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The US is putting its money where its mouth is on the climate change front.
The US Agency for International Development (USAID) announced Wednesday that it's committing $53 million to 23 cities in Asia, Africa, Latin America, and the Caribbean to fight climate change, Reuters reports.
The money will be used to implement President Obama's Emergency Plan for Adaptation and Resilience, which calls for $2.3 billion in additional adaptation finance from the private sector, according to a USAID press release.
The announcement came at the end of the United Nations Framework Convention on Climate Change, or COP 28, which was attended by nearly 200 countries.
The release notes that the US has committed $215 million to combating climate change through the Feed the Future initiative, but that figure has been surpassed by $100 million.
The Green Guarantee Company, a new company created by USAID, the UK's Foreign Commonwealth and Development Office, the Green Climate Fund, and the Nigerian Sovereign Investment Authority, plans to invest $100 million in the new company.
The Bill and Melinda Gates Foundation and the United Arab Emirates also pledged money at COP28 to help developing countries deal with climate change, the Guardian reports.
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