401kRollover Blog

A forthcoming U.N. resolution has proposed that developed countries will each donate 1% of their Gross Domestic Product (GDP) to the Green Climate Fund, designed to assist “underprivileged nations” in their “fight” against climate change. Under Section 96 of the proposal, these pledges will begin from 2020. The current U.S. GDP is around $17.5 trillion, which would make our annual pledge $175 billion. Obama has already agreed to a payment of $3 billion, as the proposal stipulates the countries involved need to also make pre-2020 pledges.

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