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Obama to Announce $3 Billion U.S. Contribution to Climate Change Fund

Amanda Casanova | Contributor | Friday, November 14, 2014

Obama to Announce $3 Billion U.S. Contribution to Climate Change Fund

President Obama is expected to announce that the United States will earmark $3 billion to an international fund dedicated to helping the world’s poorest countries affected by climate change.

“We’re doing this because it is in our national interest to build resilience in developing countries to climate change,” said an unnamed senior administration official to the New York Times.

The announcement is expected to come at a summit meeting this weekend in Australia.

Earlier this week, Obama also announced that the United States and China will commit to limiting greenhouse gas emissions.

Speaker John A. Boehner said: “This announcement is yet another sign that the president intends to double down on his job-crushing policies no matter how devastating the impact for America’s heartland and the country as a whole.”

Obama’s pledge of $3 million will go to the Green Climate Fund. The US is hoping the announcement encourages other countries to also pledge to help the poor countries.

“The contribution by the U.S. will have a direct impact on mobilizing contributions from the other large economies,” said Hela Cheikhrouhou, executive director of the Green Climate Fund. “The other large economies — Japan, the U.K. — have been watching to see what the U.S. will do.”

Publication date: November 14, 2014