Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

World is still waiting for U.S. climate target on eve of Biden summit

WorldApr 21, 2021 01:20PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
3/3 © Reuters. FILE PHOTO: U.S. President Biden speak at the White House in Washington 2/3

By Jeff Mason and Valerie Volcovici

WASHINGTON (Reuters) - The White House is still putting the finishing touches on its plan to cut U.S. greenhouse gas emissions by 2030, ahead of a summit this week with world leaders including Russia's Vladimir Putin and China's Xi Jinping.

President Joe Biden's administration has been pressing other countries to make ambitious targets to reduce their emissions but has yet to unveil its own plan. Before the summit begins on Thursday, the White House is expected to announce a target to cut emissions roughly 50% by 2030 compared with 2005 levels.

"Still a lot of time left before the summit starts," an administration official told reporters early on Wednesday when pressed about the target, known as a Nationally Determined Contribution or NDC.

The United States has been the largest historic emitter of greenhouse gasses and currently ranks second only to China. Its target will be watched closely as a signal of how seriously Biden takes climate change. He has promised to restore U.S. leadership on global warming after former President Donald Trump withdrew the country from the Paris climate accord.

Biden brought the United States back into the Paris agreement in January, and the two-day summit is designed to showcase a renewed U.S. and global commitment to limit planetary warming to 1.5 degrees Celsius above pre-industrial levels in order to prevent cataclysmic climate impacts.

A Biden executive order that will direct the U.S. Treasury and other key agencies to develop a strategy on climate-related risks for public and private financial assets was initially expected this week but is delayed, a source familiar with the situation said.

"In the next days and hours, many other increases of ambition will be articulated," Biden's international climate envoy John Kerry said at an event hosted by the Washington Post on Wednesday morning.

Over the last 24 hours, Kerry has announced measures that will help the United States reduce its share of global emissions including tackling emissions from shipping https://www.reuters.com/business/environment/us-join-global-effort-decarbonize-shipping-industry-kerry-2021-04-20 and a partnership with financial firms https://www.reuters.com/article/us-global-climate-finance-glasgow/carney-kerry-launch-global-finance-plan-to-boost-climate-action-idUSKBN2C80D0.

Activists, some corporations and other world leaders want an aggressive U.S. target, and some reacted early to say a roughly 50% cut would not be sufficient.

"While many will applaud the president’s commitment to cut U.S. emissions by at least half by 2030, we have a responsibility to tell the truth: it is nowhere near enough," said Evan Weber, political director of influential youth activists group the Sunrise Movement, adding that reported pledge "will be a death sentence for our generation and the billions of people at the frontlines of the climate crisis in the U.S. and abroad."

Leaders from across the globe are participating in the summit, which will be held virtually because of the COVID-19 pandemic.

World is still waiting for U.S. climate target on eve of Biden summit
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email