Cop: US pledges $3bn to UN climate fund

Dubai, 2 December (Argus) — The US on Saturday pledged an additional $3bn to the UN Green Climate Fund, as it seeks to reassure the rest of the world that it will not skip out on its commitments under the Paris Agreement.

US vice president Kamala Harris announced the funding at the Cop 28 UN climate talks in Dubai where she touted the country's domestic and international efforts around climate change.

“Globally the United States is a leader in the effort to expand international climate finance,” she said, citing progress toward meeting US President Joe Biden's pledge to provide more than $11bn/yr in climate-related funding to developing countries by 2024.

Harris also highlighted other US efforts to address climate, including $1 trillion of investments through the Inflation Reduction Act that are helping to expand domestic manufacturing of electric vehicles batteries, wind turbines and solar panels.

“Two years ago, President Biden stood on stage at Cop 26 and made a declaration of ambition: The United States of America will once again be a global leader in the right against the climate crisis,” she said. “Since then, the United States has turned ambition into action.”

The $3bn is being pledged as part of the GCF's second replenishment from 2024-27. The US also said that would champion an ambitious “evolution agenda” for the GCF that would look for ways to better leverage funding and improve access for small island developing states, least developed countries and African nations.

The new pledge does not guarantee that the US will deliver the funds. Biden will have to convince a sharply divided US Congress to provide the money. In addition, next year's presidential election could result in another about face in US climate policy, with Biden's processor, Donald Trump, hoping to return to the White House.

The US had pledged $3bn to the climate fund under former president Barack Obama, but previously delivered just one-third of the money before he left office. The country did not deliver any additional funding until [earlier this year](https://direct.argusmedia.com/newsandanalysis/article/2441266), when it provided $1bn, bringing its total contribution to $2bn.

The GCF finances projects in developing and emerging countries with a focus on mitigation, adaptation and resilience efforts, such as climate-friendly agricultural methods, reforestation or coastal protection.

Biden's decision to skip Cop 28 drew some criticism from environmental groups that viewed it as a sign the US is not committed to the talks anymore. But the administration's representatives in Dubai so far have tried to reassure the rest of the world that it is still engaged. In addition to the new GCF pledge, the administration during the Cop will make several other announcements of new funding and initiatives across a wide range of areas, including methane reduction, voluntary carbon markets and resilience.

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