President Biden finished his two-day virtual climate summit today by announcing a host of new climate initiatives and being supported by billionaires, CEOs, and unions as he preaches a green economy which will create jobs, rather than take them away. While I will publish an in-depth review of the entire summit soon, here are the key points from today.
Key Points
Biden elaborated on his international climate finance plan, including a U.S.-India climate investment partnership.
Biden announced initiatives to support the green transition, including carbon offsets for aviation and shipping, and climate-smart green infrastructure investments,
Microsoft founder and philanthropist Bill Gates emphasized the importance of international climate cooperation and new technological innovation.
Leaders from Norway, Israel, and Denmark also announced their new electric vehicle and clean energy investment plans.
South Korea announced its plans to end public financing of coal power plants, paving the way for China and other coal-relying nations to do the same.
President Biden's climate summit was certainly successful, urging countries forward. But still, many countries are hesitant to support massive upheavals of their energy status quo. The U.S.'s climate financing plan for developing countries is a great start, but the members of the Major Economies Forum (MEF) make up about 80% of the world's emissions.
Stay tuned for in-depth reviews of the summit and Biden's 2030 reductions target on Saturday.