thelocal.fr Despite France's stagnant economy and record unemployment, its president announced on Tuesday Paris would contribute up to $1 billion to the UN's fund to help poorer nations finance climate change reform. The GCF faces a key test at the UN summit as it looks to the leaders of the industrialized world to stump up billions of dollars to fill its underflowing coffers. "France will contribute up to $1 billion in the coming years," Hollande told the summit hosted by Secretary General Ban Ki-moon. Previously only Germany had come up with a substantial commitment, pledging around $1.0 billion dollars in July. The South Korea-based fund was born out of the UN climate summit in Copenhagen in 2009, when developed countries made a political commitment to mobilize $100 billion annually for developing countries by 2020. to read more: thelocal.fr
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