US pledges $3 billion to Green Climate Fund

Ms. Harris made the above commitment when speaking at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) taking place in Dubai (United Arab Emirates - UAE).

She stressed that the US will contribute the above amount to the Green Climate Fund to help developing countries access the capital they need to invest in clean energy, nature-based solutions and resilience to the impacts of climate change.

Previously, on October 5, the Green Climate Fund's executive board said that the fund had received a commitment of 9.3 billion USD from 25 countries around the world to help provide financial support to countries vulnerable to the impacts of climate change.

Still, the UN says the pledges so far represent only a fraction of the estimated $250 billion that developing countries need annually by 2030 just to adapt to global warming.

The Green Climate Fund was established as part of the UN climate change negotiations. In addition to supporting climate change adaptation, the fund will also finance projects that help countries transition to clean energy. These projects will be implemented between 2024 and 2027.