Friday, June 30, 2017

Cash begins trickling out of Green Climate Fund

Lambasted by Donald Trump and much criticised from all sides, the seemingly friendless Green Climate Fund has begun doling out money.

"We must protect the Amazon, as the life
of the planet depends on this ecosystem." 
Five years after its inaugural meeting, the fund has almost $10 billion of donations pledged but only a few million dollars have reached climate projects.

With its next board meeting scheduled for the 5-6 July, the UN-backed conduit for climate finance announced a series of payouts in May and June totalling $5.2m. A press release said the fund was scaling up disbursements.

On Friday, the Maldives received the first $3m of $23.6m committed to build better water infrastructure in the atoll nation, which is threatened by it lack of natural reservoirs, rising seas and saltwater intrusion.

Reads the Climate Home story - “Cash begins trickling out of Green Climate Fund.”

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