Biden pledges $1 billion more to international Green Climate Fund
Total taxpayer contributions to the group now total $2 billion, with more likely to come.
President Joe Biden announced plans Thursday to give $1 billion more in U.S. taxpayer money to the South-Korea-based Green Climate Fund, which is associated with United Nations.
The announcement was made by the White House in a fact sheet in which it also announced Biden will convene a Major Economies Forum on Energy and Climate in which the president intends to "highlight new steps" toward his efforts to reduce carbon emissions.
Fund Deputy Executive Director Henry Gonzalez said the money is "urgently needed" to help developing countries counter climate change.
The group considers itself "the world’s largest climate fund" and a "critical element of the historic Paris Agreement," the international climate accord brokered by the Obama administration in 2015 and that President Trump officially exited in 2020.
The funds will bring the United States' total investment in GCF to $2 billion.
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