Biden pledges $1B more in US funding for UN's Green Climate Fund

President Biden announced Thursday he will be convening a meeting of the Major Economies Forum on Energy and Climate and committing $1 billion to the U.N.'s Green Fund.

"At today’s meeting, the President will highlight new steps the United States is taking to meet its ambitious 1.5°C-aligned goal of reducing emissions 50-52 percent in 2030," the White House wrote in a press statement. Timothy Nerozzi is a writer for Fox News Digital. You can follow him on Twitter @timothynerozzi and can email him at timothy.nerozzi@fox.com

The statement continued, "The President will also announce significant new steps the United States is taking to support developing countries in taking stronger climate action — including providing $1 billion to the Green Climate Fund and requesting $500 million for the Amazon Fund and related activities — and invite other countries to join the United States and others in fully leveraging the multilateral development banks to better address global challenges, like climate change."