Posts Tagged ‘Green Climate Fund’

US promotes climate aid to skeptical Congress

Friday, May 27th, 2011

Source:  US promotes climate aid to skeptical Congress

by  Shaun Tandon

“WASHINGTON — The US administration said that assistance to poor countries worst hit by climate change was crucial to US credibility as it struggled to convince a skeptical Congress.

Wealthy economies — namely the United States, Japan and European Union — have promised billions of dollars to poor countries in what has become a key component of a future global treaty on climate change.

Chief US climate negotiator Todd Stern on Wednesday told Congress that such investment was “in our national interest” and quoted a World Bank study saying that every dollar spent on disaster preparedness saved $7 in disaster response. (more…)