U.S. withdraws from climate fund while other countries increase contributions
U.S. withdraws from climate fund while other countries increase their contributions.
TroibNews 
In a move formalizing its withdrawal from climate and foreign aid efforts, the Trump administration has notified global financial institutions that the United States will exit the significant International Climate Loss and Damage Fund.
Climate experts have condemned the Treasury Department's choice to officially step away from the fund, which was established to compensate poorer nations for damages inflicted by polluting countries, especially those experiencing extreme weather events like storms, heatwaves, and droughts due to fossil fuel emissions. A Treasury official indicated in a letter last week that U.S. representatives on the fund’s board are resigning.
When the fund was established in 2022, then-President Joe Biden committed to a $17.5 million contribution from the U.S., which is historically the largest emitter of carbon dioxide.
A dozen nations that have contributed less to global pollution – including Australia, Austria, Denmark, France, Germany, Ireland, Italy, Norway, Spain, Sweden, the United Arab Emirates, and the United Kingdom – alongside the European Union, have pledged more than the U.S. The largest contributions of $104 million each were made by Italy and France. According to the United Nations, the Loss and Damage Fund had amassed $741.42 million in pledges as of January.
For many poorer nations, particularly in the global south, the fund has been viewed through the lens of environmental justice. This concept was resisted by the U.S. and several affluent countries until 2022, when they ultimately consented to its formation while maintaining that it was not a form of reparations.
In its initial 50 days, the Trump administration cut or eliminated funding for domestic environmental justice, foreign aid, climate change projects, and diversity, equity, and inclusion initiatives. The president also commenced the year-long process to withdraw from the landmark 2015 Paris Climate Agreement once again.
Earlier this month, the U.S. also exited a specific climate agreement that facilitated support from wealthy nations to assist poorer nations in transitioning to renewable energy sources.
Emily Johnson contributed to this report for TROIB News
Climate experts have condemned the Treasury Department's choice to officially step away from the fund, which was established to compensate poorer nations for damages inflicted by polluting countries, especially those experiencing extreme weather events like storms, heatwaves, and droughts due to fossil fuel emissions. A Treasury official indicated in a letter last week that U.S. representatives on the fund’s board are resigning.
When the fund was established in 2022, then-President Joe Biden committed to a $17.5 million contribution from the U.S., which is historically the largest emitter of carbon dioxide.
A dozen nations that have contributed less to global pollution – including Australia, Austria, Denmark, France, Germany, Ireland, Italy, Norway, Spain, Sweden, the United Arab Emirates, and the United Kingdom – alongside the European Union, have pledged more than the U.S. The largest contributions of $104 million each were made by Italy and France. According to the United Nations, the Loss and Damage Fund had amassed $741.42 million in pledges as of January.
For many poorer nations, particularly in the global south, the fund has been viewed through the lens of environmental justice. This concept was resisted by the U.S. and several affluent countries until 2022, when they ultimately consented to its formation while maintaining that it was not a form of reparations.
In its initial 50 days, the Trump administration cut or eliminated funding for domestic environmental justice, foreign aid, climate change projects, and diversity, equity, and inclusion initiatives. The president also commenced the year-long process to withdraw from the landmark 2015 Paris Climate Agreement once again.
Earlier this month, the U.S. also exited a specific climate agreement that facilitated support from wealthy nations to assist poorer nations in transitioning to renewable energy sources.
Emily Johnson contributed to this report for TROIB News
