Commodities and Futures News

Trump says he would renege on $3 billion US pledge for Green Climate Fund

2023.12.13 23:27


© Reuters. Former U.S. President and Republican presidential candidate Donald Trump speaks during a “Commit to Caucus” event for his supporters in Coralville, Iowa, U.S., December 13, 2023. REUTERS/Vincent Alban

By Nathan Layne

CORALVILLE, Iowa (Reuters) – Donald Trump, the frontrunner for the Republican presidential nomination, said on Wednesday that if elected he would renege on a $3 billion U.S. pledge to a global fund meant to help developing countries cut emissions and adapt to climate change.

The pledge was announced by Vice President Kamala Harris this month in Dubai at the U.N. COP28 climate summit, although it is subject to the politically divided U.S. Congress, which must authorize the release of funds.

Trump, who has made attacking the administration of President Joe Biden’s investments in renewable energy a core part of his campaign message, said he was opposed to what he called “climate reparations” to other countries.

A campaign aide confirmed that Trump was referring to the $3 billion U.S. pledge to the Green Climate Fund.

“When I am back in office all climate reparation payments will be canceled immediately,” Trump said at a campaign event in Coralville, Iowa, adding he would seek to “claw back” any payments made by the Biden administration.

Trump leads his rivals for the Republican nomination by nearly 50 percentage points in national opinion polls, meaning he is likely to face Biden, the presumptive Democratic Party nominee, in the November 2024 election.

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