The United States will release an extra billion dollars for the Green Climate Fund. With this fund, the richer countries finance initiatives to assist developing economies in the transition to cleaner energy.
“The impacts of climate change will be felt most by those who have contributed least to the problem, including the developing world. As big economies and big polluters, we must support these economies,” Biden says.
According to the US president, progress still needs to be made in various areas to prevent the earth from warming up by more than 1.5 degrees Celsius. For example, it is important to reduce CO2 emissions in the energy and transport sector, to stop global deforestation and to control greenhouse gas emissions such as methane.
With a view to the climate summit in Dubai at the end of this year, all participants must also take measures to achieve the Paris climate goals by 2030, Biden emphasizes. “We need to take our ambitions to the next level,” he says. “We must commit to action while we still have time.”