On the occasion of the High-level Pledging Conference for the Green Climate Fund’s second replenishment (GCF-2), which was held on October 5 in Bonn, France confirmed that it would contribute €1.61 billion to the Green Climate Fund over the next four years (2024-2027). France’s contribution – the largest since the Green Climate Fund was established – makes it the third-largest contributor to the Fund.
Twenty-five countries announced a total of $9.33 billion in contributions. Other announcements are expected by the COP28, which will be held in Dubai from November 30 to December 12.
France is especially committed to provide climate financing to developing countries. In late 2020, President Macron pledged to allocate €6 billion each year from 2021 to 2025 for that purpose. That commitment was largely surpassed in 2022, with €7.6 billion allocated to climate financing, €2.6 billion of which went for climate change adaptation, as Minister for Europe and Foreign Affairs Catherine Colonna reminded the UN General Assembly on September 24.
France, along with the EU, is therefore shouldering more than its fair share of the collective effort to bring climate financing to $100 billion per year.