![]() Poorer regions can replicate policyįirst, it lowers the costs of climate action through so-called policy learning.ĭesigning, developing and piloting new policies takes time and money.īy developing policies to combat climate change, American cities and states can lower the costs of climate action for other sub-national governments. In fact, climate policy in American cities and states can have global impacts in two key ways. is irrelevant for global climate finance more broadly. However, that doesn’t mean local action in the U.S. It’s not likely that California or New York City will pay into the GCF on the White House’s behalf. However, only a billion dollars was delivered by the time the Trump administration announced the pullout. The Obama administration pledged $3 billion to the fund from the U.S., making it the single largest contributor. The fund provides grants, loans and equity financing for adaptation and mitigation efforts in developing countries. meets its domestic goals, the administration’s policy shift leaves a gaping hole in the Green Climate Fund (GCF).
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