John Kerry Says US Will Commit to Doubling Spending on Climate Financing
U.S. Secretary of State John Kerry announced the United States plans to double its spending on climate change grants for developing nations, with a pledge of over $800 million a year.
Speaking at the United Nations conference on climate change in Paris on Wednesday, Kerry said the U.S. will spend millions each year to finance climate adaptation efforts in developing countries. He also announced the U.S. would join the "high ambition coalition," which is a group of countries pushing for a long-term global commitment to combat climate change.
"The U.S. not only recognizes our role in creating this problem but doing something about it," Kerry said, echoing a statement made by President Barack Obama last week. "The situation demands and this moment demands that we do not leave Paris without an ambitious ... and durable agreement."
As of today, the U.S. designates about $400 million on climate change mitigation efforts that is allocated toward infrastructure improvements, agriculture and health and water programs in developing nations. However, Kerry said the U.S. will look to spend up to $860 million in grant-based funding for developing countries by 2020.
"We will not leave the most vulnerable nations among us to, quite literally, weather the storm alone," Kerry said.
During his speech, Kerry also promised to work toward creating a strong climate change deal before the climate conference comes to an end this week.
"We didn't come to Paris to build a ceiling," he said. "We came to build a floor on which we can and must continue to build."
Following his speech, environmental groups applauded Kerry's pledges and his address in Paris. According to Sierra Club Executive Director Michael Brune, the climate finance pledge "helps fulfill the moral obligation we have to aid those directly affected by the carbon pollution disproportionately created in developed countries that is disproportionately affecting developing countries."
He added, "It is both the right thing to do and the smart thing to do, as extreme weather generates instability and insecurity in communities at home and abroad."
Likewise, Fred Krupp, the president of the Environmental Defense Fund President, called the announcement "equitable and fair."
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