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Climate finance in the United States involves the mobilization of public and private funds to support efforts to mitigate and adapt to climate change, with a focus on leveraging market-based mechanisms, policy incentives, and investments in clean energy and resilience initiatives to meet domestic and global climate goals.
Climate finance is an umbrella term for financial resources such as loans, grants, or domestic budget allocations for climate change mitigation, adaptation or resiliency. Finance can come from private and public sources. It can be channeled by various intermediaries such as multilateral development banks or other development agencies.
A last-minute $300bn climate finance deal has been secured at Cop29 after a dramatic day of prolonged negotiations, which saw walkouts by vulnerable nations and protests echoing through the corridors.
The climate change policy of the United States has major impacts on global climate change and global climate change mitigation.This is because the United States is the second largest emitter of greenhouse gasses in the world after China, and is among the countries with the highest greenhouse gas emissions per person in the world.
The most recent financial commitment, made at COP15 in Copenhagen in 2009, called on wealthy countries to send $100 billion in annual climate finance to the Global South beginning in 2020.
The ambitious new target aims to cut US climate pollution to 61-66% below 2005 levels by 2035, which would have been a challenge even if voters had elected another Democratic president.
The insurance industry has been criticized by environmental activists and Democratic Party lawmakers for continuing to provide coverage to fossil fuel companies, while Republican Party lawmakers have criticized the industry for curbing policy coverage to oil-and-gas companies (even though most U.S. insurance companies have generally refrained from doing so in contrast to insurers ...
Under the rules, public companies are required to report climate risks that may have a material impact on business strategy, results of operation, or financial condition—for now at least.