The U.N.’s flagship Green Climate Fund will be $1 billion richer from Thursday after Biden gifts it a cash donation courtesy of U.S. taxpayers.
Simon KentThe U.N.’s flagship Green Climate Fund will be $1 billion richer from Thursday after President Joe Biden gifts it a cash donation courtesy of U.S. taxpayers.
Biden will announce the billion dollar largesse, effectively doubling the overall U.S. contribution, to thewhich finances “low-carbon and climate-resilient projects in developing countries” while leading a push away from fossil fuels. The announcement will be made during a virtual meeting of the Major Economies Forum on Energy and Climate .The president will also request $500 million over five years to support anti-deforestation efforts in Brazil – though Congress often does not allocate funds that the president asks for, according to a White House fact sheet.
The GCF was established as part of the 2009 U.N.
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