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First Boost to CCS Activities from Green Climate Fund
Date posted:
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Post Author
ifrfadmin
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The Green Climate Fund, the world’s largest climate finance body for developing countries, has awarded funding to the University of West Indies and the University of Trinidad and Tobago for carbon capture and storage (CCS) activities.
The grant represents the Green Climate Fund’s first contribution to CCS and will fund national CCS readiness. The project includes assessing the storage potential in deep saline formations to produce a national storage atlas as part of a broader project with Suriname.
In 2023 the Green Climate Fund received a record USD 12.8 billion replenishment including six pledges made during the United Nations Climate Change Conference (COP28) in Dubai. The organisation has a portfolio of USD 13.5 billion (USD 51.9 billion including co-financing) to deliver transformative climate action in more than 120 countries.