Biden Gifts A Billion Taxpayer Dollars To U.N.’s Green Climate Slush Fund
The U.N.’s flagship Green Climate Fund (GCF) will be $1 billion richer from Thursday after President Joe Biden gifts it a cash donation courtesy of U.S. taxpayers.
Biden will announce the billion-dollar largesse, effectively doubling the overall U.S. contribution, to the organization that finances “low-carbon and climate-resilient projects in developing countries” while leading a push away from fossil fuels. [emphasis, links added]
The announcement will be made during a virtual meeting of the Major Economies Forum on Energy and Climate (MEF).
The president will also request $500 million over five years to support anti-deforestation efforts in Brazil – though Congress often does not allocate funds that the president asks for, according to a White House fact sheet.
The GCF was established as part of the 2009 U.N. agreement reached in Copenhagen and is supposed to distribute $100 billion per year to poor countries under the guise of funding various emissions reduction initiatives and compensation for climate-related damages, as Breitbart News reported.
Biden is also scheduled to renew his call for a global push toward electric vehicles (EVs).
The president will prioritize the collective goal of ensuring EVs make up 50 percent of sales of light-duty vehicles and 30 percent of medium-duty vehicles by 2030, Reuters reports.
The president has already set a domestic goal of making 50 percent of new car sales electric by 2030.
A recently proposed climate regulation from the Environmental Protection Agency (EPA) may be even more ambitious — the agency projects it could result in 60 percent of new light-duty cars being electric for the model year 2030.
Top photo by Timur Weber via Pexels
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