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December 10, 2020 | 3:31 pm
Yannick Glemarec, head of the Green Climate Fund, said it was essential to align funding for COVID-19 recoveries, climate action, and international development so that the money could achieve the largest possible impact in terms of curbing global warming and tackling poverty. Image via PhilStar
BARCELONA â Many developing nations are under huge financial stress from the COVID-19 crisis, making it more important than ever that they receive the funding promised by rich nations to help them tackle climate change, said the head of the Green Climate Fund (GCF).
Yannick Glemarec said the poorer countries the fund supports lack the financial means to jumpstart their economies and are struggling to access capital, while their revenues from taxes, commodity exports, and remittances have plunged.