France ups climate finance pledge to €5bn

Jessica Shankleman
clock

Francois Hollande calls on other countries to help meet UN's $100bn climate funding goal ahead of critical talks in Paris at the end of this year

France has become the latest country to pledge billions of dollars of funding to help some of the world's poorest countries cope with the worst impacts of climate change.

The host of this year's Paris climate change talks will increase its climate finance commitment from €3bn to €5bn (US$5.6bn) a year by 2020, said President Francois Hollande at the UN General Assembly in New York yesterday.

He said the new money would be offered as grants rather than loans to poor and vulnerable countries.

"We have to make sure that emerging economies, developing countries can be sure they will be helped," Hollande said.

He also called on other countries to set out their funding plans ahead of the Paris climate talks, when the UN is hoping to deliver on a previously agreed target to mobilise $100bn of climate finance a year from 2020.

"Between now and Paris in two months' time, we will have to continue mobilising finance through the World Bank, development banks, private banks and states to make sure we do reach that level," said Hollande.

France's pledge comes after the UK on Sunday announced it would increase its climate funding to £5.8bn between 2016 and 2021, which represents a doubling on the pledge from the past five years.

China last week also promised $3.1bn through a new South-South climate co-operation fund, fuelling hopes that the Paris Summit may yet deliver a breakthrough on the contentious topic of climate funding.

This article is part of BusinessGreen's Road to Paris hub, hosted in association with PwC

More on Policy

Iran War: Report calls for summer of electrification to help tackle fossil fuel shock

Iran War: Report calls for summer of electrification to help tackle fossil fuel shock

As a new analysis suggests 'back-to-back' energy crises have cost households £4,800 since 2021, Nesta urges government to fast-track policies that can curb electricity prices

James Murray
clock 27 April 2026 • 6 min read
Government urged to consider one-off soil improvement scheme to offset Iran war input costs

Government urged to consider one-off soil improvement scheme to offset Iran war input costs

CAAV adviser Jeremy Moody warns arable farmers may decide not to plant crops for harvest 2027

Jane Thynne, Farmers Guardian
clock 24 April 2026 • 2 min read
The government's push to decouple UK electricity and gas prices is long overdue

The government's push to decouple UK electricity and gas prices is long overdue

If Miliband wants to leave an enduring green legacy, lowering essential costs for those most in need must be his primary aim, writes Bright Blue's Cyril Davydenko

Cyril Davydenko, Bright Blue
clock 24 April 2026 • 4 min read