07/31/2024 | News release | Archived content
Joe Thwaites/NRDC
The Green Climate Fund (GCF) is the world's largest multilateral fund dedicated to helping developing countries address the climate crisis.
Created in 2010, the Fund had its initial resource mobilization (IRM) in 2014 receiving $10.3 billion in pledges from 45 countries. The GCF underwent its first replenishment (GCF-1) in 2019, garnering a further $10 billion in pledges from 32 countries.
The GCF has a number of innovative design features, and is key to the grand bargain behind the Paris Agreement: that all countries need to do much more to tackle the climate crisis, but that the poorest countries, who did the least to cause the problem and are hit first and worst by its impacts, require support from the richest and highest polluting countries.
In 2023 the GCF will be having its second replenishment (GCF-2). The formal pledging conference will take place in October but as in 2014 and 2019 many countries are likely to announce their pledges in advance.
The following pledges to the second replenishment have been announced so far:
At the high-level pledging conference on 5 October, Australia, Italy and Sweden all announced their intention to make pledges to the second replenishment, without announcing a specific amount at that point.
To help assess the state of play on the GCF's second replenishment, NRDC is tracking the pledges and will provide updates as new announcements come in throughout the year.
Latest update: 31 July 2024.
With thanks to Germanwatch for tracking the 5 October pledging conference announcements.
Figure 2
Joe Thwaites/NRDC
Figure 3
Joe Thwaites/NRDC
Country (in order of total pledged) | Initial Resource Mobilization (IRM) 2014 | First Replenishment (GCF-1) 2019 | Second Replenishment (GCF-2) 2023 | Change IRM to GCF-1 | Change GCF-1 to GCF-2 | Total Pledged (U.S. dollars) | |||
Pledge currency | U.S. dollars | Pledge currency | U.S. dollars | Pledge currency | U.S. dollars | ||||
United States | $3,000.0 | $3,000.0 | $3,000.0 | $3,000.0 | -100% | $6,000.0 | |||
United Kingdom | £720.0 | $1,211.0 | £1,440.0 | $1,851.9 | £1,622.7 | $2,000.0 | 100% | 13% | $5,062.9 |
Germany | € 750.0 | $1,003.3 | €1,500.0 | $1,689.8 | €2,000.0 | $2,205.7 | 100% | 33% | $4,898.8 |
France | €750.0 | $1,036.8 | €1,548.0 | $1,794.7 | €1,610.0 | $1,781.8 | 100% | 4% | $4,613.3 |
Japan | ¥154,028.7 | $1,500.0 | ¥164,870.1 | $1,521.2 | ¥165,000.0 | $1,224.2 | 7% | 0% | $4,245.4 |
Sweden | 4,000.0 kr | $581.2 | 8,000.0 kr | $852.5 | TBC | 100% | $1,433.7 | ||
Norway | 1,689.1 kr | $272.2 | 3,600.0 kr | $434.2 | 3,200.0 kr. | $316.6 | 113% | -11% | $1023.0 |
Italy | €250.0 | $334.4 | €300.0 | $337.9 | €300.0 | $324.1 | 20% | 0% | $996.4 |
Canada | CA$300.0 | $277.0 | CA$300.0 | $230.1 | CA$450.0 | $339.4 | 0% | 50% | $846.5 |
Republic of Korea | $100.0 | $100.0 | $200.0 | $200.5 | $300.0 | $301.8 | 100% | 50% | $602.3 |
Spain | €120.0 | $160.5 | €150.0 | $176.5 | €225.0 | $252.8 | 25% | 50% | $589.8 |
Denmark | 400.0 kr. | $71.8 | 800.0 kr. | $126.0 | 1,600.0 kr. | $239.5 | 100% | 100% | $437.3 |
Netherlands | €100.0 | $133.8 | €120.0 | $140.1 | €140.0 | $157.2 | 20% | 17% | $431.1 |
Switzerland | $100.0 | $100.0 | $150.0 | $155.5 | $150.0 | $155.5 | 50% | 0% | $411.0 |
Belgium | €76.9 | $102.3 | €102.2 | $119.5 | €150.4 | $1678.4 | 33% | 47% | $390.2 |
Austria | €26.0 | $34.8 | €130.0 | $152.5 | €160.0 | $180.1 | 400% | 23% | $367.4 |
Finland | €80.0 | $107.0 | €100.0 | $114.9 | €60.0 | $66.2 | 25% | -40% | $288.1 |
Australia | AU$200.4 | $187.3 | AU$50.0 | $34.0 | -100% | $221.3 | |||
Luxembourg | €35.0 | $46.8 | €40.0 | $46.3 | €50.0 | $56.0 | 14% | 25% | $149.1 |
Ireland | €8.0 | $10.7 | €16.0 | $18.7 | €40.0 | $44.8 | 100% | 150% | $74.2 |
New Zealand | NZ$3.0 | $2.6 | NZ$15.0 | $10.6 | NZ$24.0 | $15.9 | 400% | 60% | $29.1 |
Russian Federation | $3.0 | $3.0 | $10.0 | $10.5 | 233% | $13.5 | |||
Monaco | €1.8 | $2.3 | €3.8 | $4.4 | €3.3 | $3.7 | 111% | -13% | $10.4 |
Mexico | $10.0 | $10.0 | -100% | $10.0 | |||||
Czechia | 110.0 Kč | $5.3 | $4.0 | $4.1 | -100% | 100% | $9.4 | ||
Portugal | €2.0 | $2.7 | €1.0 | $1.2 | €4.0 | $4.5 | -50% | 275% | $8.4 |
Iceland | $1.0 | $1.0 | $2.8 | $2.9 | $3.6 | $3.7 | 180% | 29% | $7.6 |
Slovakia | $2.0 | $2.0 | €2.0 | $2.3 | €2.2 | $2.5 | 15% | 10% | $6.8 |
Colombia | $6.0 | $6.0 | -100% | $6.0 | |||||
Peru | $6.0 | $6.0 | -100% | $6.0 | |||||
Hungary | 1,000.0 Ft | $4.3 | 200.0 Ft | $0.7 | 100.0 Ft | $0.3 | -80% | -50% | $5.3 |
Poland | 0.4 zł | $0.1 | $3.0 | $3.2 | 3100% | $3.3 | |||
Slovenia | €1.0 | $1.2 | €1.5 | $1.7 | 50% | $2.9 | |||
Estonia | €1.0 | $1.3 | €1.0 | $1.1 | -100% | $2.4 | |||
Malta | €0.4 | $0.6 | €0.8 | $0.9 | €0.4 | $0.5 | 100% | -50% | $2.0 |
Panama | $1.0 | $1.0 | -100% | $1.0 | |||||
Vietnam | $1.0 | $1.0 | -100% | $1.0 | |||||
Liechtenstein | 0.1 CHF | $0.1 | 0.3 CHF | $0.3 | $0.4 | $0.5 | 200% | 67% | $0.9 |
Indonesia | $0.3 | $0.3 | $0.5 | $0.5 | 67% | $0.8 | |||
Cyprus | €0.4 | $0.5 | -100% | $0.5 | |||||
Latvia | €0.4 | $0.5 | -100% | $0.5 | |||||
Chile | $0.3 | $0.3 | -100% | $0.3 | |||||
Bulgaria | €0.1 | $0.1 | $0.1 | $0.1 | 0% | $0.2 | |||
Mongolia | $0.1 | $0.1 | $0.1 | $0.1 | -100% | $0.2 | |||
Romania | $0.1 | $0.1 | €0.0 | $0.1 | -50% | $0.2 | |||
Israel | $0.1 | $0.1 | $0.1 | ||||||
Lithuania | €0.1 | $0.1 | -100% | $0.1 | |||||
TOTAL | $10,322 | $10,002 | $12,842 | $33,166 |
Sources: GCF (2023) Status of Pledges (IRM, GCF-1 and GCF-2); second replenishment pledges added as announced.
Note: GCF-2 pledges as of 8 December 2023. At the first consultation meeting for the second replenishment, participants agreed on using the six-month period of 1 January 2023 through 30 June 2023 to calculate reference exchange rates for GCF-2. Converted pledges in U.S. dollars to GCF-2 use these reference exchange rates. A notional credit has been applied to the pledges made by Contributors who have indicated to make payments in advance of the standard schedule. This credit is calculated as the difference between the present value of the standard encashment schedule and the contributor's encashment schedule.