US puts more than €2.75 billion in climate finance for developing countries

02 dec 2023 om 13:31 Update: een uur geleden

The United States contributes approximately 2.76 billion euros to the Green Climate Fund. This climate fund is designed for activities in developing countries. Vice President Kamala Harris announced the donation on Saturday at a climate conference in Dubai.

This is the first time in a long time that America is putting money back into the fund. To date, the country has disbursed approximately €1.84 billion. The 2.76 billion euros must still be approved by the US Senate, which is dominated by President Joe Biden’s Democratic Party.

The Green Climate Fund currently has a total of around €18.37 billion. Many countries have contributed money to this fund. It is the largest international fund supporting developing countries.

Developing countries can use the money to reduce greenhouse gas emissions, prepare for climate disasters and set up energy transition programs.

Rich countries have pledged to donate around €91.86 billion annually to the fund between 2020 and 2025. That amount has not been reached in recent years. According to the United Nations, developing countries need about 230 billion euros a year for climate action.

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29 nov 2023 om 06:58

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US puts more than €2.75 billion in climate finance for developing countries | Climate

US puts more than €2.75 billion in climate finance for developing countries | Climate

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