Kerry's Promise of 'Millions' for Climate Damages Criticized by Activists - Bloomberg
John Kerry’s Promise of ‘Millions’ for Climate Damages Criticized by Activists - Bloomberg
Kerry’s Promise of ‘Millions’ for Climate Damages Criticized by Activists
- US responsible for roughly a quarter of historical emissions
- Nations bearing brunt of warming seek $100 billion annually
A US offer of several million dollars to address losses and damages caused by global warming is raising the ire of activists as some nations contend with flooding and other consequences of climate change.
US Special Presidential Envoy for Climate Change John Kerry made the offer at the Bloomberg New Economy Forum in Singapore last week, promising— without specifics — that the US would contribute to the new Loss and Damage Fund at the upcoming COP28 summit in Dubai.
Have a confidential tip for our reporters? Get in Touch
Before it’s here, it’s on the Bloomberg Terminal
LEARN MORE
Up Next
Kerry’s Promise of ‘Millions’ for Climate Damages Criticized by Activists
Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.