German bank and green fund sign deal to raise private finance

Deutsche Bank and the Green Climate Fund (GCF) have signed a deal to raise private capital for environmental action. The Accreditation Master Agreement (AMA) will enable the bank to use GCF funds to mobilise private investment for climate change mitigation. GCF has already approved the first funding proposal from Deutsche Bank, which combines capital from GCF and private investors to […]

US, Japan miss UN climate donation deadline

The US and Japan are among at least 12 countries that have yet to provide donations for a new UN fund intended to help developing nations tackle climate change. The Green Climate Fund (GCF) said donors have pledged almost $4 billion – but the figure is only 42% of the total that was promised late […]

Global climate fund hits $10bn goal

An international fund aimed at helping developing nations adapt to climate change has reached the $10 billion (£6.4bn) target. It follows a surprise contribution from Australia, which pledged to provide AUD$200 million (£106m) over four years. The nation’s Prime Minister Tony Abbott previously resisted global pressure to commit to the fund, arguing Australia already spends […]

UK pledges £720m to international climate fund

The UK has committed up to £720 million to an international fund to help developing nations adapt to climate change. The Green Climate Fund will target poor countries in an effort to help them reduce greenhouse gas emissions. The UK’s contribution takes the fund to around $9 billion (£5.7bn), which includes investments from the US, […]

France stumps up $1bn but world Climate Fund still short

A fund to help developing countries curb their emissions is well short of cash, despite a new pledge of $1 billion (£610m) from France. The Green Climate Fund was dreamed up in 2010 at the UN’s climate change meet in Cancun, Mexico. The UN’s senior climate change executive Christiana Figueres was hoping for $10 billion […]

Key aspects of Durban agreement outlined

The latest climate change agreement, wrestled into shape in Durban by the international community has been hailed by some for putting into place the roadmap for a legally binding agreement by 2015 and criticised by others for putting off vital measures. So what did COP17 achieve? Here are some of the main measures: Green Climate […]

International climate change agreement reached

An international climate agreement was agreed this weekend at COP17 in Durban. The deal brings together, for the first time, all major emitters into international efforts to limit global warming. However, many are still critical as the deal’s not likely until 2015. Governments, which included 35 industrialised countries, agreed a second commitment period of the […]