A week after U.S. President Obama announced his $3 billion commitment to the Green Climate Fund, major contributions have rushed in to a multilateral fund for climate change projects that has, until now, been more of an idea than a reality.
At Thursday’s pledging conference, 30 countries — including the United States — formally committed to provide $9.3 billion to GCF.
Organizations and implementing agencies now have to grapple with what it will mean to partner with the GCF, what kind of regulations grantees are likely to face, and what kinds of projects the fund will support. Here’s what you need to know: