POLITICS
11/14/2014 09:47 am ET Updated Jan 14, 2015

Obama To Pledge $3 Billion For International 'Green' Fund

MANDEL NGAN via Getty Images

WASHINGTON, Nov 14 (Reuters) - President Barack Obama on Friday will announce a $3 billion U.S. contribution to the green climate fund, an international effort to help poor countries cope with the affects of climate change, according to an administration official.

Obama is expected to announce the pledge at this weekend's meeting of G-20 industrial nations in Australia.

The contribution would make the second major move on climate change taken by Obama after big Democratic losses in last week's midterm elections.

The United States would join other countries, including Mexico, South Korea, Germany, France, and Japan, in pledging to the fund.

The fund will work in step with private sector investment and help spur global markets in clean energy technologies, creating opportunities for entrepreneurs and manufacturers including those from the United States. (Reporting by Timothy Gardner and Ros Krasny; Editing by Susan Heavey)

HuffPost

BEFORE YOU GO

PHOTO GALLERY
Landmarks That Climate Change Could Ruin