US will pay up to $1BN to compensate developing countries for global warming - but gas-guzzling China WON'T have to pay into global fund
The United States will take part in the creation of and contribute to a fund that will pay developing nations to tackle climate change.
The fund, negotiated at the United Nations' COP27 Summit, was originally known as a 'loss and damage' fund and had been blocked by previous American administrations.
With a final climate accord already more than a day overdue, representatives of nearly 200 nations were anxious for an agreement they could bill as a step forward in the fight against climate change.
The nations involved are largely from Asia, Africa, Latin America, the Caribbean and the south pacific, who see the matter as payback for a crisis that they did not contribute to but nonetheless could, in their view, destroy them.
Biden granted $1 billion to help developing countries tackle climate change, although it's unclear if that cash will go into this fund.
The president also faces having his plans stymied by the GOP-majority house, which would have to approve any funding.
And gas-guzzling China wouldn't have to contribute to any global fund, because it is still considered a developing nation.
US will compensate developing countries for global warming
You gotta hand it to them.....Democrats are the greatest money launderers this world has ever seen.
The United States will take part in the creation of and contribute to a fund that will pay developing nations to tackle climate change.
The fund, negotiated at the United Nations' COP27 Summit, was originally known as a 'loss and damage' fund and had been blocked by previous American administrations.
With a final climate accord already more than a day overdue, representatives of nearly 200 nations were anxious for an agreement they could bill as a step forward in the fight against climate change.
The nations involved are largely from Asia, Africa, Latin America, the Caribbean and the south pacific, who see the matter as payback for a crisis that they did not contribute to but nonetheless could, in their view, destroy them.
Biden granted $1 billion to help developing countries tackle climate change, although it's unclear if that cash will go into this fund.
The president also faces having his plans stymied by the GOP-majority house, which would have to approve any funding.
And gas-guzzling China wouldn't have to contribute to any global fund, because it is still considered a developing nation.
US will compensate developing countries for global warming
You gotta hand it to them.....Democrats are the greatest money launderers this world has ever seen.
