tion on Climate Change, Adoption of the Paris 
Agreement; 
(16) the $100,000,000,000 commitment de-
scribed in paragraph (15) was a political com-
promise that falls short of the actual financing needs 
for climate action in developing countries; 
(17) Bloomberg New Energy Finance has esti-
mated that the transition to renewable energy 
sources in developing countries will require hundreds 
of billions of dollars annually; 
(18) the United Nations Environment Pro-
gramme has estimated that adaptation needs relat-
ing to climate change in developing countries may be 
as much as $300,000,000,000 annually by 2030; 
(19) the Green Climate Fund was created in 
2010 by 194 countries to serve as a crucial financ-
ing mechanism to help developing countries limit or 
reduce greenhouse gas emissions and adapt to cli-
mate change; 
(20) in 2015, the United Nations Framework 
Convention on Climate Change agreed that the 
Green Climate Fund should serve the goals of the 
Paris Agreement, which states that ‘‘developed coun-
try Parties shall provide financial resources to assist 
developing country Parties with respect to both miti-
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gation and adaptation in continuation of their exist-
ing obligations under the Convention’’; 
(21) the Green Climate Fund is an essential in-
stitution for climate financing, as the Green Climate 
Fund ensures— 
(A) balanced governance between developed 
and developing countries; 
(B) stakeholder engagement and discourse; 
(C) a balanced approach between mitiga-
tion and adaptation; 
(D) fair and equal labor and working con-
ditions; 
(E) conservation of biodiversity and critical 
habitats; and 
(F) strong environmental, social, and gen-
der protections; 
(22) the Green Climate Fund— 
(A) promotes and protects human rights 
and the rights of marginalized groups, including 
indigenous peoples, women, children, and people 
with disabilities; and 
(B) continues to take steps to strengthen 
protection for marginalized groups; 
(23) 
the 
United 
States 
committed 
$3,000,000,000 of the first $10,000,000,000 raised 
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for the initial resource mobilization period of the 
Green Climate Fund, though only 1⁄3 of this pledge 
was fulfilled, leaving the United States the only 
country to fall substantially short of a commitment 
of a country to the Green Climate Fund; 
(24) pledges for the first replenishment period 
of the Green Climate Fund (‘‘GCF–1’’), covering the 
years 2020–2023, totaled $9.9 billion, without any 
participation from the United States; 
(25) almost all major contributors doubled the 
amount of their contribution from the initial re-
source mobilization phase for the GCF–1 replenish-
ment; and 
(26) the Green Climate Fund is a fully oper-
ational and proven institution supporting nearly 200 
projects and programs in developing countries 
around the world with a total value of $30.2 billion 
including co-financing. 
SEC. 3. STATEMENT OF POLICY. 
It is the policy of the United States to provide climate 
financing— 
(1) as an essential part of the global effort to 
combat climate change; and 
(2) that— 
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(A) upholds the principles of environmental 
justice and climate justice; 
(B) supports programs and projects devel-
oped by recipient countries and communities; 
(C) is designed and implemented with the 
free, prior, and informed consent of indigenous 
peoples and other impacted communities; 
(D) promotes gender equality as essential 
in all of the projects and programs supported 
by climate financing; 
(E) includes best practices for environ-
mental and social safeguards to ensure that 
projects and programs supported by climate fi-
nancing respect fundamental human rights; and 
(F) addresses both mitigation and adapta-
tion as essential aspects of responding to cli-
mate change. 
SEC. 4. AUTHORIZATION OF APPROPRIATIONS. 
(a) IN GENERAL.—There are authorized to be appro-
priated for contributions to the Green Climate Fund 
$4,000,000,000 for each of the fiscal years 2022 and 
2023. 
(b) SENSE OF CONGRESS.—It is the sense of Con-
gress that the climate financing needs to achieve the 
greenhouse gas emissions reductions required to keep the 
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planet at or below 1.5 degrees Celsius of global warming 
are significantly greater than the amount of funds author-
ized to be appropriated under subsection (a). 
SEC. 5. DEFINITIONS. 
In this Act: 
(1) CLIMATE FINANCING.—The term ‘‘climate 
financing’’ means the transfer of new and additional 
public funds from developed countries to developing 
countries for projects and programs that— 
(A) reduce or eliminate greenhouse gas 
emissions; 
(B) enhance and restore natural carbon se-
questration; and 
(C) promote adaptation to climate change. 
(2) GREEN CLIMATE FUND.—The term ‘‘Green 
Climate Fund’’ means the independent, multilateral 
fund— 
(A) established by parties to the United 
Nations Framework Convention on Climate 
Change; and 
(B) adopted by decision as part of the fi-
nancial mechanism of the United Nations 
Framework Convention on Climate Change. 
(3) PARIS
AGREEMENT.—The term ‘‘Paris 
Agreement’’ means the annex to Decision 1/CP.21 
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adopted by the 21st Conference of Parties of the 
United Nations Framework Convention on Climate 
Change in Paris, France, on December 12, 2015. 
Æ 
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