US Withdrawal from Key Climate Loss and Damage Fund: What It Means for Our Planet

The Trump administration has officially announced its exit from the international climate Loss and Damage Fund. This fund is meant to support poorer nations affected by climate disasters caused by pollution from wealthier countries.

On March 10, climate experts criticized this decision. They argue that withdrawing from the fund goes against the US’s responsibility to help nations suffering from extreme weather linked to fossil fuel usage. A Treasury spokesperson mentioned a resignation regarding the fund but did not explain the withdrawal.

Mohamed Adow, founder of Power Shift Africa, expressed disappointment. He stated, “It’s a great shame to see the US going back on its promises. This decision will result in great suffering for some of the poorest and most vulnerable people in the world.”

When the fund was created in 2022, President Biden had pledged $17.5 million from the US, the largest historical emitter of carbon dioxide. However, several countries with lower emissions, including France, Italy, and the UK, have pledged much more funds, with Italy and France leading with contributions of $104 million each. As of January, the fund had received a total of $741.42 million in pledges.

Rachel Cleetus, from the Union of Concerned Scientists, called the withdrawal “a cruel action.” She pointed out that wealthier countries, like the US, are abandoning their duties to those who contribute least to climate change yet suffer the most.

Many poorer nations view this fund as a matter of environmental justice. The concept faced resistance from the US and other rich nations until its approval in 2022, where they maintained it was not a form of reparations.

During the establishment of the fund, Seve Paeniu, Tuvalu’s finance minister, declared, “Three long decades and we have finally delivered climate justice.” He emphasized the importance of this fund for millions of people worldwide facing climate-related losses.

Since taking office, the Trump administration has made significant cuts to environmental programs and international aid. It is also in the process of withdrawing from the Paris climate agreement and has recently pulled out of another climate initiative aimed at helping poor nations transition to cleaner energy.