27 Apr International Climate Finance Plan of the US
(GS PAPER-2, DIPLOMACY
SOURCE- THE HINDU)
Recently the President of the US has announced the country’s new Finance Plan at the Leader’s Summit on Climate. This Summit was hosted by the USA.
At present The United States is the world’s second-leading emitter after China. Now The country will have to contribute a sum of 800 billion USD as its share in international climate finance.
Highlights of the plan:
- The US has set a target to reduce its emissions by 50% to 52% as compared to 2005 levels.
- The US will double its climate funding by 2024. It is to triple its climate funding eventually.
- The United States Agency for International Development (USAID) will release a new Climate Change Strategy in the coming November at the COP26.