At the 17th Conference of the Parties of the Climate Framework Convention (UNFCCC) in Durban in December 2011, the foundation was laid for establishing the Green Climate Fund (GCF). The fund is aimed at financing measures for the reduction of emissions and adaptation to climate change in developing and emerging countries. A double-digit sum in the billions is to be made available annually up to 2020. For the period after 2020 the industrialised countries have pledged to mobilise 100 billion US dollars annually. By then most of the financial resources will be directly managed by the fund.