29.01.2014

Federal Environment Ministry contributes to start-up finance for Green Climate Fund

The Green Climate Fund, adopted during UN climate negotiations, will finance climate change mitigation projects in developing countries. The Federal Environment Ministry is making 30 million Euro available to prepare these countries for the required financing and project standards.

Federal Environment Minister Hendricks explained: "This action was taken in response to great concerns of developing countries. The money will help them prepare for appropriate climate change mitigation projects and hopefully with this start-up funding, the Green Climate Fund can take up operation soon."

During the UN Climate Conference in Durban in 2011, the Green Climate Fund was adopted as a vital component of climate finance. The Fund was set up to support developing countries reduce greenhouse gas emissions and adapt to the impacts of climate change. The Board and Secretariat of the Fund are currently working on the prerequisites for the Green Climate Fund to be replenished in 2014 and start financing projects.

Half of the funding provided by the Federal Environment Ministry will be allocated to a programme implemented by the UN and the World Resources Institute. This GCF Readiness Programme will provide support for Benin, El Salvador, Fiji, Ghana, Colombia and Nepal. Preparations are underway for measures in Kenya, the Philippines and Uzbekistan. A further 15 million Euro will be put directly into the Green Climate Fund so that the Fund's Secretariat can begin preparations for recipient countries.

At the 2011 Climate Conference in Durban, the Federal Government announced it would make 40 million Euro available to the Green Climate Fund for preparatory measures - with the Federal Environment Ministry and the Federal Ministry for Economic Cooperation each providing half of the amount. This pledge has now been exceeded.


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