The Green Climate Fund

By IPS Correspondents Reprint | | Print |

Dec 12 2011 - The Green Climate Fund is meant to help developing countries with 100 billion dollars a year by 2020 to adapt to the effects of climate change. The creation of the GCF was approved during the COP16 in Cancun. Civil society and some developing nations noted that governments have made trillions of dollars available for the bank and financial sector and that the world’s military budget is more than 10 times what is needed for the GFC. Up until now, countries have not been able to agree on a single mechanism to draw public funds.

The Green Climate Fund from IPS Inter Press Service on Vimeo.