The announcement was made last week, on the last day of her tour in Thailand for the 21-member APEC Meeting.
She said, “Bold climate action is not only necessary to protect the people of our planet and our natural resources, but it is also a powerful driver of economic growth.”
The US Vice President had earlier stated that the administration would seek funding from the Congress for the Japan-US-Mekong Power Partnership (JUMPP), an initiative through which the two nations collaborate with other countries in the region to promote sustainable energy.
“In particular we know that the climate crisis presents a real threat to the communities who depend on the Mekong River. In Thailand, in Vietnam, Laos,” she added.
On the topic of protecting the environment, the United Nations Climate Change Conference COP27 also ended in Egypt recently with the historic decision of providing “loss and damage” funding for small island countries and low-lying nations like Bangladesh that were hit hard by climate disasters.
This agreement that took account of the damage was lauded by many participants as developing nations have had to bear the brunt of climate change caused by the greenhouse emissions of developed countries for many years.
“This outcome moves us forward,” said Simon Stiell, UN Climate Change Executive Secretary. “We have determined a way forward on a decades-long conversation on funding for loss and damage – deliberating over how we address the impacts on communities whose lives and livelihoods have been ruined by the very worst impacts of climate change.”
A transitional committee will be put in place to overlook the details of the funding and its dissemination, “including how the fund fits with billions of climate financing that wealthy nationals are already providing”, said Vicente Paolo Yu, a Filipino lawyer, and lead negotiator on loss and damage for developing countries.
