Countries Pledge $9.3 Billion To Climate Change Fund

A total of 30 countries on Thursday have pledged $9.3 billion to the Green Climate Fund to reduce greenhouse gas emissions in developing countries.  



"This is a fantastic outcome which shows the responsibility of the international community for the future of the planet," Germany's development minister Gerd Mueller said at a press conference in Berlin -- after the first fundraising conference of the Green Climate Fund.



Ministers and high-level representatives of 30 countries participated in the conference, co-hosted by Germany's development minister Mueller and environment minister Barbara Hendricks.



"Our aim is to invest particularly in poor countries that are trying to take action against climate change and supporting them," Mueller said.



Germany's environment minister Hendricks acknowledged that developed countries bear the main responsibility for climate change, so their contributions to the fund encourage developing countries to take measures for climate protection.



"We have a bigger responsibility than emerging or developing countries," Hendricks said. "But it is accepted that everyone should contribute to the fund as best as they can according to their possibilities."



UK pledges $1.2 billion



Germany announced that it would contribute to the fund with a €750 million euro ($1 billion) grant. The U.K. pledged $1.2 billion.



Earlier the U.S. had announced that it would contribute $3 billion. Japan had committed $1.5 billion and France $1 billion to the fund.



Other participants of the conference Spain, Finland, New Zealand, Mongolia and Panama also promised support but have not announced exact figures.  



Officials said in several countries parliamentary debates on national budgets are not yet concluded, and these countries are expected to announce their commitments in the coming weeks.



Hela Cheikhrouhou, Executive Director of the Green Climate Fund described the fundraising conference as a "historic moment."



Cheikhrouhou said that the fund would support, in particular, the most vulnerable countries like small island states, least developed countries and African states.



The fund is expected to begin considering funding proposals from developing countries in the second half of 2015. 



www.aa.com.tr/en - Berlin