France and the UK became the third and fourth countries to pledge to double their contribution to the Green Climate Fund. France’s pledge to contribute $1.71 billion to the UN flagship climate fund came after the UK also promised to double its contribution to $1.75bn.
The fund was created as a carrot to convince poor countries, that are not historically responsible for climate change, to commit to curb their pollution under the Paris Agreement. Wealthy countries initially promised $10.3bn in start-up capital to the fund in 2014. Currency fluctuations and Donald Trump refusing to deliver $2bn of the US pledge has yet seen the GCF receive only $7bn in contributions. So far, more than $5.2bn has been allocated to projects to help vulnerable countries cut emissions and adapt to the impacts of climate change.