As one of his final acts as President of the United States, Barack Obama’s administration has given $500m to the UN Green Climate Fund. This donation brings the total funds to $1bn. In 2014, Mr. Obama pledged the GCF $3bn to help tackled the effects of climate change. This is just a small amount compared to the $100bn that countries pledged to mobilise each year by 2020.

As the Obama Administration is being replaced by new President Donald Trump, the status of the US’s commitment to fighting climate change remains to be seen. President Trump, a self-proclaimed climate sceptic, has threatened to pull the US out of the Paris accord and America’s commitment to the fund.

Rex Tillerson, former chief of ExxonMobil and the new president’s nominee as secretary of state has stated that he wants the US to keep “a seat at the table” regarding global warming.

While the positioning of the US towards its climate commitments remains to become more clear. It remains to be seen how this new government will impact all aspects of the UNFCCC and climate finance more generally. The newly established Hydrogen Council, that has pledged $10.7 billion on hydrogen development, is composed of some of the automotive and energy industry’s premier giants. As industry starts to change its rhetoric, the impact on Trump’s climate policy may be of note in the months to come.

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