Global Commitment to Climate Change Mitigation

Countries grouped within the Green Climate Fund (GCF) are beginning to fulfill their commitments to addressing climate change. In 2020, a group of developed countries agreed to mobilize US$100 billion annually to address the impacts of climate change.

The GCF is a funding institution established under the United Nations Framework Convention on Climate Change (UNFCCC) as an effort to build a financial mechanism to assist developing countries in adaptation and mitigation practices to combat the impacts of climate change.

Ten countries are the largest contributors among the 40 developed and developing countries that have committed funding from 2014 to 2020. The United States (US) is the largest contributor with US$3 billion, followed by Japan with US$1.5 billion.

In addition to contributions from developed UNFCCC member countries, the GCF raises funds from public, non-public, and alternative sources. Contributions from these parties can be in the form of grants, equity, or loans. This effort is a step towards mitigating the increasingly severe negative impacts of climate change each year.