U.S. Climate Finance Announcement Shows Leadership On The Road to UNFCCC COP 26
Earlier today, U.S. President Joe Biden announced that he intends to double the U.S. contribution to global climate financing to $11.4B per year. John Verdieck, Director of International Climate Policy for The Nature Conservancy, issued the following statement in response to the pledge:
“This announcement from the U.S. just six weeks before UNFCCC COP 26 is a recognition of the critical need to escalate climate finance right now. In Copenhagen in 2009, the world pledged to mobilize $100B to support climate action in developing nations, yet that full amount has not been delivered to date. Alongside last week’s €4B pledge from the European Union to escalate their own climate finance commitments, there is now real pressure to deliver much-needed assistance from all developed nations across the world.
“Today’s pledge shows that U.S. is serious about raising the bar for climate ambition. They understand that time is short to take words into action, and we need a concrete pathway towards keeping global temperature rise below 1.5 degrees. When paired with the revised U.S. nationally determined contribution announcement this past April, the U.S. has returned to a role of leading the climate dialogue from the front, alongside their EU colleagues who also enhanced climate commitments earlier in 2021.
It is imperative as we approach COP 26 that the announcements from the U.S. and EU are not just taken as words, but as the first steps to delivering solutions on the ground. Now is the time for action. Promises made must be promises kept.”
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 76 countries and territories—37 by direct conservation impact and 39 through partners—we use a collaborative approach that engages local communities, governments, the private sector, and other partners. To learn more, visit www.nature.org or follow @nature_press on Twitter.