President Joe Biden has pledged to increase US spending on international climate aid to $11.4 billion per year by 2024. The decision would significantly increase the funds available for the poor countries to spend on clean energy and to fight the brutal effects of global warming. Previously, Biden had announced to double its commitment to 5.6 billion, six months ago.
The former US President Donald Trump had withdrawn United States from the global pact to cut the carbon emissions. Along with the withdrawal from the pact, he had also cancelled all US payments to the international climate aid fund.
President Joe Biden informed the United Nations General Assembly that US will work to double the spending again including the efforts to adapt to the climate change. These actions will bring United States to leading positions in public climate finance, he added.
Even after doubling the spending, the annual figure falls short of the contributions by the US allies to the carbon emission. The pledged amount represents only roughly one-eighth of what is emitted by United States, which is the largest emitter in the world history. The US has come second in its emission each year since 2006, following China. US would need to account for its cumulative share of carbon heating it has caused to the planet.