer nations in reducing their emissions, coping with impacts of climate change and boosting their transitions to clean energy.
The pledged money at the conference in Bonn will be used to finance projects in developing and emerging nations between 2024 and 2027. The German government alone pledged 2 billion euros ($2.1 billion).
This is the best summary I could come up with:
VIENNA (AP) — Developed countries pledged $9.3 billion to help poor nations tackle climate change at a conference held in the German city of Bonn on Thursday, authorities said.
It’s the largest such fund aimed at providing money to help poorer nations in reducing their emissions, coping with impacts of climate change and boosting their transitions to clean energy.
Three quarters of contributing states increased their pledges, compared to the previous donor conference in 2019, including Germany, Austria and France.
Civil society and NGOs criticized the commitments made Thursday, saying they fall short of what is needed to tackle the impact of climate change on vulnerable communities in developing nations.
Sultan Al Jaber, president designate of COP28, told The Associated Press in a statement that “the current level of replenishment is neither ambitious nor adequate to meet the challenge the world faces.”
German Minister for Economic Development Svenja Schulze, who hosted the Bonn conference, called on more nations to contribute their “fair share” to the financial effort.
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