Paris Climate Agreement 100 Billion A Year

This level of commitments has increased sharply compared to 2015 (+65%) and brings to more than €33.8 billion the total amount of AFD Group financing promised since 2005, with a climate benefit. In line with its climate strategy, AFD (excluding Proparco) will reach 55% of allocations in 2018 with a “climate” of co-benefits. Commitments to contribute to the Green Fund thus exceed the $9.3 billion promised at the last Berlin conference in 2014, although some contributors have not yet indicated their commitment. At COP Climate 15 in 2009, the most industrialized nations pledged to help the poorest by providing $100 billion in aid annually by 2020. Every year, the “rich” countries renew their promise without fully fulfilling it. This raises the question of whether the Fund is really aimed at developing countries most vulnerable to climate change or countries where investment opportunities are most profitable. There is a lack of formal or clear criteria that contributions to the Green Climate Fund must reach those who need it most. . .

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