Dubai, UAE: In a significant move at the COP28 climate conference in Dubai, US Vice President Kamala Harris announced a $3 billion contribution to the Green Climate Fund (GCF). This marks the first such pledge from the United States to the fund since 2014.
Harris, addressing the conference, stated, “Today, we are demonstrating through action how the world can and must meet this crisis.” The pledged funds, pending approval by the US Congress, will support the GCF, established in 2010.
The GCF plays a vital role in financing adaptation and mitigation projects in developing countries, addressing climate change challenges globally. Prior to this commitment, $13.5 billion had been pledged to the fund.
The announcement comes amid ongoing discussions on the fulfillment of financial commitments by wealthy nations to assist developing countries in coping with climate change. Developing nations, least responsible for climate change, seek support for adaptation and clean energy transitions.
The US contribution is a crucial step towards meeting the $100 billion annual climate financing pledge made by wealthy nations to support their less affluent counterparts.
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