US EditionIn another climate and money withdrawal, US pulls out of climate damage compensation fund
- The Trump administration has announced that the U.S. is withdrawing from the international climate Loss and Damage Fund, with U.S. board members resigning from it.
- In 2022, then-President Joe Biden pledged that the U.S. would contribute $17.5 million to the fund, but other countries have committed more.
- Climate analysts, including Mohamed Adow, criticized the decision, stating it would lead to suffering for the poorest communities affected by climate disasters.
- Rachel Cleetus, a representative of the Union of Concerned Scientists, called the withdrawal a cruel action that reflects the U.S.'s failure to support vulnerable nations bearing the climate crisis burden.
16 Articles
16 Articles
Trump Withdraws US from Climate Damage Compensation Fund
President Trump has withdrawn the United States from a United Nations-negotiated loss and damage fund aimed at partly compensating poorer countries from the irreversible effects of the climate crisis. Nearly 200 countries agreed to establish the fund at the COP28 climate summit in Dubai in 2023. As of January, the U.S. had pledged just $17.5 million out of about $740 million in pledges from wealthy nations. Mohamed Adow, climate analyst and foun…
The Oil Inside Calpers’ Climate Portfolio
Today’s newsletter looks at a conundrum facing the largest pension fund in the US. Calpers had pledged billions in climate-friendly investments, but amid a rollback in net-zero goals across the energy sector its fund is looking less green. Read more below, or get the full story on Bloomberg.com. For unlimited access to climate and energy news, please subscribe.
U.S. pulls out of climate fund as other nations step up
Formalizing another withdrawal from both climate and foreign aid programs, the Trump administration has informed world financial institutions that the United States is pulling out of the landmark International Climate Loss and Damage Fund.Climate analysts
US withdraws from landmark climate loss and damage fund
The Trump administration has withdrawn from the program designed to aid poor nations suffering from climate change impacts. Critics said this will worsen suffering for populations already struck by climate disasters.
US pulls out of climate damage compensation fund
The Trump administration has told world financial institutions that the U.S is pulling out of the landmark international climate Loss and Damage Fund. Climate analysts Monday were critical of the U.S. Treasury Department's decision to formally pull out from the fund designed as compensation for damage by polluting nations to poor countries especially hurt by the extreme storms, heat and drought caused by the burning of coal, oil and gas. A Treas…
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