The Vice President of the United States announced this Saturday a three billion dollar contribution to the Green Climate Fund during the 28th United Nations Climate Change Conference (COP28) in Dubai.
“I am proud to announce a new $3 billion contribution to the Green Climate Fund, which helps developing countries invest in sustainability, clean energy and green solutions,” said Kamala Harris, who attended COP28 replacing President Joe Biden.
Washington’s last pledge, also worth $3 billion, was made in 2014 by Democratic President Barack Obama, while many other countries renewed their contributions.
“We are at a decisive moment. Our collective actions, or worse, our inaction, will have consequences for billions of people for decades to come,” Kamala Harris said.
This contribution, although contingent on the approval of the United States Congress, was a welcome signal in hopes of easing North-South tensions over international finance, an important issue in United Nations (UN) negotiations. combating climate change.
If the promise is fulfilled, the US will become the largest contributor to the fund in absolute terms, with six billion dollars, but the UK ($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.
The Green Climate Fund, created in 2010, is the largest currently operating and funds everything from solar panels in Pakistan to agricultural projects in the Philippines, as well as other initiatives aimed at helping developing countries transition away from fossil fuels or adapt to more dangerous climate.
According to this fund, more than four billion dollars have been disbursed to date and 13.5 billion have been allocated, but its ambitions are even greater.
The idea is to increase capital from $17 billion to $50 billion by 2030.
Since the Paris Agreement was signed in 2015, the Fund has played a key role in meeting part of developed countries’ commitments to provide $100 billion a year in climate aid.
LIFR // JMR
Lusa/The End
Author: Lusa
Source: CM Jornal
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