US Pledges $600Mln To Battle Environmental Threats Worldwide - Treasury Dept.

The Biden administration has pledged $600 million to help protect the global environment in line with its commitment to mitigate climate change, protect vulnerable ecosystems and reduce pollution, the departments of State and Treasury said in a joint press release on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 20th April, 2022) The Biden administration has pledged $600 million to help protect the global environment in line with its commitment to mitigate climate change, protect vulnerable ecosystems and reduce pollution, the departments of State and Treasury said in a joint press release on Tuesday.

"The US pledge will help protect tropical rain forests and other critical carbon sinks; address ocean plastics pollution; combat wildlife trafficking and illegal, unreported, and unregulated fishing; and reduce hazardous transboundary pollutants such as PCBs and mercury that can affect Americans' health," the release said.

The Biden administration has requested $150.2 million in its fiscal year 2023 budget for the Global Environmental Facility (GEF) as the first of four planned installments for the US contribution to so-called GEF-8, the release said.

The GEF is one of the world's largest funders of projects and programs seeking to improve the global environment. GEF leverages its resources to reduce and eliminate problems caused by chemicals and waste. It also focuses on mitigating climate change, land erosion, including deforestation and protecting arid regions like deserts from the effects of human activity and climate change.

In 1991, the United States backed the creation of the facility and contributed funding seven different times. Over the past 31 years, the GEF has disbursed almost $22 billion in grants and secured another $119 billion in co-financing directed to the protection of the global ecosystem.

The GEF Partnership includes 184 member governments, 18 implementing agencies, more than 500 civil society organizations, international bodies and funds, and businesses from every major sector.