Norway signs agreement on funding for Green Climate Fund

‘Climate change is the most important issue of our time. We have to cut emissions, and quickly. In addition, we must ensure that countries adapt to the impacts of climate change that is already happening, and we must limit the devastating consequences of climate-related natural disasters. We must not close our eyes to the fact that climate change is already destroying crops and forcing millions of people from their homes,’ said Minister of International Development Dag-Inge Ulstein.

Norway intends to be a driving force in international climate change efforts. The Government has chosen to make the Green Climate Fund the primary channel for Norwegian funding for climate-related efforts in developing countries in the years ahead. 

‘The Green Climate Fund has delivered good results in developing countries. That is why we are now increasing our support to the Fund from NOK 400 million to NOK 800 million a year,’ Mr Ulstein said.

The Green Climate Fund was established by the parties to the United Nations Framework Convention on Climate Change (UNFCCC) in 2010. The aim of the Fund is to promote low-emission and climate-resilient development by providing funding to support mitigation and adaptation efforts in developing countries. 

‘The Green Climate Fund is playing a key role in implementing the Paris Agreement and in ensuring that we succeed in cutting greenhouse gas emissions and protecting the environment. That is why it is important for us to double our annual contribution to the Fund. This funding will be used to support projects to reduce greenhouse gas emissions and promote climate change adaptation in developing countries,’ said Minister of Climate and Environment Ola Elvestuen. 

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