Washington, D.C. – Oregon’s U.S. Senator Jeff Merkley today announced the introduction of the Green Climate Fund Authorization Act of 2024 to authorize $4 billion annually to the Green Climate Fund (GCF) for each of the next two fiscal years (FY25 and FY26). The GCF was established in 2010 as the financial mechanism of the United Nations Framework Convention on Climate Change to support developing countries in achieving their goals to reduce greenhouse gas emissions and build climate resilience. Previously, Congressman Adriano Espaillat (D-NY-13) introduced a House version of the Green Climate Fund Authorization Act.
“Climate chaos is a global problem, and it requires global solutions,” Senator Merkley said. “The United States is the largest historic contributor to the Green Climate Fund, and the Green Climate Fund Authorization Act will expand that commitment and inspire other countries to increase financing to protect our environment, our economy, and our future. If we want strong international partnership on climate action, the United States has both a moral and a strategic responsibility to accelerate our clean energy future, and this bill helps signal the beginning of a new, stronger commitment to the Green Climate Fund.”
“Climate change is certain, and its undeniable impacts are witnessed in communities around our nation and the globe,” Congressman Espaillat said. “The Green Climate Fund Authorization Act would authorize the much-needed funding to help preserve the United States’ reputation as a global leader in fighting climate change, and I commend Senator Merkley for introducing the Senate companion to this legislation, which I also introduced in the House. We appreciate the Biden Administration’s ongoing dedication to addressing climate through the recent pledge to the Green Climate Fund, and together, through our legislative efforts, we are working to ensure these much-needed funds are made available to bolster our national climate goals, assist developing nations around the world, and preserve our planet for future generations.”
Sen. Merkley – a senior member of the Senate Appropriations Committee – has been a leading proponent of the Green Climate Fund and other international solutions to take on climate chaos. He was instrumental in making sure Congress appropriated the two billion dollars the U.S. has contributed to the Green Climate Fund and annually leads the effort to increase U.S. contributions.
The Green Climate Fund Authorization Act of 2024 is cosponsored by U.S. Senators Edward J. Markey (D-MA) and Bernie Sanders (I-VT). The bill is supported by Action Aid, Sunrise, Oxfam, Center for Biological Diversity, and EcoEquity.
To read the full bill text, click here.
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