A batch of positive funding news, in both public and private sectors, has raised hopes of progress at international climate change talks
The executive director of the UN’s Green Climate Fund (GCF) has hailed a spirit of “renewed trust and enthusiasm” after 22 countries promised just short of an initial $10bn target for adaptation and mitigation measures in developing nations. Hela Cheikhrouhou said the pledging conference in Berlin in November was a “game changer” and boded well for international talks on climate change in Peru this month, as well as next year’s conference in Paris.
The Lima meeting is meant to end with a skeleton negotiating text for an agreement on carbon cuts at the end of 2015 in France. Optimism has also risen because of a deal in November between China and the US, the world’s biggest carbon polluters, to limit emissions. The GCF is the first stage in a more ambitious goal set at the Copenhagen climate summit in 2009 for the world to “mobilise” $100bn a year in public and private finance for developing countries to invest in climate mitigation and adaptation by 2020.
The most vulnerable nations, including small islands and some of Africa’s poorest countries, will use the finance to invest in clean energy and defences against rising seas, bigger storms, floods and droughts. GCF, based in South...