Trump Administration Cuts Threaten Nearly 10% of Global Climate Finance

The U.S. halts foreign aid programs and cancels billions in climate funding, jeopardizing international climate goals.

The Trump administration has paused U.S. foreign aid and plans to eliminate most USAID projects, potentially cutting $60 billion in aid, including $2.8 billion in climate finance from 2023.
Funding for the UN Green Climate Fund has been slashed by $4 billion, reducing U.S. contributions to levels below much smaller economies like Sweden.
Experts warn that these cuts could create a significant gap in meeting the $300 billion global climate finance goal agreed upon at COP29 last year.
USAID, which handles a significant portion of U.S. climate finance, has been targeted for closure, raising concerns about the impact on grant-based funding that supports adaptation in developing countries.
The administration’s withdrawal from international climate initiatives, including the Paris Agreement and the UN loss and damage fund, signals a shift in U.S. priorities away from global climate commitments.