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United States announces $3 million for largest climate fund | COP28: climate summit in Dubai

Natasha Kumar By Natasha Kumar Dec2,2023

The United States announces $3 million for the most large climate fund | COP28: climate summit in Dubai

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The American vice-president announced a new contribution from her country to the Green Climate Fund, after nearly a decade of scarcity from Washington.

Agence France-Presse

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The Vice President of States -United States, Kamala Harris, announced on Saturday at COP28 in Dubai a contribution of three billion dollars to the Green Climate Fund, making up for years of non-contribution from the richest country in the world.

I am proud to announce a new commitment of $3 billion to the Green Climate Fund, which helps developing countries invest in resilience, clean energy and nature-based solutions, said Kamala Harris , dispatched to the 28th UN climate change conference in place of President Joe Biden.

Washington's last pledge, also for $3 billion, dates back to 2014 and came from then-Democratic President Barack Obama, while many other countries have renewed their contributions in the meantime.

We are at a pivotal moment. Our collective action, or worse, our inaction, will impact billions of people for decades to come.

A quote from Kamala Harris, Vice President of the United States

This announcement, even if it is conditional on the perilous approval of the American Congress, was a long-awaited signal to hope to ease tensions between the North and the South on international finance, which constitute a major node in the UN negotiations on the fight against climate change.

COP28: climate summit in Dubai

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COP28: climate summit in Dubai

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If the promise is kept, the United States would become the largest contributor to the fund in absolute value with $6 billion. But the United Kingdom (5.1 billion, according to the NGO NRDC), Germany (4.9 billion) and France (4.6 billion) contribute much more, in proportion to their population.< /p>Open in full screen mode

COP28 is being held in Dubai from November 30 to December 12.

Born in 2010, the Green Climate Fund is the largest in operation today.

It finances solar panels in Pakistan as well as agricultural projects in the Philippines, or any other related initiatives aimed at helping developing countries do without fossil fuels, or to adapt to a more dangerous climate.

According to the fund, more than $4 billion has been disbursed to date and 13 .5 billion committed. But his ambitions are greater: he wants to boost his capital, currently $17 billion, to $50 billion by 2030.

Since the Paris Agreement in 2015, it has played a key role in fulfilling part of the pledge by developed countries to provide $100 billion a year in climate aid, a promise that has not yet been met. #x27;was probably reached only last year, and became a red rag in international negotiations.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my 1-800-268-7116

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