Switzerland Renews Funding for Climate Action

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Switzerland Renews Funding for Climate Action

Posted by: Baris Karapinar
Category: ESG News

Switzerland will donate CHF 135 million to the Green Climate Fund (GCF) from 2024 to 2027. This funding, confirmed by the Federal Council on April 10, 2024, aims to help developing countries tackle climate change. The GCF, the largest global fund of its kind, supports projects that reduce greenhouse gas emissions and enhance climate adaptation.

The contribution is part of Switzerland’s efforts under the United Nations Framework Convention on Climate Change and the Paris Agreement. It reflects Switzerland’s ongoing commitment to international climate finance and fulfills its duty to assist low-income countries in their environmental initiatives.

Since its inception, the GCF has funded over 250 projects in 130 countries, benefiting over a billion people and reducing CO2 emissions by about 3 billion tonnes. This financial support from Switzerland helps advance global efforts towards the goals of the 2030 Agenda for Sustainable Development, focusing on sustainable climate actions in vulnerable nations.

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