US: Trump reneges on $4B in Green Climate Fund financing

The United States has reneged on $4 billion in pledges it had made to the Green Climate Fund, marking the first time such a pledge has been rescinded for the fund.

The United States has officially reneged on $4 billion in pledges it made to the Green Climate Fund, or GCF.

The move, first reported by Politico, was confirmed to Devex by GCF. President Donald Trump has repeatedly called climate change a “hoax,” criticized the fund during his first administration, and had promised on the campaign trail to cancel any payments.

“We have been made aware that the United States of America has notified the United Nations of its decision to rescind outstanding pledges to the Green Climate Fund (GCF),” a GCF spokesperson said in a statement.

27 December 2024

CLIMATE FINANCE: Protesters demand rich countries pay fair share in climate finance amid COP29 negotiations

Around 50 demonstrators gathered at the entrance of the COP29 venue this morning, urging wealthy nations to uphold their financial commitments for climate change adaptation and mitigation in the Global

Read More
13 December 2024

US: IRS recovers nearly $5 billion in proceeds from tax fraud, criminal financing

Recently enacted Internal Revenue Service initiatives recovered $4.7 billion in funds from illegal schemes and criminal practices, officials said in a Thursday statement. Nearly $3 billion came from

Read More
31 January 2025

ESG: Never Mind the Politics.. Green Bonds to Hit US$1tn in 2025

Despite a global political momentum shift and growing scrutiny of green finance, Moody’s Ratings says sustainable bonds will again hit US$1tn this yearGlobal green finance has appeared to be on

Read More
29 November 2024

GREECE: Gov’t boosting massive investment program and tax reductions from surplus revenues fighting tax evasion

The positive circumstances for the massive investment program funded by the Recovery Fund and NSRF, as well as from the significant rise in revenues due to the curtailment of tax evasion, create conditions

Read More