Sharm El Sheikh (Union)
US President Joe Biden has pledged to double the funding of the Climate Fund to $11 billion.
This came according to what Samuel Warberg, the regional spokesman for the US State Department, told the Egyptian News Agency, days before the arrival of the US President on November 11 to participate in the climate summit in Sharm El-Sheikh.
“We look forward to the success of the climate conference in Sharm el-Sheikh, and Biden is keen to participate in the summit,” Warberg said.
He pointed out that “the US administration has an interest in the climate change file because of its great repercussions, not only on the American interior, but on the whole world.”
He noted, “President Biden pledged to quadruple the climate fund’s funding from the ceiling reached by the Barack Obama administration and provide $11 billion in funding annually by 2024.”
He explained that this funding will be provided to “support countries’ efforts to decarbonize their economies, promote climate-friendly land use practices and enhance adaptation and resilience.”
“The president’s budget request for fiscal year 2023 will effectively achieve this goal a year ahead of schedule,” he said.
On November 15, 2014, the Obama administration pledged $3 billion to the United Nations Green Climate Fund, but its contribution was limited to just $1 billion before the end of Obama’s presidency, according to press reports.
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