U.S. to lead on international climate finance?

A joint report from the Center for American Progress and the Alliance for Climate Protection recommends U.S. investment in an international adaption fund for developing nations.

The United States can restore its international credibility and help to close more than half the gap in global climate ambition by leading a new international partnership to scale up emissions mitigation measures of developing nations. The partnership must supplement, not become a substitute for, far stronger domestic policies to reduce U.S. emissions. This international partnership will require combining technical expertise, innovative thinking, political determination, and, importantly, new financial resources to help reduce the costs of green growth and low-emissions development in developing nations.

Most importantly for policymakers, the report summarises that the investment will reap great rewards for the future security of the United States. American firms will “capture a substantially larger share of global clean energy markets,” “risks climate-related national security threats” in unstable regions will be reduced, and “there will be billions of  dollars in reduced climate impacts in the United States.”

The full report is available (pdf) here.

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