US Pushes for Weaker Global Deal on Climate and Financial Reforms

A leaked United Nations document has revealed that the United States is making efforts to weaken a global agreement aimed at assisting developing countries in managing climate change effects and other issues. The document showcases U.S. opposition to draft reforms in the global financial system, which are pivotal for developing countries.

The Trump administration has expressed its resistance to various initiatives, including those concerning taxation, credit ratings, and fossil fuel subsidies. It also seeks the removal of terms like 'climate,' 'gender equality,' and 'sustainability' from the document, attempting to enforce an 'America First' policy and potentially obstructing global initiatives against climate change.

The 4th International Conference on Financing for Development in Seville, Spain, is set to guide international development finance for the coming decade. However, U.S. pushback, notably backed by U.S. Treasury Secretary Scott Bessent, threatens to dilute these efforts by advocating alternative language and approaches that risk weakening the anticipated reforms.

(With inputs from agencies.)