Canada grants USD 225m for Green Climate Fund

Image by: jola miziniak.

August 28 (Renewables Now) - Canada has pledged to make a CAD-300-million (USD 225.5m/EUR 203.4m) contribution to the Green Climate Fund (GCF), the latter announced on Tuesday.

The announcement was made by Canadian Prime Minister Justin Trudeau at the recent G7 Summit in France. It makes Canada the fourth country supporting the GCF in its current replenishment drive after Germany, Norway and the UK.

The GCF was set up in 2010 under the United Nations Framework Convention on Climate Change (UNFCCC) to support low-emission and climate-resilient projects and programmes in developing countries and help vulnerable areas adapt to the impacts of climate change. Its initial resource mobilisation between 2015 and 2018 gathered pledges worth USD 10.3 billion from 48 countries.

(CAD 1.0 = USD 0.752/EUR 0.678)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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