Spain will allocate 150 million euros to the Green Fund for Climate between 2019 and 2023

The Council of Ministers has approved an agreement that will expand Spain’s contribution to the Green Climate Fund with a total of 150 million euros between 2019 and 2023, as a sign that the Government is “fully committed” to the fight against climate change. During the press conference after the Council of Ministers, the acting minister spokeswoman, Isabel Celaá, stressed that climate change is “one of the great contemporary, social and economic challenges” and it is a “global challenge” with which Spain is “fully committed”. For this reason, Celaá has justified that “to reinforce this challenge” the Green Climate Fund was created, of which Spain has been part since 2010, with the aim of financing projects in this area in countries with developing economies to fight against climate change. To date, as recalled by the acting minister, Spain had committed 120 million euros until 2020 but this Friday, the Government has agreed to “improve its commitment” to this fund, in which it will disburse 150 million euros between 2019 and 2023. Of these, he pointed out that in 2019 78 million euros have been advanced that, in his opinion, show that Spain “firmly” supports the Green Climate Fund and, in addition, is “very interested” in emerging economies aligning with the response posed by the fight against climate change.

Source: The Vanguard