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Politics

US to contribute billions to UN ‘Green Climate Fund’ for poor countries


President Joe Biden’s administration is pledging an additional $3 billion to help developing countries fight climate change, the White House announced Saturday.

The allocation will go to the United Nations Green Climate Fund and will be pledged by Vice President Kamala Harris at the COP28 summit in Dubai, according to the White House. The US commitment will bring the fund to its highest level yet, while other countries such as France, the United Kingdom, Germany and Japan have already made similar commitments, totaling $9.3 billion, according to Bloomberg, which was first to report the funding.

The United States reached $5.8 million in international funding to combat climate change in 2022, up from $1.5 billion allocated in 2021, according to the State Department. The Biden administration will surpass $9.5 billion this year, and the president already plans to surpass $11 million in 2024. (RELATED: Biden Admin Pledges Millions to International ‘Climate Reparations’ Fund)

U.S. Secretary of State Antony Blinken addresses the Transforming Food Systems in the Face of Climate Change event on the sidelines of the COP28 climate summit at the Dubai Expo on December 1, 2023. (SAUL LOEB/POOL/AFP via Getty Images)

Rich countries are expected to commit $100 billion a year to help developing countries fight climate change, a commitment that began in 2020, according to Bloomberg.

The Biden administration’s commitment follows a trend of funding green energy initiatives that the president has focused on during his term, including his flagship climate legislation, the Inflation Reduction Act (IRA ). The IRA approved $750 billion in new spending, $370 billion of which went to Biden’s green energy initiatives aimed at curbing climate change.

The United States pledged more than $17 million for an international “climate reparations” fund at Thursday’s summit. The fund also aims to help developing countries combat the impacts of climate change.

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