Biden Renews Pledge to Green Climate Fund

DUBAI  — The Biden administration announced today at COP28 that the U.S. is renewing its commitment to supplement the Green Climate Fund as a part of its international climate finance efforts to support developing nations, especially low income and vulnerable countries, in combatting the climate crisis.

Following is a statement from Manish Bapna, President and CEO at NRDC (Natural Resources Defense Council):

“The nations on the front lines of climate impacts have contributed the least to the problem, are suffering the most, and have the fewest resources to combat it. The world’s wealthiest and most polluting countries have a responsibility to lend their support. This is not charity—it’s justice. 

“This pledge is a promising signal of the United States’s commitment to spur clean energy and promote resilience in vulnerable countries and help rebuild trust with developing countries at the international climate talks in Dubai. The Biden administration must now work with Congress to swiftly turn its pledges into real dollars – there’s not a moment to lose.”

The US had previously pledged $3 billion for the fund in 2014.  The Obama administration had paid $1 billion, and the Biden administration paid $1 billion earlier this year, leaving $1 billion of the original commitment outstanding. President Biden has also committed to invest $11.4 billion overall each year from 2024 to help developing countries tackle the climate crisis.

For a compilation of all of the pledges to date, see NRDC’s GCF Pledge Tracker.

NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Established in 1970, NRDC uses science, policy, law, and people power to confront the climate crisis, protect public health, and safeguard nature. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, Beijing and Delhi (an office of NRDC India Pvt. Ltd). Visit us at www.nrdc.org and follow us on Twitter @NRDC.