- The acting Minister of Economy and Business, Nadia Calviño, and the Executive Director of the Green Climate Fund, Yannick Glemarec, have signed the contribution agreement within the framework of COP25
- Spain increases its initial contribution by 25%, thus reinforcing its commitment in the fight against climate change and continues to be among the countries that lead the climate agenda
- Since the creation of the Fund in 2010, 124 projects have been financed for an amount of 5,600 million euros, which have reduced CO2 emissions to 1,600 million tons
The acting Minister of Economy and Business, Nadia Calviño, and the Executive Director of the Green Climate Fund, Yannick Glemarec, have signed the agreement for Spain's contribution to the Fund. This commitment was already advanced by the President of the Government in office at the Climate Action Summit held in New York last September.
Spain increases its contribution to 150 million in the period 2019-2023, which represents an increase of 25% over the amount initially committed, which illustrates – the Minister of Economy and Business has pointed out – “Spain's important commitment in financing of climate change in developing countries ”. Spain is positioned as one of the main contributors and is part of the group of countries that lead the climate agenda.
The Green Climate Fund, of which Spain has been a part since its creation in 2010, is the main financial instrument of the Framework Conference on Climate Change and, as Minister Nadia Calviño has pointed out, “is called to be a fundamental piece to channel the funds from developed countries to transformative climate projects in developing countries, thus leading a change in the climate paradigm ”.
The funds will be used to finance investment projects in developing economies with a dual objective: on the one hand, to mitigate the effects of climate change by reducing greenhouse gas emissions and, on the other, to help these countries adapt to climate change. Nadia Calviño has shown her confidence in the "good governance of the Green Fund in favor of a model of sustainable development at the global level and greater climate ambition to meet the objectives of the 2030 Agenda."
Since the Fund was created, 124 projects have been approved for an amount of $ 5.6 billion. The funded projects have benefited 348 million people worldwide and have reduced up to 1.6 billion tons of CO2 emissions.
