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Working to ‘dramatically’ increase international climate financing: Biden

San Francisco, Nov 17 (PTI) President Joe Biden has said he is working with the US Congress to “dramatically” increase international climate financing, while emphasizing that the world is at a turning point. Standing on.

In his address to a select group of world leaders at the APEC Informal Dialogue and Working Lunch on Thursday, Biden said every economy is seeing signs of what is to come – drought, floods, rising sea levels and temperatures, and unpredictable weather. Pattern – -If no action is taken.

“Our world stands at an inflection point, a point where the decisions we make are going to determine the outcome of the next several decades, not just for some of our countries but for the direction of the world,” Biden said.

“Nowhere is this more true than when it comes to climate. Every economy around this table, every one of us, faces this challenge. And as I’ve said before, this is the single most existential threat to humanity. We either got this right or there wouldn’t be a lot of people around to talk about it.

“As a region, we are responsible for the largest share of global emissions, the region we’re talking about here around this circular table, so we must also take responsibility for the solutions while we have them right now.” It’s also time to change course,” she said.

India’s Commerce and Industry Minister Piyush Goyal was one of two guest leaders at the APEC dialogue along with Colombia’s President Gustavo Petro.

APEC leaders attending the working lunch included Australia’s Anthony Albanese, Canada’s Justin Trudeau, China’s Xi Jinping, Indonesia’s Joko Widodo, Japan’s Kishida Fumio, South Korea’s Yoon Suk Yeol, Malaysia’s Dato Seri Anwar bin Ibrahim Were included. Ferdinand R. of the Philippines Marcos; Lee Hsien Loong of Singapore and Vo Van Thuong of Vietnam.

Biden said the US is on track to meet the 1.5-degree alignment goal by cutting emissions by 50 percent by 2030 and that it will help countries around the world reduce the cost of clean energy and climate technologies by as much as 25 percent in some countries. I am helping. Area.

“But we can’t stop here. We have much more to do. You all know as well as I do that the effects of climate change are being felt most by those who have contributed the least to the problem. Let me say again, you know, the impacts of climate change are being felt most by the countries that contribute least to the problem, including developing countries,” he said.

“We have contributed much to the United States over the last 300 years. That’s why I’m working with our Congress to dramatically increase international climate financing. And this year, the world is on track to meet the climate finance pledge we collectively made under the Paris Agreement of USD 100 billion,” he said.

Biden said he is asking Congress for an additional US$25 billion to strengthen the role of multilateral development banks in fighting the climate crisis, starting with the World Bank because of climate, security, energy security and food Safety, everyone is concerned. as you all know. I’m not telling you anything you don’t already know.

“Also, we focused on ending deforestation. Forests are the key to our future. In the United States alone, they absorb 10 percent of our greenhouse gas emissions as of today. We are also working with partners to mobilize USD 1 billion to conserve the Amazon and other critical ecosystems in Latin America,” he said.

Biden encouraged all participating leaders to take strong national action because it will take all of them to meet this moment.

“With the right commitments from every economy here, we can limit warming. We can build a new energy future and leave no one behind and we can transform this moment from great risk to a moment of great possibility,” he said. PTI LKJ RHL

(This story is published as part of an auto-generated syndicated wire feed. No edits to the headline or body have been made by ABP Live.)



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