U.S. withdraws from climate fund while other countries increase their contributions
U.S. withdraws from climate fund while other countries increase their contributions.
TroibNews 
The Trump administration has officially signaled its withdrawal from the prestigious International Climate Loss and Damage Fund, marking a further retreat from international climate and foreign aid initiatives. World financial institutions have been informed of this decision, which climate analysts have criticized as detrimental. The fund was intended as a means of providing compensation for damages inflicted on poorer nations by environmentally damaging countries, particularly those experiencing severe weather events like storms, heat waves, and droughts as a result of fossil fuel emissions. A Treasury official confirmed this development in a letter last week, stating that U.S. board members of the fund would be resigning.
When the fund was established in 2022, former President Joe Biden committed the U.S., the largest historical emitter of carbon dioxide, to contribute $17.5 million. Despite this, a dozen other countries that have contributed lesser amounts of pollution—including Australia, Austria, Denmark, France, Germany, Ireland, Italy, Norway, Spain, Sweden, the United Arab Emirates, and the United Kingdom—along with the European Union, have collectively pledged more than the U.S. Notably, Italy and France made the largest contributions, each pledging $104 million. As of January, the Loss and Damage Fund had garnered a total of $741.42 million in pledges, according to the United Nations.
For many poorer nations, particularly those in the Global South, the fund has been viewed through the lens of environmental justice. However, wealthy nations, including the U.S., had historically resisted this concept until they eventually acquiesced to the fund's creation in 2022, maintaining that it should not be classified as reparations.
In its initial 50 days, the Trump administration made significant cuts to domestic environmental justice programs, foreign aid, climate initiatives, and diversity, equity, and inclusion efforts. The administration also began the one-year process to withdraw from the landmark 2015 Paris Climate Agreement. Earlier this month, the U.S. further withdrew from a specific climate agreement designed to assist poorer nations in transitioning to cleaner energy sources.
Emily Johnson for TROIB News
When the fund was established in 2022, former President Joe Biden committed the U.S., the largest historical emitter of carbon dioxide, to contribute $17.5 million. Despite this, a dozen other countries that have contributed lesser amounts of pollution—including Australia, Austria, Denmark, France, Germany, Ireland, Italy, Norway, Spain, Sweden, the United Arab Emirates, and the United Kingdom—along with the European Union, have collectively pledged more than the U.S. Notably, Italy and France made the largest contributions, each pledging $104 million. As of January, the Loss and Damage Fund had garnered a total of $741.42 million in pledges, according to the United Nations.
For many poorer nations, particularly those in the Global South, the fund has been viewed through the lens of environmental justice. However, wealthy nations, including the U.S., had historically resisted this concept until they eventually acquiesced to the fund's creation in 2022, maintaining that it should not be classified as reparations.
In its initial 50 days, the Trump administration made significant cuts to domestic environmental justice programs, foreign aid, climate initiatives, and diversity, equity, and inclusion efforts. The administration also began the one-year process to withdraw from the landmark 2015 Paris Climate Agreement. Earlier this month, the U.S. further withdrew from a specific climate agreement designed to assist poorer nations in transitioning to cleaner energy sources.
Emily Johnson for TROIB News
