STATEMENT: United States Achieves Biden’s Climate Finance Goal

STATEMENT: United States Achieves Biden's Climate Finance Goal

BAKU (November 17, 2024) - Ahead of the G20 Summit in Rio, the Biden administration confirmed that that U.S. international climate finance has reached over $11 billion a year by 2024. According to the White House, this includes a six-fold scale up of adaptation finance to over $3 billion per year and achieving record-levels of climate investments through the U.S. International Development Finance Corporation and U.S. Export Import Bank.

Following is a statement by Melanie Robinson, Global Climate, Economics and Finance Director:

"It is very encouraging that the United States has surpassed its climate finance goal, providing over $11 billion a year towards international climate finance. This demonstrates that the U.S. is starting to play the fuller role in climate finance that many have been calling for. The more than six-fold increase since fiscal year 2021 is delivering real benefits for people, nature, and avoiding dangerous climate impacts. By stepping up its efforts, the U.S. is not only supporting international climate action but also creating new markets and more resilient supply chains for its own green goods and services. It will be good for the world and good for the US if these increases continue."