“US President Joe Biden has pledged to increase US and national funding for adaptation by six times in 2021. We can reach USD 3 billion annually by 2024 and we are ready to do it,” said John Podesta, Senior Advisor to the U.S. President for International Climate Policy, said at the Climate and Development Ministerial Conference held as part of PreCOP, APA reports.
He pointed out that efforts are being made to improve adaptation so that countries can invest in their future and respond to disasters when necessary, as well as to improve fiscal space:
“Notably, that funding includes the creation of early warning tools available to developing countries that can significantly reduce the costs of extreme weather events. For more than a decade, the United States has provided resources to developing countries to formulate and implement their national adaptation plans.”
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