<p>The UK is committed to the goal of jointly mobilising $100 billion per year by 2020 from a variety of sources, alongside other developed countries. The $100 billion a year commitment is not directly linked to funding for the Green Climate Fund (GCF). The $100 billion could flow through a variety of channels—both multilateral and bilateral.</p><p>The UK is scaling up our international climate finance towards this goal, to enable developing countries to move on to low carbon growth paths and adapt to the impacts of climate change. We will provide £2.9 billion of international climate finance from April 2011-March</p><p>2015 through our International Climate Fund. This puts the UK on track to deliver its fair share of the $100 billion.</p><p>We hope that the GCF will operate in a way which will attract significant funding. We are confident that the framework agreed in Durban sets the GCF on the right track to do so. The UK will make a decision on contributing to the GCF once the design is complete and if it demonstrates that it is an effective fund that will deliver substantial results and excellent value for money.</p><p>A range of sources will be required to meet the $100 billion goal. Alongside direct budget contributions, we consider private finance, the Multilateral Development Banks, carbon markets and revenues from international transport measures to be the most promising sources of climate finance. We are working with other countries through the UNFCCC and G20 to consider how to effectively mobilise sources of finance. I am therefore pleased the Finance Ministers of the G20 welcomed the report of their study group on climate finance in Mexico City, and have asked the study group to undertake further work next year.</p><p>The EU is currently developing its position on climate finance for Doha, which we expect the Council of Economics and Finance Ministers to agree at their meeting on 13 November.</p>