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Don’t Let Arcane Climate Accounting Shortchange Poor Countries on Adaptation

At a glance, it would seem that if you want to tackle climate finance, you ought to look to institutions with “climate” in the name. Yet, whatever the longer-term potential of the Green Climate Fund (GCF), the reality is that it has committed just $10 billion and disbursed a meager $1.7 billion in climate financing since it commenced operations in 2015. Of these total commitments, just $2.5 billion have gone toward adaption, suggesting that actual disbursement of adaption funds number in the low hundreds of millions.