Green Climate Fund (GCF) refers to the green climate fund of the United Nations. It is the world’s largest fund that aims to tackle climate change. It was created through the belief that future investments are a crucial part of a sustainable future. In other words, future investments can help to keep the earth’s temperature below the 2 degree target of the Paris Agreement.
Green Climate Fund & the UN
The fund supports developing nations with their Nationally Determined Contributions (NDCs). The so called NDCs are a part of the Paris Agreement. The contributions are sustainability goals that each nation has to present to the UN. These are updated every fifth year to make it possible to develop the efforts. Some of the agendas are for example to decrease the emissions of greenhouse gases (that contribute to global warming). Other projects can be to adapt areas for the changing climate that is already occurring or is predicted to occur in the near future. In other words, GCF is a way for developing nations to get financial support for a sustainable development.
Different investments within GCF
The green climate fund works with four main areas. Naturally, the first is the environment. Following this is energy and industry. The third part deals with human security, work and wellbeing. Finally, the forth area handles forests and ecosystems. For example, the GCF can fund the private sector and its capability to create sustainable productions. The fund can also support governmental projects.
Green Climate Fund today
As of today, the green climate fund of the UN has supported over 150 environmental projects in around 100 nations. More so, the fund makes an effort to work with nations that are already facing climate changes today. Such as island nations. The goal is to work in a counteracting as well as adapting way with the changes of the climate.
For example, one GCF funded project is the “River Restoration for Climate Change Adaptation (RIOS)” in Mexico. The initiative rehabilitates rivers that have been damaged by extreme weather. Or adapts rivers as a climate change mitigation effort.
Another example is a food security project in Burundi. Here, scientists believe that the climate of the future will create a combination between drought and floods. The extreme weather that has been predicted will endanger the food production in the nation. More so, it is believed that the production from farming will decrease with about 5-25 %. Some of the initiatives of the project work to develop a more effective use of water. In other words, creating possibilities of larger productions with a more efficient distribution and use of water. This project will affect around 500.000 people. Find out more at the Green Climate Fund webpage.
Source: Green Climate Fund