U.S. Commits $3 bn to Green Climate Fund at COP28

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United States Vice President Kamala Harris, addressing the U.N. COP28 climate summit in Dubai, declared a new $3 billion commitment to the Green Climate Fund from the United States. This contribution, in addition to a prior $2 billion allocation, underscores America’s commitment to supporting climate action in developing nations.

The Green Climate Fund, boasting pledges exceeding $20 billion, remains the largest international fund dedicated to aiding climate-related initiatives in developing countries. Harris emphasized that this fresh pledge aims to bolster investments in resilience, clean energy, and nature-based solutions for these nations.

However, the funding hinges on approval from a politically divided U.S. Congress, requiring authorization despite its significance in global climate efforts. Harris, part of a U.S. delegation including climate envoy John Kerry and numerous high-ranking officials, highlighted the importance of American leadership at COP28.

While the fund’s recent round of replenishments secured approximately $9.3 billion, it falls short of the substantial financial requirements projected by the United Nations. Developing countries anticipate needing around $250 billion annually by 2030 to adapt to the escalating impacts of climate change. The Green Climate Fund not only aids climate adaptation but also finances endeavors facilitating the transition to clean energy.

Harris’s presence underscores the U.S. commitment to climate action, aiming to showcase the progress made in the country and assert its dedication on the global stage.