Over $6 billion pledged for climate investments

2 Oct 2008 | Author: Jeanette Wiemers, newsbriefs editor | Print version | Send to a friend

Investments will fund emissions-reduction projects in developing countries

The World Bank’s Climate Investment Funds received pledges totaling over $6.1 billion last week from 10 industrialized countries: Australia, France, Germany, Japan, The Netherlands, Norway, Sweden, Switzerland, the United Kingdom, and the United States. Designed to provide funding for developing countries to adapt to climate change and reduce their greenhouse gas emissions, the funds will be dispersed as both grants and loans, and projects receiving funding are expected to be announced in early 2009.

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