Paris Climate Agreement Funding...




In addition, 20% of the EU`s total budget for 2014-2020 is devoted to climate-related measures – and the Commission has proposed to increase this share to at least 25% by 2021-27. Trump talked about the “$10 billion” the U.S. would have to spend on the Green Climate Fund, which was created to raise money from the richest nations to spend on environmental projects in developing countries. 43 countries, which were created in 2011, have committed to do so and have so far raised $10 billion ($7.8 billion). Mr. Trump lamented that other countries had not paid and that the agreement was contrary to America`s interests. In November 2019, the EIB`s Board of Directors decided to end funding for fossil fuel projects by the end of 2021. In its energy credit policy to support the energy transition, the Bank continued its strategy on climate change and environmental impact and focused on supporting clean energy and security. The initial commitment period of the Kyoto Protocol was extended until 2012. This year, at COP18 in Doha, Qatar, delegates agreed to extend the agreement until 2020 (without some industrialized countries withdrawing).

They also reaffirmed their commitment made at COP17 in Durban, South Africa, in 2011, to create a new global climate treaty by 2015 that would require all major emitters not included in the Kyoto Protocol, such as China, India and the United States, to reduce their greenhouse gas emissions. The new treaty – which was to become the Paris Agreement – was to completely replace the Kyoto Protocol by 2020. However, the Paris agreement came into force earlier than expected in November 2016. Looking for a glimmer of air in the unseely UN climate report? Here we can determine the effects of climate change through the political, economic and social choices we are making today. Since Trump`s announcement, U.S. envoys – as well as on behalf – have continued to participate in U.N. climate negotiations to shore up the details of the agreement. Meanwhile, thousands of heads of state and government have intervened across the country to fill the void created by the lack of federal climate leadership, reflecting the will of the vast majority of Americans who support the Paris agreement.