WASHINGTON— On November 20, 2014, countries held a pledging conference of the Green Climate Fund in Berlin – where countries announced their financial commitments to the Fund. These funds will be used to support vulnerable countries to respond to the mounting risks of climate change, and to reduce emissions that cause climate change.

The results of the high-level pledging conference have important implications not only for the Green Climate Fund, but for progress at forthcoming UN climate negotiations in Lima, and prospects for a global climate agreement in 2015.

Following is a statement by Athena Ballesteros, Director, Finance Center, World Resources Institute:

“Countries are rising to the climate challenge and putting real money on the table. These commitments should help the world’s poorest respond to the devastating impacts of climate change that are already happening. They will also help countries that are looking to move to a low-carbon trajectory.

“While these resources represent only a small portion of what’s needed overall, the Green Climate Fund is being created to make smart investments, and it can also help shift private sector investment toward climate solutions. These urgently needed funds will help to ensure that all people can enjoy high-quality and prosperous lives, even in the face of the climate challenge.

“Nevertheless, more needs to be done. In the coming days, additional countries should come forward to push the Fund over the $10 billion mark and ensure that all countries’ pledges to date are fully realized.”

Learn more about the pledges to the Green Climate Fund, here: http://www.wri.org/blog/2014/11/us-japan-build-climate-action-momentum-45-billion-pledge-are-conditions-fair-and

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