The US presidential climate envoy, John Kerry, said that despite the nearly $1 trillion in funding that global charities have provided for various causes over the past few years, only 2% of that amount goes to climate action.
Kerry said in a panel discussion at the World Economic Forum in Davos on Tuesday that about $7.5 billion to $12.5 billion in global philanthropy is directed to climate action alone, according to US News.
Kerry urged charities around the world to work together and contribute more to climate action, stressing that funding is the most important factor in keeping global climate goals alive.
For her part, USAID Administrator Samantha Power announced that the agency will provide more support to the Global Trade Facilitation Alliance.
Power explained, during a panel discussion on democracy during the World Economic Forum meeting in Davos, that this support program was developed in conjunction with the forum, in cooperation between the US Agency for International Development and other government agencies. Because business is difficult in some countries.
She added that the agency would increase support to Ecuador and Tanzania; Because of the serious steps taken by these countries in facilitating trade.
She said that many countries are taking difficult steps to address problems while trying to implement political reforms, and these efforts can be enhanced through public-private partnerships.
She urged companies to investigate investment opportunities in countries struggling for greater transparency and anti-democratic forces.
During a panel discussion at the Davos Forum, former US Vice President Al Gore stressed the urgent need to reform the multilateral development banks if the world is to rapidly decarbonise and achieve its climate goals.