Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

U.S. details $6 billion in pledges for climate, ocean investments

Published 03/03/2023, 03:23 PM
Updated 03/03/2023, 04:56 PM
© Reuters. FILE PHOTO: U.S. Special Envoy for Climate John Kerry speaks during the 2023 Our Ocean Conference, in Panama City, Panama March 2, 2023. REUTERS/Aris Martinez

By Milagro Vallecillos and Brendan O'Boyle

PANAMA CITY (Reuters) -  The U.S. State Department on Friday gave details on $6 billion in funding commitments around the world to protect oceans and fight climate change.

The amount was first announced Thursday by Washington's climate envoy John Kerry at an oceans conference in Panama and encompasses 77 different commitments, the U.S. State Department said in a press release on Friday.

The total includes some $3 billion in climate resilience and climate research commitments that were part of the Inflation Reduction Act passed by Congress last year, according to the State Department.

The commitments also include more than $665 million for sustainable fisheries and more than $200 million tackling marine pollution.

"The climate crisis and the ocean crisis are one and the same. We cannot fully address one without the other," Kerry said Thursday at the "Our Ocean 2023" conference, which brought together private and public sector representatives from over 190 countries.

Of the 77 commitments, 30 are directed at climate change, amounting to about $5 billion of the total.

Some of the pledges still require authorization by the U.S. Congress.

Washington's announcement comes alongside the European Union's announcement Thursday of commitments worth 816.5 million euros ($867.45 million).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.