Post by sweetpea33 on Jan 24, 2024 23:45:00 GMT -5
Influence and impact as it reengages in global climate action. International climate finance in the 2021 funding bill First, it's important to look at what the fiscal year 2021 spending package passed by Congress in December did for international climate funding. This provides the baseline from which the Biden administration must build. US bilateral development spending $811 million in bilateral allocations for environmental programs addressing biodiversity protection, sustainable landscapes, renewable energy and adaptation: Congress directed that at least $811 million in bilateral assistance — given directly to other governments — be used for environmental objectives, a $5 million increase compared to fiscal year 2020.
These amounts, which come primarily from the Development Assistance and the Economic Support Fund, are similar to the Obama administration's spending. But whereas President Barack Obama Email List voluntarily supported these areas, starting in fiscal year 2020 Congress enshrined renewable energy and adaptation as new mandatory lines in the spending bills (alongside existing lines for sustainable landscapes and biodiversity) to prevent the Trump administration from cutting them.
This international fund has financed projects that help developing countries meet commitments under a variety of global environmental agreements for 29 years, and has enjoyed long-standing bipartisan support in Congress. Despite the Trump administration's repeated efforts to halve U.S. contributions, Congress has maintained Global Environment Facility funding over the past four years. $1.48 billion for multilateral development banks: These banks are significant sources of climate finance for developing countries, providing $46 billion in climate finance in 2019.
These amounts, which come primarily from the Development Assistance and the Economic Support Fund, are similar to the Obama administration's spending. But whereas President Barack Obama Email List voluntarily supported these areas, starting in fiscal year 2020 Congress enshrined renewable energy and adaptation as new mandatory lines in the spending bills (alongside existing lines for sustainable landscapes and biodiversity) to prevent the Trump administration from cutting them.
This international fund has financed projects that help developing countries meet commitments under a variety of global environmental agreements for 29 years, and has enjoyed long-standing bipartisan support in Congress. Despite the Trump administration's repeated efforts to halve U.S. contributions, Congress has maintained Global Environment Facility funding over the past four years. $1.48 billion for multilateral development banks: These banks are significant sources of climate finance for developing countries, providing $46 billion in climate finance in 2019.