President’s Pledge to the Green Climate Fund Shows Leadership, Advances America’s National Interest

EDF applauds President Obama for the United States’ pledge of $3 billion dollars to the Green Climate Fund. Building on the Administration’s landmark agreement with China earlier this week, the President is demonstrating U.S. leadership that can ultimately help bring the world together to tackle a unifying problem – global climate change.   

This pledge builds upon the momentum from President Bush’s commitment of $2 billion dollars to the World Bank’s Climate Investment Fund in 2008, along with the Obama Administration’s $6 billion in Fast Start Climate Finance over the period 2010-2012. In line with earlier funding, the Administration’s new pledge will advance America’s national interest by helping developing countries reduce greenhouse gas emissions and build resilience to the impacts of climate change.  

The fund, which is being established by contributions from countries around the world, is managed by an independent board that includes a Deputy Assistant Secretary of the U.S. Department of Treasury, along with representatives from the private sector and civil society.

Addressing climate change is every country’s responsibility. With this week’s events, we have taken a great step toward that united effort.