U.S. Vice President Kamala Harris announced in Dubai at the UN COP28 Climate Conference that the United States is pledging $3 billion to the Green Climate Fund.
The fund, with more than US$20 billion in pledges, is the largest international fund dedicated to supporting climate action in developing countries. The Green Climate Fund was created to help developing countries handle climate change.
“Around the world, there are those who seek to slow or stop our progress. Leaders who deny climate science, delay climate action and spread misinformation,” the vice president said at the COP28 climate summit.
“The clock is no longer just ticking; it’s banging,” Harris said of the climate crisis. “And we must make up for lost time and we cannot afford to be incremental.” Countries across the world, she said, “must lead with courage and conviction. We must treat the climate crisis as the existential threat it truly is. It is our duty and obligation. Not a choice.”
Harris’ attendance at the UN climate summit in Dubai is in line with her recent steps to intensify public messaging on climate change.
“The United States has turned ambition into action,” Harris said Saturday, citing billions of dollars in new investments as part of the bipartisan infrastructure law and Inflation Reduction Act. She also mentioned hundreds of new and expanded solar panels, wind turbines, electric vehicle and battery manufacturing plants. “Today we are demonstrating through action how the world can and must meet this crisis,” Harris said. “This is a pivotal moment.”
The Green Climate Fund (GCF) was established in 2010 to mobilize finance to help developing countries reduce their emissions, strengthen their economic resilience and infrastructure, enhance energy security through diversification of energy sources, and adapt to the impacts of a changing climate.
The pledges announced by the United States would come on top of $9.3 billion in new commitments already announced by Germany, UK, France, Japan, and others.
“The GCF has established a strong track record of enabling countries to accelerate the energy transition, assisting communities around the world in building resilience to the impacts of the climate crisis, and mobilizing significant private capital for climate action. Through this pledge to support the GCF’s second replenishment and its role on the Board, the United States will help to supercharge these efforts,” said Special Presidential Envoy for Climate John Kerry.
“Today’s pledge sends a critical signal at COP28 that the United States is committed to playing a leading role in helping emerging markets and developing economies mitigate greenhouse gas emissions and adapt to a changing climate”, said Secretary of the Treasury Janet L. Yellen. She added that the U.S. government is working with the GCF leadership on an ambitious agenda to make it more effective and is also partnering with the private sector to “maximize its impact and stretch every dollar”.
The United States also committed to phasing out all the country’s coal-fired power plants when it joined the Powering Past Coal Alliance. Coal is the single largest contributor to the climate crisis, according to the alliance.
