German leader Olaf Scholz has pledged 2 billion euros ($2.2 billion) to the UN's flagship climate fund for emissions reduction and climate change adaptation projects around the world. The Green Climate Fund was established in 2010 to distribute money from rich countries to climate projects in low- and middle-income countries. It has spent about $12 billion to finance climate projects so far, but recently warned of cuts due to a lack of resources. This pledge is a third higher than Germany's previous contribution to the fund. Once confirmed, the money will support climate investment between 2024 and 2027. Scholz's pledge at the Petersberg climate dialogue in Berlin today sets the bar for other rich countries ahead of the fund's regular donor conference in the German city of Bonn in October. "I appeal to many traditional and possible new donors - let's continue this success story, it's more important than ever," said Scholz. (Author: Joe Lo)