Attributable to Spokesperson Jessica Jennings:
During the 28th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28), Administrator Power announced new commitments from USAID and the private sector to further U.S efforts to address the impacts of the climate crisis and mobilize action to slow global warming.
Administrator Power began the day at the USAID and Prosper Africa led event on Mobilizing and Localizing Climate Finance. She discussed the importance of both increasing the total amount of climate finance and empowering greater local control over decision making in addressing the climate crisis, including through the Principles for Locally Led Adaptation. During this event, she announced that the U.S. government, via USAID and Prosper Africa, joined other investors including UK’s FCDO, the Nigerian Sovereign Investment Authority, and Norfund in launching the Green Guarantee Company, the first privately-run, market-led company providing investment grade guarantees to investors for climate finance in developing economies.
The Administrator joined Special Presidential Envoy for Climate John Kerry and business leaders to announce 21 new private sector commitments to invest in climate resilience. Their work in support of the President’s Emergency Plan for Adaptation and Resilience (PREPARE) will mobilize an estimated $2.3 billion in adaptation finance. These commitments were announced as part of the PREPARE Call to Action to the Private Sector, which was launched by Administrator Power and Secretary Kerry at COP27 to mobilize much-needed finance for climate adaptation.
She also met with Andrew Steer, President and CEO of the Bezos Earth Fund, to discuss opportunities to increase collaborative funding and support for partner governments to deliver on their commitments to implement their Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs). They also discussed the importance of supporting the historic announcement from Pacific Island States to create the world’s largest marine protected area.
The Administrator joined the Executive Director of the Green Climate Fund, Mafalda Duarte for a discussion on Advancing Low-Carbon and Climate-Resilient Solutions in Cities, where she spoke about the critical role of cities and municipal leadership in addressing the climate crisis. During this event, she announced investments in a new suite of low carbon and climate resilient urban activities across 23 cities in Asia, Africa and Latin America and the Caribbean, totaling $53 million.
On the margins of COP28, the Administrator met with United Arab Emirates’ Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan. They discussed the urgent humanitarian needs of Gaza and the U.S. commitment to the protection of civilians. With the UN Flash Appeal for Gaza only a third funded, the Administrator welcomed the UAE's generosity in providing support for people in Gaza. Their discussions also focused on addressing crises in Sudan and Somalia.
USAID at COP28
DUBAI, UNITED ARAB EMIRATES: NOV 30 – DEC 12, 2023 – The 28th Conference of the Parties to the U.N. Framework Convention on Climate Change (COP28) will bring together countries from around the world to increase ambition, implement existing goals, and strengthen commitments.