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US contributes $1 bn to GCF to help developing countries in climate crisis
The US announced a $1 billion contribution to the Green Climate Fund (GCF), the primary international vehicle for supporting developing countries in their efforts to respond and build resilience to the climate crisis.
This new contribution brings US government funding for the GCF to a total of $2 billion out of the $3 billion pledged by the Obama administration in 2014.
The Biden administration also announced actions to halt deforestation and conserve critical carbon sinks, including through the Forest and Climate Leaders’ Partnership announced at COP27 and the mobilization of major new financing such as through the Amazon Fund.
In response, World Wildlife Fund (WWF) issued the following statement from Carter Roberts, President and CEO “This move by the Biden administration brings America closer to fulfilling our climate pledge to developing countries. The GCF helps the most vulnerable communities on the planet build their resilience to droughts, famines and floods. It helps them protect forests and food security, and transition away from carbon-intensive sources of energy to clean ones.”
“Today’s announcement from President Biden effectively doubles the US contribution to the GCF to date, reaffirming America’s desire to play a global leadership role in confronting the climate crisis. It also takes steps to mobilize significant new public and private sector finance to help halt tropical deforestation in the Amazon and other critical ecosystems.”
“We have much further to go to make good on not just our past commitments but also the future ones that science requires. It’s time to recognize that being a global leader in this century means being a climate leader. Many, if not all, of America’s friends and allies see climate change as the key issue of our time. And developing countries grappling with the worst climate impacts are looking to developed nations such as the US to help provide them with resources they need to confront those impacts, including through the GCF. We need to show up for them if we are to expect them to do the same for us on our biggest priorities. Today, the Biden administration has once again demonstrated its determination to do just that.”
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