The United States is reportedly poised to make a “significant” contribution to a United Nations-backed fund that supports projects to help developing nations adapt to climate change.
Peruvian Foreign Minister Gonzalo Gutierrez Reinel said Secretary of State John Kerry told him the U.S. would announce a commitment to the Green Climate Fund ahead of a December draft negotiating session in Lima, Peru, according to Reuters.
The Lima conference is a prelude to formal talks next year in Paris. Nations are trying to iron out a deal to avoid a 2 degrees Celsius global temperature increase by 2100 — achieving that goal at Paris alone is unlikely, though negotiators say the talks are key for setting nations on the right path to make future commitments.
Many observers say stocking the Green Climate Fund is key to keeping developing nations engaged in the process. But the fund isn’t likely to reach the target of $100 billion by 2020 that rich countries set when they established the program in 2010.
Currently, the Green Climate Fund has $2.3 billion, with a goal of hitting $10 billion this year. But groups such as Oxfam have sought $15 billion for the first three years of operation, and recommended the U.S. pitch in $4.8 billion to cover its “fair share.”
“The United States has a moral responsibility and economic self-interest in helping get the Green Climate Fund up and running,” said Heather Coleman, climate change program manager with Oxfam America.
