Politics
Biden Disappoints Activists With $5.7 Billion Climate Pledge for Poor Countries
- Pledge seen falling short as developing nations clamor for aid
- ‘Financing at an unprecedented scale’ needed to meet challenge
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President Joe Biden’s vow to spend $5.7 billion annually helping developing nations deal with climate change and propel clean energy has disappointed environmental activists who say it falls far short of what the U.S. should be spending.
Biden’s funding pledge, made before a Thursday climate summit with the leaders of 40 nations, would represent a doubling of climate-finance spending during the second half of the Obama administration. But it’s much less than that sought by environmental advocates, who called for funds ranging from $8 billion to $800 billion through 2030.