November 22, 2024 - During the 29th United Nations Framework Convention on Climate Change Conference of Parties (COP29), held from November 11 to 22, the United States Agency for International Development (USAID) revealed several initiatives and updates on its efforts to combat the climate crisis.
Blended Finance Partnerships
USAID announced a significant $53.7 million initiative aimed at driving private finance into hard-to-reach geographies and sectors. This funding is intended to catalyze investments in adaptation and resilience, natural climate solutions, and local businesses and finance institutions across regions from Colombia to Cambodia.
Early Warnings for All
Since 2022, an additional $50 million has been provided by USAID to support the Early Warning for All initiative through the President’s Emergency Plan for Adaptation and Resilience (PREPARE). This brings the total funding for the initiative to $83 million. The expanded support includes the implementation of flood and flash flood early warning systems in more than 30 countries.
Climate Smart and Disaster Ready
USAID has also announced $11.8 million for the Climate Smart and Disaster Ready program, supporting innovative and applicable adaptation solutions in regions at high risk for climate-related disasters. This program spans West Africa, Central America, Southeast Asia, South Asia, and the Pacific Islands, raising the total funding for this initiative to $16.2 million.
Green Energy Transition Across Asia
Among the notable initiatives, USAID has launched the U.S.-India Low Carbon Comfort Cooling Collective. This program aims to reduce stress on electricity networks and lower the costs and carbon emissions of cooling solutions amid increasing extreme heat. Additionally, USAID supports the first early retirement of a coal-fired power plant in Indonesia through the Indonesia Just Energy Transition Partnership and backs the development of the Direct Power Purchase Agreement in Vietnam, allowing businesses to use up to 100 percent renewable energy for the first time.
USAID and NASA's New Central America Hub
In collaboration with Congress, USAID announced a $6.6 million initial investment for a new Central America Hub for SERVIR, a flagship USAID-NASA partnership. This hub, launching in December, will develop Earth observation-based tools and services to help Central Americans prepare for and manage climate-related risks such as drought and wildfire.
Power Africa and Investment Mobilization Collaboration Alliance
Power Africa, working with Congress, committed up to $10 million over two years for the Investment Mobilization Collaboration Alliance’s Green Value Chains in Africa funding window. This investment, in collaboration with Denmark, Finland, Sweden, and Norway, aims to improve critical minerals value chains and increase the use of clean energy to support industrialization across Africa.
Women's Leadership in Climate Action
Finally, USAID committed $10.8 million to champion women's roles as decision-makers, stakeholders, educators, and experts in the climate crisis response, emphasizing economic leadership.
These initiatives underscore USAID’s ongoing dedication to addressing climate change and promoting sustainable, resilient solutions globally.
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