Biden Admin to Pay Millions in Climate Change Reparations

The United States will contribute $17.5 million to a Climate Impact and Response Fund after reaching an agreement with other global leaders on Thursday at the COP28 conference in Dubai.

The deal was a historic one, reached on the first day of COP28 proceedings when many thought it could take the entire conference to agree on terms. Several countries contributed millions to the fund upon its adoption. Funds will be used to help the nations that are most impacted by the changing climate.

"We have delivered history today—the first time a decision has been adopted on day 1 of any COP," COP28 President Sultan Al Jaber said, according to a report by CNN .

COP28 President-Designate Dr. Sultan Al Jaber speaks onstage. On Thursday, global leaders agreed on a Climate Impact and Response Fund, to which the U.S. contributed $17.5 million, pending Congress approval.

Scientists and politicians alike continue to raise the alarm about the concerning impacts of global warming as more research reveals that climate change increases the severity of some natural disasters , ranging from floods and wildfires to hurricanes and drought. Some areas of the world are more at risk of suffering from the warming climate than others, and a recent study by Ipsos revealed that nearly four in 10 people—with much higher numbers reported in areas like Brazil, India and Turkey— believe they will lose their homes from impacts associated with the changing climate.

The U.S. was among the initial countries to donate to the new fund, although the $17.5 million pledge is dependent on Congress approval—a difficult feat given the state of the U.S. House, which recently elected a new speaker and has been riddled with infighting for months.