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COP28: Kamala Harris says US will contribute $3 billion to Green Climate Fund

10:21 PM | 2 Dec, 2023
Kamala Harris at COP28
Source: Vice President Kamala Harris

DUBAI – In the first such pledge since 2014, Vice President Kamala Harris told the UN's COP28 conference on Saturday the United States would contribute $3 billion to a global climate fund. 

 Harris told the climate summit in Dubai, "Today, we are demonstrating through action how the world can and must meet this crisis."

The new money, which must be approved by the US Congress, will go into the Green Climate Fund (GCF), which was created in 2010. 

The last US contribution to the fund for developing countries was made under then President Barack Obama, who committed $3 billion in 2014. 

US President Joe Biden sent Harris in his place to COP28. 

The world's biggest climate fund funnels grants and loans for adaptation and mitigation projects in developing countries, such as solar panels in Pakistan or flood management in Haiti. 

Prior to the US announcement, $13.5 billion had been pledged to the GCF. 

The failure of wealthy nations to fulfil financial pledges to help developing nations cope with climate change has fuelled tensions and mistrust at climate negotiations. 

Developing countries least responsible for climate change are seeking support from richer polluting nations to adapt to the increasingly ferocious and expensive consequences of extreme weather, and for their transitions to cleaner energy sources. 

The GCF plays a part in a separate promise by rich countries to supply $100 billion of climate financing to poorer nations annually. But that pledge was only likely met in 2022, two years late. 

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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