Last week, the Biden Administration released a budget that included $11 billion in climate finance for developing countries, a fourfold increase compared to Obama-era climate finance levels. Close on the heels of the Administration’s FY23 budget request, the UN Intergovernmental Panel on Climate Change released a new report chronicling the insufficiency of current climate pledges, and once-again calling attention to the dire consequences of the current emissions trajectory. In particular, the report noted the significant risks posed to low-income countries by rising sea levels and more violent storms and the need to assist vulnerable countries in adapting to climate change.
To discuss the Administration’s efforts to reduce global carbon emissions and elaborate on U.S. policies to expand access to finance for sustainable development, CGD is pleased to welcome Secretary John Kerry, U.S. Special Presidential Envoy for Climate for a fireside chat. The virtual event will feature a one-on-one discussion between Secretary Kerry and CGD Board Member and PBS NewsHour anchor Judy Woodruff, followed by audience Q&A.
In the run up to the Spring Meetings of the World Bank’s Board of Governors, Secretary Kerry will address the bank’s role as a partner in climate finance, including how the institution can best mobilize developing country investments in climate change mitigation and adaptation.