Obama Is About to Make the World’s Biggest Pledge to Help Poor Countries Fight Climate Change

Yin Bogu/Xinhua/ZUMA

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What a week! First President Barack Obama announces a massive climate agreement with China designed to lower both countries’ carbon emissions while doubling down on clean energy development. Now this morning, the New York Times is reporting that the president will soon announce a $3 billion contribution to the Green Climate Fund, a UN-administered account that will help developing countries clean their energy sectors and adapt to the impacts of global warming.

A $3 billion pledge from the United States would double the size of the fund; the biggest donations up to this point were $1 billion each from France and Germany. More countries are expected to make commitments at a UN meeting in Berlin next week. The fund’s stated goal is to reach $15 billion before a key meeting next month in Lima, Peru.

Obama’s pledge “is a strong and important signal to developing countries that the US is serious ahead of climate negotiations in 2015,” said Alex Doukas, a sustainable finance analyst at the World Resources Institute.

From the Times:

It is not clear whether Mr. Obama’s $3 billion pledge will come from existing sources of funding, or whether he will have to ask Congress to appropriate the money. Since 2010, the Obama administration has spent about $2.5 billion to help poor countries adapt to climate change and develop new clean sources of energy, but Republicans are certain to target additional requests for money linked to climate change and foreign aid.

So there are still some details to work out. But like the US-China climate deal, the most immediate impact of this pledge announcement will be to encourage other countries to up the ante on their own commitments.

More MotherJones reporting on Climate Desk

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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