President Joe Biden has said that he is working with the US Congress to \u201cdramatically\u201d increase international climate financing while asserting that the world stands at an inflexion point. 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\u2019s to come \u2014 droughts, floods, rise in sea levels and temperatures, and unpredictable weather patterns \u2014 if action is not taken. \u201cOur world stands at an inflexion point, a point where the decisions we make now are going to determine the course of the world, not just a few of our countries, for the next several decades of consequence,\u201d Biden said.<\/p>\n
\u201cNowhere is that more true than when it comes to climate. Every economy around this table faces this challenge, every one of us. And as I\u2019ve said before, it\u2019s the only existential threat to humanity. We either get this right or there\u2019s not going to be a whole lot of people around to talk about it. \u201cAs a region, we\u2019re responsible for the largest share of, the region we\u2019re talking about here around this circular table, of global emissions, so we must also bear responsibility for the solutions while we still have time to change course,\u201d he said. India\u2019s Commerce and Industry Minister Piyush Goyal was one of the two guest leaders along with President Gustavo Petro of Columbia at the APEC dialogue.<\/p>\n
The APEC leaders who attended the working lunch were Anthony Albanese from Australia, Justin Trudeau of Canada, Xi Jinping of China, Joko Widodo of Indonesia, Kishida Fumio of Japan, Yoon Suk Yeol of South Korea, Dato\u2019 Seri Anwar bin Ibrahim of Malaysia, Ferdinand R. Marcos of Philippines; Lee Hsien Loong of Singapore and Vo Van Thuong of Vietnam. Biden said the US is on track to achieve 1.5-degree alignment goal by cutting emissions by 50 per cent by 2030 and it is helping lower the cost of clean energy and climate technologies for nations around the world by as much as 25 per cent in some areas.<\/p>\n
\u201cBut we can\u2019t stop here. We have so much more work to do. You all know as well as I do that the impacts of climate change are being felt most by those who have contributed the least to the problem. Let me say that again, you know the impacts of climate change are being felt the most by those countries that contribute the least to the problem, including developing countries,\u201d he said. \u201cWe contributed a lot here in the United States over the last 300 years. That\u2019s why I\u2019m working with our Congress to dramatically increase international climate financing. And this year, the world is on track to meet the climate finance pledge that we made under the Paris Agreement of USD 100 billion collectively,\u201d he said.<\/p>\n
Biden said he has also asked Congress for another USD 25 billion to strengthen the role of the multilateral development banks in fighting the climate crisis, as well as starting with the World Bank because climate, security, energy security, and food security, are all related, as all of you know. I\u2019m not telling you anything you don\u2019t already know. \u201cOn top of this, we focused on ending deforestation. Forests are key to our future. In the United States alone, they absorb 10 per cent of our greenhouse gas emissions as they stand today. We\u2019re also working with partners around the table to mobilise USD 1 billion to conserve the Amazon and other critical ecosystems in Latin America,\u201d he added.<\/p>\n
Biden encouraged all the participating leaders to take strong national actions because it would take all of them to meet this moment. \u201cWith the right commitments from every economy here, we can limit warming. We can build new energy futures and leave no one behind and we can turn this moment from great peril into a moment of great possibility,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Joe Biden has said that he is working with the US Congress to \u201cdramatically\u201d increase international climate financing while\u2026<\/p>\n","protected":false},"author":28,"featured_media":11530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3106,3330,539,747,3329,3328,101,3331],"class_list":["post-11529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apec","tag-carbon-emissions","tag-climate-change","tag-congress","tag-conserving-ecosystems","tag-financing","tag-joe-biden","tag-threat-to-humanity"],"reading_time":"4 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/11529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=11529"}],"version-history":[{"count":0,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/11529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/11530"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=11529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=11529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=11529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}