Option 1: [The mobilization of climate finance [shall][should][other] be scaled up [in a predictable and transparent manner] [beyond previous efforts] [from USD 100 billion per year] from 2020[, recognizing the important role of the Green Climate Fund in the scaling up of financial resources for the implementation of this agreement, as well as other multilateral mechanisms and other efforts].] Option 2: [The provision and mobilization of financial resources by developed country Parties and other developed Parties included in Annex II shall represent a progression beyond their previous efforts towards achieving short-term collective quantified goals for the post 2020 period to be periodically established and reviewed. Financial resources shall be scaled up from a floor of US$100 billion per year, including a clear burden-sharing formula [among them], and in line with needs and priorities identified by developing country Parties [including Parties whose special circumstances were recognized by COP decisions] in the context of contributing to the achievement of the [objective][purpose] (Article 2/XX) of this Agreement.
Report of the GCF and Guidance to the GCF: GCF Board Co-Chair Henrik Harboe (Norway) highlighted key milestones including: nomination of 136 National Designated Authorities; accreditation of 20 entities to channel finance into action on the ground; and signed contribution agreements representing 58% of the initial US$100 billion in pledges.