Leaders attend Climate Fund summit
Countries interested in contributing to the UN Green Climate Fund have been meeting in Oslo to try to raise billions of dollars for low-carbon projects in developing nations.
The meeting, hosted by the Norwegian minister of foreign affairs, Borge Brende, and climate and environment minister Tine Sundtoft, was attended by officials from 24 developed and developing countries.
Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, hopes to see at least $10bn raised for the fund by the end of this year.
“I am content that the process got off to a good start in Oslo, and deliberations were held in a good atmosphere. Important progress was made paving the way for pledges this year,” says Brende.
“I believe we are on the right track towards making the fund a game-changer in the response to climate change."
Sundtoft adds:“We will only get a meaningful deal in Paris in 2015 with a solid Green Climate Fund.”
Once capitalised, the idea is to provide grants and loans for projects and programmes to help developing countries boost sustainable development while curbing greenhouse gas emissions and adapting to climate change.
UK and German officials have indicated that their countries are ready to deliver funds, although specific figures remain unclear. Some world leaders are expected to make pledges at UN secretary-general Ban Ki-Moon’s September climate summit in New York.