ABSTRACT

U.S. International Climate Finance: FY2023 [Updated May 9, 2022]   [open pdf - 562KB]

From the Document: "Over the past several decades, to varying degrees, the United States has delivered financial and technical assistance for climate change activities in the developing world through a variety of bilateral and multilateral channels with appropriations passed by Congress and implemented by the executive agencies. Climate finance is funded primarily through programs at the Department of State, the Department of the Treasury, and the U.S. Agency for International Development (USAID). Funds for these programs are requested in the President's budget under the International Affairs function (Function 150) and funded through the annual State, Foreign Operations, and Related Programs (SFOPS) appropriation. [...] U.S. Administrations have typically divided international climate finance into three main programmatic initiatives or categories: [1] 'Adaptation:' programs that aim to assist low-income countries with reducing their vulnerability to climate change impacts and building climate resilience. [2] 'Clean Energy:' programs that aim to reduce greenhouse gas emissions from energy generation and energy use by accelerating the deployment of clean energy technologies, policies, and practices. [3] 'Sustainable Landscapes:' programs that aim to reduce greenhouse gas emissions from deforestation and forest degradation. Congress oversees U.S. government assistance to lower-income countries for climate change initiatives. [...] With Executive Order (E.O.) 14008, 'Tackling the Climate Crisis at Home and Abroad,' of February 1, 2021 (86 'Federal Register' 7619), President Joe Biden directed that climate change 'shall be an essential element of United States foreign policy and national security. The United States will work with other countries and partners, both bilaterally and multilaterally, to put the world on a sustainable climate pathway.' As called for by the E.O., the United States released the U.S. International Climate Finance Plan."

Report Number:
CRS In Focus, IF12036
Author:
Publisher:
Date:
2022-05-09
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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