Prime Minister Petteri Orpo (NCP) said that Finland will offer three million euros to the new fund aimed at helping developing countries achieve climate targets.
Orpo made the announcement on Saturday at the UN Climate Change Conference (COP28) in Dubai, United Arab Emirates, where the fund was established.
He said Finland is committed to helping developing countries meet global climate targets. He also warned that climate action is urgent because targets are slipping away.
Orpo said it was already clear that the world was not on track to meet its goal of limiting global warming to 1.5 degrees Celsius, as the climate has already warmed by 1.2 degrees.
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Finland signs on for more nuclear power
Finland also joined a petition by over 20 UN countries calling for a tripling of nuclear capacity by 2050 in an attempt to meet climate targets.
The increase in nuclear power has raised concerns among various environmental organisations, but it is also believed to be a key energy source on the road to carbon neutrality.
"Science, facts and evidence show that carbon neutrality cannot be achieved without nuclear power," US Special Presidential Envoy for Climate John Kerry said at the Dubai conference.
The countries behind the petition are the United States, Japan, Ghana, the United Kingdom, Bulgaria, Canada, the Czech Republic, Finland, France, Hungary, South Korea, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine and the United Arab Emirates.
Finland's most recently built nuclear power plant, Olkiluoto 3, has faced setbacks in recent weeks. These issues have put its electricity production offline.
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