President Biden is giving $1 billion to the United Nations’ Green Climate Fund.
The president confirmed the financial commitment in a message from the White House announcing Thursday’s meeting of the Major Economies Forum on Energy and Climate (MEF).
“At today’s meeting, the President will highlight new steps the United States is taking to meet its ambitious 1.5°C-aligned goal of reducing emissions by 50-52 percent by 2030,” the White House wrote in a statement statement.
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President Biden spoke during a visit to the Cummins Power Generation facility in Fridley, Minnesota. (Stephen Maturen/Getty Images)
The statement continued, “The President will also announce significant new steps the United States is taking to support developing countries in taking stronger climate action – including providing $1 billion to the Green Climate Fund and requesting $500 million for the Amazon Fund and related activities – and invite other countries to join the United States and others in making full use of multilateral development banks to better address global challenges, like climate change.”
The MEF aims to address several key parts of Biden’s environmental plan, including efforts against deforestation in the Amazon and a push for zero-emission vehicles by 2030.
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President Biden speaks at the Major Economies Forum on Energy and Climate from the South Court Auditorium of the Eisenhower Executive Office Building, adjacent to the White House, in Washington, DC, June 17, 2022. (MANDEL NGAN/AFP via Getty Images)
The Biden Administration outlined four main topics of the meeting: “Decarbonizing Energy,” “Ending Deforestation of the Amazon and Other Critical Forests,” “Tackling Potent Non-CO2 Climate Pollutants” and “Accelerating Carbon Capture and Removal Technologies.”
The MEF is an international body of heads of state intended to facilitate open dialogue about environmental issues within the context of economic growth.
“In addition to partnering on new joint efforts, the leaders are expected to announce other new steps their countries are taking to fulfill their country-defined contributions under the Paris Agreement,” said of the White House.
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“The President will encourage countries whose 2030 Paris targets are not yet aligned with keeping 1.5 °C achievable to strengthen their targets through COP 28 this November in Dubai,” the statement added.
The group has been meeting regularly since it convened in 2009.
Former President Obama chaired the body’s first preparedness meeting in Washington, DC
Brooke Singman of Fox News contributed to this report.
