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U.S. seeks to double climate change aid for developing nations -Biden By Reuters


© Reuters. The 76th session of the General Assembly took place at UN Headquarters, New York. Joe Biden spoke on September 21st 2021. Timothy A. Clary/Pool via REUTERS

NEW YORK (Reuters) -U.S. President Joe Biden told the United Nations General Assembly on Tuesday he would work with Congress to double funds by 2024 for helping developing nations deal with climate change to $11.4 billion per year, which would help achieve a global goal set more than a decade ago to mobilize $100 billion per year to support climate action in vulnerable countries.

In April, the United States announced that it would double its public international funding to assist developing countries in tackling climate change. He told world leaders that he was proud to say that he and the Congress will work together to increase that amount again. This includes for adaptation.

Biden made the announcement with just six weeks until UN climate summit starts in Glasgow, Scotland.

Boris Johnson, the British host of the summit has stated that meeting the climate finance target was key to building trust among developing and industrialized nations before new negotiations. Developed countries have not been able to mobilise $100 billion annually by 2020’s original goal year.

The Organisation for Economic Cooperation and Development released a report last week, ahead of Biden’s announcement. It stated that the rich nations likely failed to meet their goal to provide $100 billion per year in aid to developing countries to combat climate change. This was despite increasing funding by less then 2% in 2019.

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