With Surprise Australian Pledge, Green Climate Fund Hits Milestone

By Ari Phillips

With global negotiators heading into the final stretch of this year’s U.N. climate summit in Lima, Peru, there is some hard news to report: the Green Climate Fund has reached its goal of raising $10 billion. Intended to help support poorer countries in their effort to develop in a low-carbon manner, a surprise pledge from Australia helped push the fund over the mark.

As recently as the G20 meeting in Australia last month, Australian Prime Minister Tony Abbott had resisted giving to the fund, even after the U.S. pledged $3 billion at the event — the largest pledge yet.



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