UN Climate Fund Agrees Rules, Paving Way to Raise Funds
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The Green Climate fund set up as a result of United Nations climate-treaty talks to help finance projects that reduce emissions in poorer nations agreed on a set of rules, paving the way for initial capital to be raised.
The design of the fund, how it will raise funds and spend them, was completed at a meeting in Songdo, South Korea, today, the UN Framework Convention on Climate Change, which stewards the UN talks, said today in an e-mailed statement.