WASHINGTON, D.C. (Nov. 16, 2014) — Making good on the commitment to support efforts to curb greenhouse gas emissions and build climate resilience worldwide, the United States and Japan announced a total of up to $4.5 billion in pledges to the Green Climate Fund (GCF), according to the White House on Sunday.
This includes up to $3 billion from the United States and up to $1.5 billion from Japan, subject to respective domestic procedures and based on strong contributions from other donors. The pledges build on those already announced by Germany, France, and other donors, which include developed and developing countries.
The pledges will be reiterated at the GCF’s pledging session on November 20 in Berlin, Germany, where additional countries are expected to announce pledges. By announcing significant pledges promptly and at the leader level, the two countries aim to provide great momentum to the ongoing climate change negotiations toward a post-2020 agreement that is applicable to all, in which countries make ambitious and transparent commitments to reduce their emissions.
Sunday’s announcement builds on a history of collective leadership by the United States, Japan, and other countries to support resilient and low-carbon development around the world. In 2008, the two countries jointly spearheaded the establishment of the Climate Investment Funds (CIFs). Sunday’s pledges to the GCF are a continuation of that spirit of leadership, according to the press release. The GCF will mobilize investment from the private sector, whose resources and expertise will be essential to meet the climate challenge.
The action is intended to encourage all countries that are able to make the effort to join in pledging to the GCF. The U.S. and Japan will continue working with their partners on the GCF Board and other stakeholders to make the GCF fully operational and ensure that it is an efficient and effective channel for climate finance.