Additional private sector finance could be mobilised if REDD+ were eventually to be included in the mandatory carbon market. According to Climate Change Update (2011), the proportion of adaptation funds in total climate change finance increased sharply from 8% (USD 587 million) to 21% (USD 957 million) between 2010 and 2011, and adaptation finance is expected to continue to increase in coming years. Established in 2010, the GCF was designed as a comprehensive multilateral financing mechanism to support climate action in developing countries. While the Parties have pledged to mobilise USD 100 billion in long-term financing per year by 2020, the extent to which the GCF will be used to channel this finance is still unclear.