Oxfam reaction to Obama administration planned $3 billion pledge to the Green Climate Fund at the G20

Multiple reports this morning indicate that the Obama administration plans to announce a $3 billion pledge to the Green Climate Fund at the G20 in Australia this weekend. These reports are consistent with the information Oxfam has received over the last few days.

Leaders of the Green Climate Fund have been aiming for a $10-15 billion initial “capitalization” before the Lima talks begin in December. If the fund reaches $10 billion, a $3 billion pledge from the US would be just shy of its estimated “fair share” of 32%. This is roughly equivalent to the percentage that the US provides to funds like the Global Fund for Aids, Tuberculosis and Malaria. Current pledges add up to approximately $3 billion with additional commitments expected at next week’s pledging conference in Berlin, Germany.

Oxfam will analyze the details of the pledge when it is made public to understand its full significance. In response to the reports of a planned $3 billion pledge, Heather Coleman, climate program manager for Oxfam America said:

“A $3 billion dollar US pledge to the Green Climate Fund would be an important show of American leadership to help the most vulnerable people in the world protect themselves from dangerous climate impacts and to ensure a coordinated global response to climate change. We have already seen billions of dollars in damages, and thousands of lives lost to increasingly extreme and unpredictable weather from New Jersey to the Philippines.

The Obama administration should be applauded for taking action and putting real resources on the table to help protect our children’s future and invest in greater security for all of us. This pledge can help ensure developing countries have the tools they need to grow in a low-carbon way and the confidence that America will do its part. “