DUBAI – The United States will contribute $3 billion to a global climate fund, Vice President Kamala Harris announced at the UN’s COP28 conference on Saturday.
This is the first US pledge to a climate fund since 2014. The last US contribution to the fund for developing countries was made under then President Barack Obama, who committed $3 billion in 2014.
Addressing the climate summit in Dubai, United Arab Emirates (UAE), Harris said, “Today, we are demonstrating through action how the world can and must meet this crisis.”
The $3 billion pledged by Harris must be approved by the US Congress and this amount will go into the Green Climate Fund (GCF), which was set up in 2010. US President Joe Biden sent Harris in his place to COP28.
The Green Climate Fund (GCF), the world’s biggest climate fund, funnels grants and loans for adaptation and mitigation projects in developing countries, such as solar panels in Pakistan or flood management in Haiti.
Prior to the announcement made by the US vice president, $13.5 billion had been pledged to the GCF.
It was an honor to join #COP28 in Dubai today.
I am optimistic that with ambition and bold action, we will continue to tackle the climate crisis and build a cleaner, healthier, more prosperous world. pic.twitter.com/6AWB2BSdlG
— Vice President Kamala Harris (@VP) December 2, 2023
The failure of wealthy nations to fulfill financial pledges to help developing nations cope with climate change has fuelled tensions and mistrust at climate negotiations.
Today at #COP28, the United States joins more than 115 nations in a commitment to double energy efficiency and to triple renewable energy capacity by 2030. pic.twitter.com/mGmA02XaRA
— Vice President Kamala Harris (@VP) December 2, 2023
Developing countries least responsible for climate change are seeking support from richer polluting nations to adapt to the increasingly ferocious and expensive consequences of extreme weather, and for their transitions to cleaner energy sources.
President Biden and I are demonstrating through action how the world can and must meet the climate crisis. #COP28 pic.twitter.com/ZOchb2T2Nq
— Vice President Kamala Harris (@VP) December 2, 2023
The GCF plays a part in a separate promise by rich countries to supply $100 billion of climate financing to poorer nations annually. But that pledge was only likely met in 2022, two years late.
Pakistan launches National Adaptation Plan to tackle climate change
In a related development on the margins of COP28, US Ambassador to Pakistan Donald Blome joined Pakistan’s Caretaker Prime Minister Anwaarul Haq Kakar to launch Recharge Pakistan, a $77.8 million partnership to enhance Pakistan’s climate and water resilience.