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Biden said the US is “putting our money where our mouth is” and detailed his administration’s policies and support to help other countries deal with the effects of climate change.
“The upheaval we’re seeing around the world, especially Russia’s brutal attack against Ukraine is exacerbating food shortages, and energy spikes and costs, increasing volatility in those energy markets, driving up global inflation,” Biden said. “Against this backdrop, it’s more urgent than ever that we double down on our climate commitments. Russia’s war only enhances the urgency of the need to transition the world off its dependence on fossil fuels.”
Still, the president’s attempted assurances came even as senior members of his own administration acknowledged that Republican gains would likely doom efforts to underwrite international climate finance with $11.4 billion in direct funding.
Biden promised world leaders he’d deliver that money by 2024, more than a decade after the US and other rich countries promised $100 billion in annual finance for developing nations to build greener infrastructure and adapt to the intense storms, punishing heat waves and droughts exacerbated by climate change.
US Special Presidential Envoy for Climate John Kerry warned attendees at the COP27 summit Tuesday that they’re “not going to see that money” if Republicans retake control of the House of Representatives. Republicans are inching closer to a House majority, while control of the Senate, which is currently in Democrats’ hands and split 50-50, remains up in the air.
Biden said other nations would also need to act alongside the US.
“To permanently bend the emissions curve, every country has to step up,” he said.
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