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US pledges billions to Green Climate Fund

US pledges billions to Green Climate Fund

The US wants to pay $3 billion into the Green Climate Fund (GCF). Vice President Kamala Harris announced this in her speech at the UN Climate Conference in Dubai on Saturday. This is the first US contribution to the fund since 2014.

The GCF is one of the most important instruments of the International Climate Fund. The fund is intended to support climate protection and adaptation to climate impacts in developing countries. Industrialized countries have actually committed $100 billion a year to these goals starting in 2020, some of which will flow into the GCF. According to preliminary estimates, this amount was reached for the first time in 2022 and is expected to be reached in 2023.

Harris pointed out that the United States has massively increased its climate protection efforts since President Joe Biden took office. “Today we are showing through action how the world can and must tackle the climate crisis,” he said during a summit of heads of state and government in Dubai. Harris pointed to the rapid expansion of wind and solar power in the US and the decline in CO2 emissions.

Biden originally wanted to go to the climate conference, but Harris later deputized. The Vice President called on the international community to make more efforts to limit global warming to 1.5 degrees. “We need to do more to reach 1.5 degrees,” he said. Now is the time to confirm it.