Written By: Jim Greenberg
Indonesia has promised US$250,000 to the Green Climate Fund to help drive low-carbon investments and clean-energy solutions in developing countries.
Hoping to encourage further contributions from other countries, Indonesia has become the second developing country to pledge money to the Green Climate Fund (GCF). It follows South Korea, which pledged US$40 million in 2013.
Indonesia’s commitment was announced at this week’s three-day meeting in Bali, Indonesia, where diplomats are joining to finalize an action plan for how governments will pledge and spend US$100 billion annually to help developing countries cope with climate change.
Indonesia’s deputy minister of finance, Bambang Brodjonegoro, announced Indonesia’s pledge on the second day of the event, hoping to spur further investments.
The GCF, which was set up by the United Nations in 2010, acts as a channel for governments to help to developing countries cope with the impacts of climate change. Funds will support activities including the design of resilient cities and expansion of clean-energy power generation.
Under the GCF fund, developed countries have promised to donate $100 billion each year starting in 2020 – making Indonesia’s pledge rather significant. Developed countries that have already contributed include Germany, Australia, Finland, Denmark, Norway and the Netherlands.
The final action plan on how the funds will be spent is being drawn up this week and will be presented at the next major climate summit in September.