Paris climate summit

France ups climate finance pledge to €5bn in 2020

That was announced by President Francois Hollande at the UN General Assembly in New York on Monday, in a bid to leverage more action.

The host nation of this December’s critical Paris climate summit will also increase the amount available as grants, and not as loans, he said.

“We need developed countries to take on financial commitments… we have to make sure that emerging economies, developing countries can be sure they will be helped.”

Hollande noted that the developed world had yet to deliver on its promise to raise US$100 billion of climate finance in 2020.