Biden announces $ 3 billion in climate finance to tackle droughts and floods in poor countries

The president of the United States, Joe Biden, has assured that the world faces a “decisive decade” because the world has “limited time” to act against climate change and that his country “is here” despite the disagreement within your country on its ambition to direct billions of dollars toward renewable energy.

“The science is clear. We only have a brief window left before increasing our ambitions,” said the US president in his speech at the event of world leaders at the opening of the XXVI Conference of the Parties of the Framework Convention on Climate Change of the UN that is celebrated in Glasgow (United Kingdom).

Thus, he stressed that his country “has returned to the table” of the climate negotiations – after his predecessor, Donald Trump, withdrew the North American country from the Paris Climate Agreement.

Thus, it has announced its proposal to allocate a total of $ 3 billion annually from 2024 to financing vulnerable countries to help them adapt to rising sea levels, droughts, floods and other consequences of global warming.

This funding could be part of the $ 11.4 billion that Biden has already pledged for annual climate finance in 2024, but which is pending annual approval by Congress. If anything, it is the first time that it has put a price on the adaptation effort, which is critical in particular for island states and other vulnerable countries, as analyzed by Bloomberg.

Last week the US president announced the largest investment in history in his country to reduce greenhouse gas emissions by around one gigaton in 2030, something that is still a draft proposal at the national level after months of negotiation .

In fact, the United States Senate stopped the ratification of the Kyoto Protocol in 1997 (the first multilateral agreement to reduce CO2 emissions) and supported Trump’s proposal to withdraw the country from the Paris Agreement.

It has advanced that the United States will make “more announcements” during the COP26 in the matter of forests, agriculture and methane

However, before COP26 Biden has assured that “the United States will show the world that it has not only returned to the negotiating table, but hopefully it will lead by example.”

“I know that has not been the case and that is why my administration is working in an extraordinary way to show that our commitment to climate action is action, not words,” has defended Biden who has recognized that “there is no more time to be left behind or to sit among the undecided “or to argue with each other.

In doing so, he has stated that high energy prices only underscore the need to diversify electricity sources and adopt new clean energy technologies.

For this reason, he has promised efforts to boost climate finance to limit the greenhouse gas emissions curve and has advanced that the United States will make “more announcements” during COP26 on forests, agriculture and methane.

“God save the planet,” Biden concluded in his speech at the high-level meeting, in which he asked for “forgiveness” for the fact that the United States, during the Trump administration, left the Paris Agreement.