Green Climate Fund Authorization Act of 2024

The Green Climate Fund Authorization Act of 2024 authorizes $4 billion in U.S. funding for each of fiscal years 2025 and 2026 to be contributed to the Green Climate Fund (GCF), a global multilateral fund supporting climate action in developing countries. The GCF, established in 2010, finances projects focused on reducing greenhouse gas emissions, adapting to climate impacts, and addressing climate-related losses and damages across nearly 130 countries. The bill requires U.S. contributions to align with environmental justice principles, including free prior informed consent from indigenous communities, gender equality, and respect for human rights in all funded projects. This authorization aims to fulfill U.S. international climate finance commitments, building on a prior pledge of $3 billion for the GCF’s second replenishment period.