This contribution reinforces Spain's commitment to the challenges arising from climate change by financing investment projects in developing economies.
- Spain has been part of the Fund since its creation in 2010 and the approved contribution will allow it to remain among the countries that lead the climate agenda
The Council of Ministers has approved the participation of Spain in the first replenishment of the Green Climate Fund with a contribution of 150 million euros for the period 2019-2023. This commitment was advanced by the President of the Government in office at the Climate Action Summit held in New York last September.
Spain has been part of the Fund since its creation in 2010, made up of the countries of the United Nations Framework Convention on Climate Change.
With this contribution, Spain reinforces its commitment to the fight against climate change and is part of the group of countries that lead the climate agenda. The funds will be used to finance investment projects in developing economies with a double 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.
Since the creation of the Fund, 111 projects worth $ 5.2 billion have been approved, which have allowed the mobilization of resources totaling $ 18.7 billion. The financed projects have benefited 310 million people worldwide and have reduced CO2 emissions by 1.5 billion tons.