U.S. President Joe Biden on Friday told the U.N. Climate Change Conference, or COP 27, that the global climate crisis "is about the very life of the planet" and that the United States is "putting its money where its mouth is" to address it.
In his speech to the world leaders and policymakers gathered in the Red Sea resort of Sharm el-Sheikh, Egypt, he touted the U.S. efforts — many of which he has driven — to address climate change, saying the U.S. is "proving a good climate policy is [a] good economic policy, is a strong foundation for durable, resilient, inclusive economic growth."
Biden told the conferees that because of the actions the U.S. and his administration have taken, "I can stand here as the president of the United States of America and say with confidence: The United States of America will meet our emissions targets by 2030."
The U.S., as a signatory to the 2015 Paris Climate Agreement, agreed to cut greenhouse gas emissions 50% to 52% below 2005 levels by 2030. Biden also apologized for the U.S. exit from the Paris agreement. Former President Donald Trump pulled the U.S. out in 2017, a decision Biden quickly reversed after taking office.
Biden acknowledged these are difficult times for the entire world with Russia's invasion of Ukraine exacerbating food shortages, raising energy costs and driving up global inflation. He argued that these very facts make it "more urgent than ever that we double down on our climate commitments."
He said, "Russia's war only enhances the urgency of the need to transition the world off its dependency on fossil fuels."
At one point, Biden was interrupted by a loud shout in the back of the room. Reporters said it came as protesters pulled up a banner, which was immediately removed by security. After the brief interruption, Biden returned to his speech.
Biden went on to announce, in cooperation with the European Union and Germany, a $500 million package to finance and facilitate Egypt's transition to clean energy. He said the package was designed to help Egypt to deploy 10 gigawatts of renewable energy by 2030 to replace inefficient gas-powered facilities, reducing emissions by 10%.
Biden concluded his marks by urging his fellow world leaders to "take the future in our hands and make the world we wish to see and that we know we need — a planet preserved for generations to come."
Following his speech, Biden left for Cambodia for the Association of Southeast Asian Nations meeting. On Sunday, he will travel to the Group of 20 economic summit in Bali, Indonesia.
Some information for this report came from The Associated Press, Reuters and Agence France-Presse.
