United States Pledged $3 Bln To Green Climate Fund
Date
12/2/2023 3:10:43 PM
(MENAFN- AzerNews) The United States has pledged $3 billion to the Green Climate
Fund, Vice President Kamala Harris said on Saturday in Dubai at the
U.N. COP28 climate summit, Azernews reports
The fund, with more than $20 billion in pledges, is the largest
international fund dedicated to supporting climate action in
developing countries.
The latest pledge, which Reuters was first to report, would be
additional to another $2 bln previously delivered by the United
States.
Sources said the pledge was subject to the availability of
funds. The Politically divided U.S. congress needs to authorize the
funding.
Harris announced the pledge in her address to the summit.
"Today I am also proud to announce a new $3 billion pledge to
the Green Climate Fund which helps developing countries invest in
resilience, clean energy, and nature-based solutions," she
said.
The fund's facilitators said in October that the current second
round of replenishments had brought in about $9.3 bln in pledges to
fund projects in climate-vulnerable counties between 2024 and
2027.
Even so, pledges so far represent a fraction of roughly $250 bln
that developing countries would need every year by 2030 just to
adapt to a warmer world, according to the United Nations. In
addition to supporting climate adaptation, the fund also finances
projects to help countries shift to clean energy.
Harris, who is representing the United States at COP28 in place
of President Joe Biden, is part of a U.S. delegation that also
includes climate envoy John Kerry and dozens of senior
administration officials and cabinet members.
"It was important for both the president and vice president to
ensure that a leader from the United States was at COP," an
official said, adding that Harris wanted to“make sure we are
telling the world the story of progress that we have made in the
U.S."
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