Norwegian Prime Minister
Erna Solberg has announced plans to scale up Norway’s
commitments to the Green Climate Fund.
Norway
already pledged $258 million to the Fund last year as part of
the initial resource mobilization and has now promised to double
that figure by 2020, provided that GCF can finance verified emissions
reductions in deforestation and forest degradation.
Speaking
at the Paris climate conference, Prime Minister Solberg stressed the importance
of climate finance and Norway’s support for the Fund.
"The
Green Climate Fund is now ready for business. I am pleased to announce today
that Norway will significantly increase its contributions. If the Fund secures
verified emission reductions from deforestation and forest degradation in
developing countries, we will double our contribution by
2020," she stated.
Børge Brende,
the Foreign Minister of Norway, also reinforced his
country's support for GCF.
He emphasized the
role of the Fund in adaptation projects, stating, “The Green Climate Fund
will reduce developing countries’ vulnerability to climate change.
Investments in adaptation to climate change are investments in
development.”
GCF
opened its initial resource mobilization in October 2014, rapidly reaching USD
10 billion equivalent by the end of the year.
The
Fund remains open for contributions during its initial resource mobilization
period and accepts them on an ongoing basis.
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