CIRCA 2017---Barack Obama transfers $500m to Green Climate Fund to protect Paris deal last days in office;
That's Obama's second $500M withdrawn from State Dept using executive powers; bypassing congressional support.
Michael Slezak / Tue 17 Jan 2017 / Last modified on Wed 14 Feb 2018
Barack Obama has transferred a second $500m installment from the State Dept to the Green Climate Fund just three days before he leaves office. Photograph: Evan Vucci/AP Barack Obama has heeded calls to help secure the future of the historic Paris agreement by transferring a second $500m instalment to the Green Climate Fund, just three days before he leaves office. The fund was a key aspect of the Paris agreement signed in 2015, which aims to keep global warming “well below” 2C and aspires to keep warming to 1.5C. Established in 2010, it is financed by wealthy countries and used to assist developing countries with adaptation and mitigation. It was widely seen as a key measure to bring both rich and poor countries to the negotiating table. The US committed to transferring $3bn to the fund. The new installment leaves $2bn owing, with the incoming president, Donald Trump, expected to cease any further payments.
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The $billion that made a short cut thru numbered accounts in a French Polynesian bank? (smirk)
