Green Climate Fund plans to allocate $50 mln in climate finance this year

Henry Gonzalez is the Chief Investment Officer of the Green Climate Fund

© APA | Henry Gonzalez is the Chief Investment Officer of the Green Climate Fund

# 11 October 2024 11:57 (UTC +04:00)

"The foundation I represent is considering increasing its allocation to climate finance from $30 million to $50 million this year," said Henry Gonzalez is the Chief Investment Officer of the Green Climate Fund who joined the Ministerial Conference via video conference on "Climate and Development" held in Baku within the framework of "Pre-COP", APA reports.

According to him, transparency and accountability of all financial resources that will be directed to the prevention of climate change should be provided: "Holding of the 29th session of the Conference of the Parties to the UN Framework Agreement on Climate Change (COP29) is also in the interest of the foundation I represent. In 2023, our foundation allocated $30 million to fight aginst climate change. This year, we plan to increase that amount to 50 million dollars. We especially favor the policy of publicizing financial instruments as well as transparency. The goal of our fund is to achieve an increase in the volume of funds allocated to this field from next year. We believe that the issue of funding for 2024-2025 will be resolved in an appropriate manner, being a subject of wide discussion among the relevant institutions of individual states."

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