Jennifer A Dlouhy, Bloomberg News |The U.S. will pledge $3 billion toward a United Nations fund meant to help developing countries slash greenhouse gas emissions and adapt to climate change — an effort that could help rebuild trust in rich nations’ promises of aid amid pivotal climate talks in Dubai. This is the second round of replenishment for the fund, and the U.S. promise would bring it to its highest level yet. The pledge is seen as helping to shore up U.S. credibility at the start of the two-week COP28. During negotiations at recent COPs, the limits of finance — and the long-running failure of wealthy countries to provide it — have fostered deep mistrust and tension. The rich world was supposed to provide $100 billion a year in climate finance for emerging economies starting in 2020, a milestone it appears to have reached two years late.
