NewsRepublicans demand a voice on Biden's plan to provide additional climate funding overseas
April 20, 2023
President Biden committed $1 billion to the Green Climate Fund and $500 million over five years to Brazil’s Amazon Fund program for climate aid.
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- Republican opposition threatens Biden's goal of increasing international global warming finance to $11 billion annually by 2024, as well as the operationalization of a ‘loss and damage’ fund to help poorer nations.
- U.S. initiatives include a new “Methane Finance Sprint” raising public and private funds of at least $200 million, and use of multilateral development banks such as the World Bank to invest in climate change solutions – estimated at an annual expenditure of $4.5 trillion for the next 30 years.
