Speaking at the University of Queensland in Brisbane, Australia on Shabbos, President Barack Obama vowed to contribute $3 billion from the U.S. Treasury to the United Nation’s Green Climate Fund.
“We are going to contribute $3 billion to the Green Climate Fund so we can help developing nations deal with climate change,” said Obama.
The Green Climate Fund says that it aims to promote a “paradigm shift” in the use of energy and in development.
“The Fund will contribute to the achievement of the ultimate objective of the United Nations Framework Convention on Climate Change (UNFCCC),” the fund says on its website. “In the context of sustainable development, the Fund will promote the paradigm shift towards low-emission and climate-resilient development pathways by providing support to developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change, taking into account the needs of those developing countries particularly vulnerable to the adverse effects of climate change. The Fund will be guided by the principles and provisions of the Convention.”
This fund to which Obama intends to funnel $3 billion in U.S. taxpayer money lists among its board members Ziqian Liang, the deputy director general of the International Department of the Ministry of Finance of the People’s Republic of China. It also lists as board members Ayman Shasly, and international policies consultant with the Ministry of Petroleum and Mineral Resources of Saudi Arabia; and Jorge Ferrer Rodriquez, a minister counsellor with the Multilateral Affairs and International Law General Division of the Ministry of Foreign Affairs of Cuba.
“We cannot forget the need to lead on the global fight against climate change,” Obama said in his speech at the University of Queensland.
“Here in the Asia Pacific, nobody has more at stake when it comes to thinking about and then acting on climate change,” Obama said. “Here, a climate that increases in temperature will mean more extreme and frequent storms, more flooding, rising seas that submerge Pacific islands. Here in Australia, it means longer droughts, more wildfires. The incredible natural glory of the Great Barrier Reef is threated. Worldwide, this past summer was the hottest on record. No nation is immune, and every nation has a responsibility to do its part.” Read more at CNS NEWS.