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Sunday, July 21, 2024

US Commits $3 Billion to Green Climate Fund at COP28

In Dubai at the UN COP28 climate summit, Vice President Kamala Harris announced the US’s commitment of $3 billion to the Green Climate Fund, which supports climate action in developing nations and already holds over $20 billion in pledges. This additional pledge, reported first by Reuters, supplements a previous $2 billion contribution by the US. Approval from the politically divided US Congress is required, contingent on fund availability. Harris, in her summit address, expressed pride in the new pledge, emphasizing its support for developing countries in resilience, clean energy, and nature-based solutions. The fund’s current replenishment round garnered around $9.3 billion in pledges for climate projects from 2024 to 2027. Despite progress, these commitments fall short of the UN’s estimate of the $250 billion needed annually by 2030 for climate adaptation in developing nations. The US delegation, including climate envoy John Kerry, attended COP28, with Harris emphasizing the importance of showcasing US progress.

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