U.S. President Joe Biden announced significant climate initiatives on Sunday aimed at combating climate change.
During his visit to Brazil for the upcoming G20 Summit in Rio de Janeiro, Biden made history as the first sitting U.S. president to visit the Amazon rainforest. After touring the region, he pledged an additional $50 million contribution to the Amazon Fund, doubling the U.S. commitment to $100 million.
Speaking to the press, Biden emphasized that addressing climate change has been a “defining cause” of his administration, unveiling four key initiatives to tackle the crisis. He revealed plans for the U.S. Development Finance Corporation to mobilize hundreds of millions of dollars in partnership with a Brazilian company to reforest the Amazon.
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Biden also announced the launch of a bioeconomy finance coalition aimed at raising at least $10 billion by 2030 to restore and protect 20,000 square miles of Brazilian land. Furthermore, the U.S. will provide funding to support Brazilian President Luiz Inácio Lula da Silva’s new initiative, the “Tropical Forest Forever Fund.”
“It is in the interest of all of us. The U.S. benefits from it as much as any other country does, including here in Brazil,” Biden said.
He underscored the critical nature of climate action, describing it as a “fight for humanity for generations to come.” Biden added, “I will leave my successor and my country with a strong foundation to build on if they choose to do so. It’s true some may seek to deny and delay the green energy revolution that is underway in America, but nobody can reverse it.”
The announcement comes just weeks before President-elect Donald Trump takes office in January 2025, following his victory in the recent U.S. presidential election. Trump secured 295 electoral votes, defeating Democratic candidate Kamala Harris, who earned 226 votes.
During his first term as president, Trump was not known for prioritizing climate issues. Following his re-election, Trump has been swiftly finalizing his foreign policy and national security team ahead of his inauguration in January.
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