Obama announces $3 billion payment to ‘Green Climate Fund’

Obama announces $3 billion payment to ‘Green Climate Fund’

President Obama has officially announced the U.S. will contribute $3 billion to a international pool of money aimed at helping developing countries deal with the impact of climate change.

In a speech delivered at the University of Queensland in Brisbane, Australia, Obama said the money would paid into the “Green Climate Fund” and used to help “vulnerable communities,” build early warning systems, storm surge defenses and other “climate-resilient” infrastructure.

The Washington Examiner reported Friday that Obama was expected to make the announcement in order to increase support from other countries in advance of next year’s climate talks in Paris, France.

Obama dedicated a significant part of his remarks to climate issues, telling the crowd the money would help third-world nations develop green energy plans that would “let them leap-frog some of the dirty industries that powered our development, go straight to a clean-energy economy that allows them to grow, create jobs and at the same time reduce their carbon pollution.”

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