Minister for Development Cooperation Caroline Gennez announced on Thursday that Belgium will increase its contribution to the Green Climate Fund (GCF) by 50%: from €100 million to €150 million for the period 2024-2027.
The announcement came on Thursday, at the Green Climate Fund High-level Pledging Conference in Bonn (Germany), where Gennez is representing Belgium. This increase from the €100 million Belgium had pledged in 2019 makes it Belgium's largest-ever contribution to the. In total, 25 countries pledged $9.3 billion (around €8.8 billion) for the same period.
"The conference in Bonn sends a signal of solidarity: the world is standing together in the fight against climate change," said Ms. Svenja Schulze, Federal Minister for Economic Cooperation and Development in Germany.
"I am grateful to our contributors who have pledged to the Green Climate Fund's replenishment so far. They recognise that addressing the climate crisis is a shared responsibility, and that developing nations are not alone in this fight," said GCF Executive Director, Mafalda Duarte, in a press release.
"As we approach COP28 and look beyond, we will redouble our efforts to support the vulnerable, unlock private capital, drive efficiency, and enable transformative climate action where it is needed most."
The Green Climate Fund works within the United Nations Framework Convention on Climate Change (UNFCCC) and was born out of the Paris Agreement in 2015 to finance climate-related projects in developing countries. Its aim is to increase its $17 billion (around €16 billion) funding to $50 billion (around €47.4 billion) by 2030.
To date, Green Climate Funds have already been invested in 129 countries through projects bringing green energy to people with low incomes, enhancing climate resilience of indigenous people and securing food and water security, among others.
