: Will Joe Biden’s Billion Pledge Convince the World the U.S. Can Lead on Climate? #WorldNEWS President Joe Bidens remarks to the United Nations General Assembly on Tuesday contained much of the
Will Joe Biden’s Billion Pledge Convince the World the U.S. Can Lead on Climate? #WorldNEWS
President Joe Bidens remarks to the United Nations General Assembly on Tuesday contained much of the same lofty rhetoric that pervades a lot big speeches about climate change: calls for urgent action, paired with dire warnings of worsening droughts and floods that will bring chaos and destruction across the globe.
But amid the familiar tropes was a pledge that climate policymakers hope will provide real momentum to international climate talks set to take place in Glasgow, Scotland, this fall: a commitment to double the money the U. S. will spend each year to help developing countries tackle climate change. This will make the United States a leader in public climate finance, Biden said.
The new annual commitment—some billion—is small in the scheme of Americas massive federal budget, but it could give the rest of the world a much-needed boost of confidence that the U. S. can finally be taken seriously as a climate leader. “This is the ticket for admission, U. S. climate envoy John Kerry told TIME in an interview on Sept. 20 in New York. If we dont do this, we will not have credibility in Glasgow.
With a little over a month remaining before more than 100 heads of government are expected to gather for COP 26, the talks have widely been acknowledged to be far behind where they should be, with key countries yet to produce new plans to reduce their emissions. Many climate leaders hope Bidens announcement will break the deadlock over financing climate initiatives and catalyze a sprint to the finish line with other countries ramping up their own plans to cut emissions. “It can help change the dynamic, Kerry said. It can be an important step. ”
The debate over how much the U. S. should spend to help developing countries with their climate agendas began long before Biden took office. During the 2009 UN climate conference, developed countries, including the U. S. , committed to sending 0 billion annually to their developing counterparts to help them pay for their climate initiatives beginning in 2020.
The plan was ambitious, but the details were vague. Money could flow from both public and private sources, and commitments could come from individual countries as well as multilateral institutions. President Barack Obama offered an initial commitment of billion in 2014 to a UN-run climate fund for developing countries—a sum that was decried as insufficient and, ultimately, never fully delivered as Trump withdrew the U. S. from its global climate commitments.
So when Biden entered office promising to help lead an aggressive global fight against climate change, one of the first questions his team received was when the U.
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