UN Green Climate Fund Head Quits; Projects To Date 3.7% Of Annual Paris Commitments
OSLO (Reuters) - A Green Climate Fund (GCF) meant to channel billions of dollars to poor nations said it had had a “very difficult and disappointing” meeting ending on Wednesday, in a new setback after U.S. President Donald Trump pulled out U.S. support last year.
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The meeting failed to add to its portfolio of 76 projects worth $3.7 billion, which range from promoting rooftop solar energy in India to helping Colombia safeguard wetlands.
The fund, which won initial pledges from developing nations totaling $10.3 billion in 2014, including $3 billion from the United States, has been plagued by red tape and suffered last year when Trump said it was a waste of U.S. taxpayer dollars. Trump halted U.S. contributions as part of his decision to quit the 2015 Paris climate agreement. That cut the GCF to $8 billion, since former president Barack Obama had paid $1 billion of the planned $3 billion.
The GCF did not give a reason for Bamsey’s departure, which was effective immediately, but Baage said he had done an “exceptional job” since taking over in 2016.
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https://www.reuters.com/article/us-climatechange-gcf/green-climate-fund-meeting-disappointing-chief-quits-idUSKBN1JU2GR