U.N. GREEN CLIMATE FUND GOES INTO EFFECT, STARTS IDENTIFYING PROJECTS
Japan entered into a contribution agreement with the United Nation's Green Climate Fund on May 21, pushing the fund past the halfway mark needed for it to go into effect. Though Japan's agreement came nearly a month after the deadline, the country's $1.5 billion pledge brought the fund's total to $5.47 billion, well over the dollar amount necessary for the fund to start allocating resources to projects. The fund plans to approve the first round of projects in November 2015. Thirty-three governments have pledged over $10 billion to the fund, and twenty-one have signed contribution agreements. For the full story, see http://uk.reuters.com/article/2015/05/21/us-climate-change-finance-idUKKBN0O624Q20150521.