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Biden wants $3 billion of United States Climate Finance for Adaptation

Find out the various steps and measures that will be taken by President Joe Biden's administration towards fulfilling the pledge at the climate talks.

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Biden wants $3 billion of United States Climate Finance for Adaptation

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  1. Biden wants $3 billion of United States Climate Finance for Adaptation According to Bloomberg News, President Joe Biden wishes for $3 billion per year of US climate finance to incur on helping the nations that are vulnerable to enable them to adapt to the droughts, rising sea levels, and other fallouts because of global warming. This is Biden’s pledge, which he will be presenting in front of the other heads of states at the COP26 climate summit in Glasgow, Scotland, Monday. This is another instance when the United States is committing to countering and fighting off the consequences of climate changes reports Bloomberg News. This is just one of the several steps Biden has taken as he plans to restore the credibility of the United States on climate, which was damaged by former President Donald Trump’s action, wherein he withdrew from the Paris Agreement.

  2. This planned funding for adaptation was described in a White House fact sheet but would need congressional approval. This funding is part of the President’s promise to provide $11.4 billion for climate finance every year by 2024. Yet, this is the first time that Joe Biden is applying a price tag on the efforts of adaptation, which is crucial and critical for the island nations and the other countries that are vulnerable.

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