News Release

U.S. Pledge to Global Climate Fund “Welcome,” but “Drop in Bucket”

Tus china climatewo days after announcing a joint initiative with China on climate, senior White House officials signal that President Obama will pledge up to $3 billion to the Green Climate Fund at a the G20 meeting in Brisbane, Australia this weekend.

JANET REDMAN, janet at ips-dc.org, @Janet_IPS
Redman, climate policy program director at the Washington D.C.-based think tank the Institute for Policy Studies, had the following reaction: “U.S. military spending topped $575 billion last year alone. While it’s welcome, a White House pledge of $3 billion over four years to climate security is a drop in the bucket by comparison.

“The impacts of climate change — extreme storms, water scarcity, food shortages — are no longer threats. For vulnerable communities around the world they are a reality. The expected commitment from President Obama to provide $3 billion to support these communities as they build resilience to climate disruption and shift to clean renewable energy is a start. But the U.S. will have to step up its ambition in providing finance and cutting greenhouse gas emissions if the international community hopes to secure a fair and equitable climate deal at the end of next year that protects people and the planet.”