The Biden administration has pledged $3 billion to the Green Climate Fund to assist developing countries in addressing climate change.
Vice President Kamala Harris urged wealthy nations to do more at the UN climate summit, emphasizing the need for international climate finance.
The announcement comes amid political divisions in Congress over spending priorities. (Trending: Disgraced Democrat Sued For Sexual Assault)
“The U.S. is committed to expanding international climate finance,” the vice president said. “I am proud to announce a new $3 billion pledge to the Green Climate Fund to help developing countries access capital to invest in resilience, clean energy, and nature-based solutions.”
Harris accused people skeptical of the global climate agenda of trying to “slow or stop our progress.”
“Continued progress will not be possible without a fight,” she said.
“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; corporations that greenwash their climate inaction and lobby for billions of dollars in fossil fuel subsidies.”
“We must have the ambition to meet this moment, to accelerate our ongoing work, increase our investments, and lead with courage and conviction,” she stated.
Additionally, the administration plans to invest in the Women in the Sustainable Economy initiative, aiming to support women’s economic participation in clean energy and environmental conservation.
John Kerry also announced that the US will not build new coal-burning plants and will join the Powering Past Coal Alliance to accelerate the phase-out of coal-fired power stations.
John Kerry, President Biden’s top climate diplomat, said, “To meet our goal of 100 percent carbon pollution-free electricity by 2035, we need to phase out unabated coal, and we urge the world to join us in doing so while working to grow good-paying clean energy jobs.”
“Together with the Powering Past Coal Alliance, we will be working to accelerate unabated coal phase-out across the world, building stronger economies and more resilient communities,” he added.
“The first step is to stop making the problem worse: stop building new unabated coal power plants.”
The U.S. Department of Energy recently stated, “Coal-fired generators—especially older, less efficient units—face higher operating and maintenance costs, which make them less competitive and more likely to retire.”
“In addition, some coal-fired power plants must comply with regulations limiting the discharge of wastewater by 2028, which would require additional capital investment, likely influencing the decision to retire some of these coal-fired units.”
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