US Deposits $500M Into UN-Backed Green Climate Fund

obamas printed budgetCCD Editor: This is why the electorate is so disgusted with D.C. politicians. This is half a billion taxpayer dollars, and the Republicans signed off on this last December:

At a time when Republican opposition to President Barack Obama’s climate change initiatives is growing, the U.S. government announced Monday that it had deposited $500 million into the United Nations-backed Green Climate Fund (GCF). The payment marks the first tranche of the $3 billion the U.S. pledged for the GCF in 2014.

“This grant is the first step toward meeting the president’s commitment of $3bn to the GCF, and shows that the United States stands squarely behind our international climate commitments,” a State Department spokesman said Monday.

Developed nations have, so far, contributed over $10 billion to the GCF, which was established in 2010 with an aim to create a basket of funds to help developing nations mitigate the effects of anthropogenic climate change.

However, while the GCF has set an ambitious target of mobilizing $100 billion a year in climate finance from public and private sources by 2020, so far only a fraction of it has been raised.

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Moreover, in the U.S., where Obama’s ambitious Clean Power Plan — which seeks to drastically cut pollution from power plants — has run into legal hurdles, the government’s $3 billion pledge for the GCF has also become a hot button issue. In November, for instance, several Republican members of Congress threatened to block federal funds for climate aid, before relenting during budget negotiations in December.

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Comments (4)

  • Avatar

    Amber

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    Donald Trump and Ted Cruz are popular because the Republican establishment has made a hard left and are a lazy bunch of overpaid politicians that do not represent
    American values or the people who elected them . Trump and Cruz frightens them because their cosy little bubble is about to pop . It is long overdue . The two politicians that they control are in free fall and if they were not propped up by the Republican old boys club
    they would have already cut and run .

    Hillary will win and the idiots running the Republican Party will wear this .

  • Avatar

    Al Shelton

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    And who is going to do the audit?
    It will read something like this:
    Administration Costs; perks; salaries; pensions; living expenses; travel; full family medical and dental care;…etc etc., $495,000,000.00
    Climate mitigation: $5,000,000.00

  • Avatar

    GR82DRV

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    [quote name=”Al Shelton”]And who is going to do the audit?
    It will read something like this:
    Administration Costs; perks; salaries; pensions; living expenses; travel; full family medical and dental care;…etc etc., $495,000,000.00
    Climate mitigation: $5,000,000.00[/quote]
    Do you really think they’d spend that much on climate mitigation? Even [i]they[/i] know it’s a bunch of cr@p…

  • Avatar

    Amber

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    Just wait to see if till they take Obama’s salary and perk pack off next year . Consider the $5
    million gone, but hey that’s break even and considering the USA national debt grew under his watch by more than all Presidents combined could people expect anything different should he land there .
    The biggest con job in history to try and pretend to stop some miniscule warming which in fact would be very good for the planet . Unbelievable .

    The global warming scam makes a Trump run look like pure genius .

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